Wednesday, 14 March 2018

Punjab National Bank Has Told The Police That It Has Uncovered Additional

Punjab National Bank has told the police that it has uncovered additional exposure of about Rs 942.18 crore to Asmi Jewellery of Gitanjali Group in connection with a massive alleged fraud, according to a court filing by the Central Bureau of Investigation.

This takes the Delhi-based lender’s total exposure to one of country’s biggest banking frauds up to Rs 13,640 crore from the earlier estimate of Rs 12,700 crore.

As investigations widen and unauthorized loans are uncovered, the bank has said that the total amount allegedly defrauded by the accused till date is about Rs 7,080.86 crore during the period 2013-17, according to the CBI filing.
  
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