Nirav Modi effect! Moody's downgrades PNB over Rs 14,000 crore fraud

With this move, Moody's has become the second rating agency to downgrade the PNB. Last month, Fitch Ratings on Wednesday downgraded the viability rating of scam-hit Punjab National Bank from BB to BB-. The move was based on similar concerns - negative impact on bank's financials. Read The Rest at :