Punjab National Bank discovers $1.8bn fraud in Mumbai branch

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  1. Punjab National Bank discovers $1.8bn fraud in Mumbai branch  Financial Times
  2. Sensex, Nifty End Modestly Lower; PNB Shares Slump Over 10%  Nasdaq
  3. PNB files complaint with CBI against Nirav Modi alleging Rs11,400 crore fraud  Livemint
  4. Full coverage

One of India s largest banks has uncovered a scam involving payments worth $.bn to a handful of customers triggered by actions taken at a single branch, sending shockwaves through the country s financial sector. In a notification to stock exchanges, Punjab National Bank the country s second largest .Offices and Mumbai home of billionaire jeweller Nirav Modi raided after PNB hit by $.bn fraudulent transaction.. about PNB s $. bn fraud at its Mumbai branch can spread to other banks too on Business Standard. India s second largest state run bank Punjab National Bank PNB detected $. billion fraud at single branch in nations financial hub. Know more on PNB fraud transactions.. about Punjab National Bank detects $. bn fraud at a Mumbai branch on Business Standard. Punjab National Bank, the second largest public sector bank in India, has detected a $. billion fraud in one of its branches here, the bank said in a regulatory filing to the stock exchanges on .

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