Sunday 21 Oct, 2018








Punjab National Bank fraudulent Rs 11,360 crore, CBI Probe Ordered


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Mumbai: Central Bureau of Investigation launched a probe after a fraudulent is detected in Punjab National Bank's Mumbai branch.

Punjab National Bank's Mumbai branch detected fraud worth Rs 11,360 crore. Reports said that the money transferred to various accounts was withdrawn from abroad. It also reported that some foreign banks have been given loans for withdrawals.

The CBI and the Enforcement Directorate have also started investigation on the bank's complaint. Money transfers have not yet been disclosed.

With the help of bank employees, accounts of Mumbai branch are withdrawn from abroad. There is no clarity on whether bank will have to bear the fraud money.

Punjab National Bank is the country's second largest public sector bank. There are four banks in the bank.

The share price of the bank has declined by 5.7 per cent since the fraud surge.

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