Punjab National Bank (PNB) MD Sunil Mehta said that the Rs 11,360 crore first started in 2011. He insisted that it was a “standalone incident in a single branch.” “The fraud was detected in the third week of January and a case was filed with CBI on January 30,” he said. Meanwhile, the absconding prime accused in the case, Nirav Modi, has said that he is ready to pay back the loans to the tune of Rs 5000 crore. On the other hand, the Finance Minister has sought a status report from the Enforcement Directorate, sources in the agency told News18. The jewellery designer is said to be in Switzerland but MHA is saying they cannot confirm if he has left the country. Two PNB bank officials, retired deputy manager Gokulnath Shetty and SWO Manoj Hanumant Kharat, were the first to be detected as working with Nirav Modi. The duo has been named in the FIR. About 10 more employees of the national bank have also come under the scanner of the enforcement directorate. State-run Punjab National Bank (PNB) said on Wednesday it had detected some “fraudulent and unauthorised” transactions worth about $1.77 billion (Rs 11,360 crore approx) at one of its branches in Mumbai.
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