Will take full capacity action against guilty: PNB
New Delhi, Feb 15 (DIN NEWS) The Punjab National Bank (PNB) today said it will take “full-capacity” action against the wrong doers in the Rs 11,400-crore Nirav Modi fraud case, which started in 2011. The state-owned bank said it had detected USD 1.77 billion fraud in which billionaire jeweller Nirav Modi allegedly acquired fraudulent letters of undertaking (LoUs) from one its branches for overseas credit from other Indian lenders. PNB has suspended 10 officers over the scam and referred the matter to the CBI for investigations. The Enforcement Directorate is continuing…
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