Thursday 9 December 2021
- Advertisement -
HomeEconomyIndian Banks Association discusses Niravgate

Indian Banks Association discusses Niravgate

Mumbai: The apex body of bankers on Saturday here to discuss the Rs 11,400-crore scam at Punjab National Bank allegedly caused by the absconding diamond trader and a clutch of his family-run companies.

The meeting of the Indian Banks Association (IBA) was attended by senior officials of public and private sector lenders, sources said this evening.

Interestingly, the meeting, earlier scheduled to be held at the IBA headquarters in Cuffe Parade, south Mumbai, was changed at the last moment to the SBI headquarters at Nariman Point, apparently to avoid the media.

Among those present were Allahabad Bank and chief executive and also IBA chairperson Usha Ananthasubramanian, Bank of India managing director and chief executive Dinabandhu Mohapatra, ICICI Bank chief financial officer N S Kannan and IBA deputy chief executive B Rajkumar.

“The discussion centred around how to recover the money (from those involved in the fraud),” said a banker without disclosing the details.

State-owned PNB has been rocked by a $1.77 billion scam where billionaire jeweller allegedly acquired fraudulent letters of undertakings (LoUs) from the Brady House branch in south Mumbai to secure overseas credit from other lenders.

The other banks which have or have had exposure to the fraud include State Bank of India (over $221 million), Allahabad Bank and among others. Some overseas lenders are also believed to have had exposure to the fraud.

Law enforcement agencies are on the lookout for and his family and also his uncle Mehul Choksi who heads the Group.

The ED claims to have recovered over Rs 5,400 crore worth of diamonds and bullion from the raids on Modi’s enterprises since the scam came to light earlier this week.

Modi and his family members the country in early January and are believed to be in New York.

The enforcement agencies have sought the Interpol help to trace the billionaire jewellery designer and bring him back to the country.

The external affairs ministry Friday suspended with immediate effect the passports of the diamantaire and his business partner Choksi, both prime accused in the scam, for a month.

PTI

0 views

Sirf News needs to recruit journalists in large numbers to increase the volume of its reports and articles to at least 100 a day, which will make us mainstream, which is necessary to challenge the anti-India discourse by established media houses. Besides there are monthly liabilities like the subscription fees of news agencies, the cost of a dedicated server, office maintenance, marketing expenses, etc. Donation is our only source of income. Please serve the cause of the nation by donating generously.

Support pro-India journalism by donating

via UPI to surajit.dasgupta@icici or

via PayTM to 9650444033@paytm

via Phone Pe to 9650444033@ibl

via Google Pay to dasgupta.surajit@okicici

Moreover, since morning in #Kashmir people assembled to pay homage to the departed CDS #Bipin_Rawat Sir at various locations. In evening, there ll be candle marches to express honor, and brief interactions to highlight his feats. 2/n

#1stCDS #JaiHind

Wikipedia Editors Mad About Jimmy Wales’ NFT of a Wikipedia Edit https://www.vice.com/en/article/qjbkvm/wikipedia-editors-very-mad-about-jimmy-waless-nft-of-a-wikipedia-edit

Read further:

This site uses Akismet to reduce spam. Learn how your comment data is processed.

- Advertisment -

Now

Columns

[prisna-google-website-translator]
%d bloggers like this: