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PNB fraud started under UPA, grew during NDA: Ex Allahabad Bank official

The former top bank official said the scam that started during UPA rule increased 50 fold in the NDA rule

ANI  |  Vadodara (Gujarat) 

Allahabad Bank Director Dinesh Dubey, Dinesh Dubey, Punjab national bank, PNB, Enforcement Directorate (ED), Prevention of Money Laundering Act (PMLA), diamond merchant nirav modi, jewellery designer nirav modi, PNB 11400 crore scam,PNB scam,pnb shar
Former Allahabad bank director: Dinesh Dubey (Photo: @ANI)

A former top bank official on Friday said (PNB) fraud case started during United Progressive Alliance (UPA) government and continued in the National Democratic Alliance (NDA) government.

Talking to ANI, former said, "I had sent a dissent note against Gitanjali Gems to the government and the Reserve Bank of India (RBI) in 2013 but to no avail, I was directed that this loan has to be approved; I was being pressurized, so I resigned."

Celebrity jeweller Nirav Modi and his business associate Mehul Choksi are embroiled in the fraud case worth Rs. 114 billion. While Nirav Modi owns brand 'Nirav Modi', Choksi owns Gitanjali Gems.

The former top bank official said the scam that started during UPA rule increased 50 fold in the NDA rule.

The has lodged two financial fraud complaints of Rs. 114 billion and Rs 2.80 billion against Nirav Modi, his family members and Mehul Choksi.

The CBI filed a formal case charging four, Nirav Modi, his wife Ami, brother Nishal and Mehul Choksi on January 31 over Rs. 2.80 billion fraud.

First Published: Fri, February 16 2018. 23:18 IST
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