Punjab National Bank (PNB) chairman Sunil Mehta is said to have set a six-month timeline to overcome the Nirav Modi mess. He also wants the bank to be on track with no shade of the scam on its performance and businesses within this timeframe. PNB had reported a whopping Rs 13,000 crore fraud and later had to honour the commitment of Letters of Undertaking (LoUs) which were issued to foreign branches of Indian banks that extended loans to alleged fraudsters Nirav Modi's and his uncle Mehul Choksi's firms. Official sources said the impact of the fraud is not yet visible on the PNB balance sheet. Honouring of the liabilities (LoUs) is likely to dent the PNB's Q4 profitability which could also be hit by NPAs and rising yields. But there would be a strong comeback in the first quarter onwards the as the bank will look to raise more money from sale of non-core assets including stake sale in subsidiaries and monetisation of the large real estate holdings.