Punjab National Bank
SBI, UBI share $500 mn of the $1.77 bn Nirav Modi-fraud on PNB
17 Feb 2018
The Punjab National Bank scam involving a Rs11,300 crore fraud by global jeweller Nirav Modi could balloon into a much larger banking industry scam after investigating agencies extended probe to other major jewellers and banks
PNB fraud: net widened; Modi, Choksi passports suspended
17 Feb 2018
By Friday, the ED and CBI had searched 35 locations in 11 states and seized jewellery worth Rs5,100 crore in connection with the Rs11,400 crore ‘fraud’ pulled by jewellers Nirav Modi and Mehul Choksi on Punjab National Bank
PNB reports Rs10,000-cr fraudulent transactions in its Mumbai branch
14 Feb 2018
PNB said the unauthorised transactions (messages) involved a few select account holders in a Mumbai branch, based on which other banks appear to have advanced money to these customers abroad
