Diamantaire Nirav Modi and his uncle Mehul Choksi are alleged to have colluded with officers of the branch to fraudulently obtain guarantees for availing loans from overseas branches of Indian banks.
"It may be clarified that RBI does risk-based supervision of the bank on an annual basis," PNB said in a statement.
The bank has been scammed to the tune of Rs 12,700 crore by Modi and associates.
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