mobanmarketThe Punjab National Bank loan fraud saga continues to unfold every day. The bank has now revealed that the quantum of the fraud, it reported a couple of weeks ago, could increase up to Rs 12,700 crore, from Rs 11,300 crore.
Nirav Modi and his uncle and business partner, Mehul Choksi were involved in an additional unauthorised transaction related to the scam. This increase means that the total fraud now amounts to nearly $2 billion (Rs 12,622 crore) as against the original estimated $1,772 million (over Rs 11,300 crore).
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