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PNB officials may have made over ₹800cr in PNB scam: Reports
short by Krishna Veera Vanamali / on Monday, 19 February, 2018
PNB officials at Mumbai's Brady House branch may have reportedly made over ₹800 crore as kickbacks for issuing fraudulent Letters of Undertaking (LoUs) to jeweller Nirav Modi's firms. They were allegedly given 2% commission on each LoU per year for several years. Companies linked to Nirav and Mehul Choksi used these fraudulent LoUs to get overseas credit worth $1.77 billion.
read more at Business Today