New Delhi, Dec. 29 -- Punjab National Bank (PNB) share price came under pressure in Monday's opening session on December 29, falling 3% to an intraday low of Rs.116.60 after the bank reported loan fraud. However, the shares recouped early losses and were trading with a mild gain of 0.36% at Rs.120.75 apiece.

On Friday, the bank informed the Reserve Bank of India (RBI) about a borrowal fraud of around Rs.2,434 crore linked to the former promoters of SREI Equipment Finance Ltd and SREI Infrastructure Finance Ltd.

These companies were successfully resolved under the Corporate Insolvency Resolution Process (CIRP) by the National Company Law Tribunal (NCLT), PNB noted.

Out of the Rs.2,434 crore fraud amount, Rs.1,241 crore is associated wit...