₹11.4Kcr fraud hits PNB amid Nirav Modi probe
PNB has already suspended 10 employees. The fraud dates back to 2011, although it isn’t clear how long it lasted or how many guarantees were given.
Any delay in addressing the issue could result in a full-blown war between banks.
A person familiar with the development at PNB said the bank did not see itself responsible for making good with other banks affected because the guar-