and not on the client. The exposure is roughly in the range of Rs 20-22 billion,� Ananthasubramanian said. However, PNB in a letter to banks, indicated clearly that it was in no mood to pay back and alleged connivance of employees at the foreign branches of other Indian banks. In a letter to the chiefs of several banks, a general manager of PNB share price said the letters of undertakings (LoUs) are were opened in favour of branches of Indian banks for import of pearls for a period of one year, for which the Reserve Bank of India (RBI) guidelines stipulate a total time period of 90 days from the date of shipment.
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