PNB expects 14 billion rupees from the sale of its headquarters in New Delhi and may also pare its stakes in brokerage PNB Gilts Ltd. and PNB Housing Finance Ltd., the people said. PNB didn't immediately reply to an email seeking comment and Finance Ministry spokesman DS Malik didn't answer a phone call. Earlier this week, Moody's Investors Service placed under review for downgrade PNB's local and foreign currency deposit rating of Baa3/P-3 and Baa3 foreign currency issuer rating, citing the risk of a weakening of the bank's standalone credit profile due to fraudulent transactions. The transactions represent about 230 basis points of the bank's risk-weighted assets as of 31 December 2017, the rating firm said. PNB's capital position would deteriorate markedly, and fall below minimum regulatory requirements, if the bank is required to provide for the entire exposure of the fraud. according to Moody's.