Moody's and Fitch, two renowned global rating agencies, have highlighted concerns about Punjab National Bank's (PNB) creditworthiness. They have begun a rating watch on the bank, signifying a thorough examination prior to a possible downgrade or modification in outlook. Moody's Investors Service has placed PNB's local and foreign currency deposit ratings of Baa3/P-3, as well as its foreign currency issuer rating of Baa3, under scrutiny for possible downgrading. The primary reason for this examination is the anticipated financial consequences of the fraudulent acts. The key issue driving the rating action is the perceived possibility of a decline in the bank's independent credit profile as a result of the identification of several fraudulent transactions.