10 Punjab National Bank officials suspended in Nirav Modi fraud case

CBI had on Monday booked Nirav Modi, his brother Nishal Modi and the officials of PNB in this regard.

Published: 14th February 2018 07:52 PM  |   Last Updated: 14th February 2018 07:52 PM   |  A+A-

The logo of Punjab National Bank is seen outside of a branch of the bank. | REUTERS

By ANI

NEW DELHI:The Punjab National Bank (PNB) on Wednesday suspended 10 of its officials in connection with jewellery designer Nirav Modi fraud case.

Modi had allegedly cheated the bank to the tune of Rs 280.7 crore.

The Central Bureau of Investigation (CBI) had on Monday booked Nirav Modi, his brother Nishal Modi and the officials of PNB in this regard.

Joint Secretary of Department of Financial Services Lok Ranjan told ANI that the government had taken note of it and certain steps were being taken.

“It is not in my domain and it is not right for me to comment on it further,” he said.

The case against the famous jewellery designer comes after the Income Tax department raided Modi's offices in Delhi, Surat and Jaipur.

“All the officials are of the same branch. This is the part of non-performing asset reforms agenda. Cleaning of banks is the top priority of the government. The government had directed all the banks that the NPA clean-up would help honest borrowers get loans. After having capitalised, we will ensure that all banks are cleaned up,” Department of Financial Services Secretary Rajiv Kumar told ANI.

Kumar also said this was a one-time cleaning exercise. “Whatever it takes, whatever is required, we will do that.”

Stay up to date on all the latest Nation news with The New Indian Express App. Download now

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

IPL2018