The banking stocks reacted negatively on Wednesday after a fraud worth Rs 11,335 crore was discovered at a PNB branch in Mumbai, and the RBI announced new NPA norms, which bent the sentiments towards the banking stocks. Benchmark Sensex succumbed to fag-end profit-booking to end 144 points lower. PNB plunged 9.81% after the lender said it detected fraudulent transactions worth .77 billion. Watch a BusinessToday.in report.
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Stock market wrap: Banking stocks plunge