Shares of state-run Canara Bank declined sharply this morning as the Central Bureau of Investigation filed charges against a former chairman of the bank and a few others over allegations in a case pertaining to a company which had taken loans worth about Rs 65 crore.

Ever since Punjab National Bank came out with a revealation that it unearthed a fraud that could result in a mammoth $2 billion loss to the banking industry, reports about more and more bank loan scams have flooding the market.

According to the case, filed by Canara Bank in late January this year, the company, dealing in wholesale and retail trading of silver jewellery, gift items, crockery items etc., cheated the bank to the tune of about Rs 68 crore, through its accounts with the bank’s Kamla Nagar branch in New Delhi.

Canara Bank declined to Rs 250 on the National Stock Exchange and is currently traded at Rs 253, down more than 4% from its previous closing price. The Canara Bank counter on NSE has clocked a volume of about 10.34 million shares so far in the session.

On BSE, about 5.63 lakh shares have changed hands so far at the Canara Bank counter so far in today’s session.

In the last thirty sessions, the Canara Bank stock has lost nearly 17%, more than two times the loss of 8.2% recorded by the Nifty PSU Bank index. In the year to March 2018, Canara Bank is down 14.1% now.

Only Bank of India (down 21%) and Punjab National Bank (down 17.4%) have lost more than Bank of India.

Canara Bank hit a high of Rs 463.70 on 26 October 2017 and a low of Rs 225.20 on 12 March 2018.