PNB

against him and Mehul Choski, who runs a jewellery and gem store chain with the brand name Gitanjali, for alleged cheating and forgery worth ₹280 crore on a complaint from the public sector bank, PNB.

‘SUBMIT STATUS REPORT SOON’

Concerned over fraud of over ₹ 11,300 crore at PNB, the finance ministry has asked all banks to send reports involving this case or other such incidents latest by the end of this week. Earlier in the day, PNB disclosed some fraudulent transactions with financial implication of $1.77 billion (about ₹11,334.4 crore). The bank has detected some fraudulent transactions in one of its branches in Mumbai for the benefit of a few select account holders with their apparent connivance, PNB said in a statement. Based on these transactions, other banks appear to have advanced money to these customers abroad, it said. Since more than one lender is involved, all banks have been asked by the Department of Financial Services to submit a status report soon on the fraud, official sources said.