: The National Bank of Punjab , the second largest public sector bank in the country, has caught fake forgery of $ 1.77 billion. Punjab National Bank has seized unauthorized transactions through a broker from Mumbai, which was benefiting some selected account holder. The bank has informed the Bombay Stock Exchange about this. The effect of this fraud can be seen on some other banks.
PNB , however, has not named any person involved in the fraud, but has said that he has given information to investigating agencies about it. The bank said that he would later assess whether any of these transactions would have no liability for him. After this information, the share of PNB broke more than 4 per cent. However, on Wednesday, PNB’s share in the initial trading fell to 5.7%.
Significantly, PNB is already investigating such frauds. Last week, the CBI had said that he had started investigations against billionaire Julian Nirav Modi on PNB’s complaint. In fact, PNB filed a report of $ 4.4 million fraud on Julur and some others. It is not known whether the current disclosure is related to this matter or is different from it.