Bank of Baroda loses ground on money laundering reports

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Shares in India's top public sector bank, Bank of Baroda was trading down by more then a per cent at Rs 647 following a report by over the bank's Nassau branch saw successive wire transfers of several hundred thousand dollars from from Dubai-based currency exchanges suspected of laundering organised crime proceeds.

Other PSU banking stocks also dropped on weakening market sentiments. Stocks that lost ground in trade were Canara Bank, Punjab National Bank and IDBI Bank.

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