MUMBAI: A Maha Ghotal has surfaced in Punjab National Bank when fraudulent and unauthorized transactions of more thanRs.11500 Crpres were detected in one branch in Mumbai. The matter has been reported to the police for investigation.
The Bank has not revealed the names of those involved in huge Ghotala .But it was indicated that few account holders connived with their associates are involved in this scam .
The crook account holders ar said to have received huge loans and advances in foreign countries based on the fraudulent transactions in Mumbai Bank .
Punjab National Bank is the grip of scams .Just a few weeks ago , it was reported that a rich billionaire jeweler Nirav Modi defrauded PNB of Rs. 282 Crores .
The frauds and scams in PNB have shocked finance markets as many public sector banks are reportedly been hurt by bad loans and NPAs worth lakhs of Crores of rupees .