The bank staff are drops to give Rs one lakh to the common man. From the very point that the given documents are given by the same thing, the little things are going to get disturbed. Banks showing the film to the side of a common man do not just break the rules of their choice for the sake of the thousands of crores of rupees.
A huge scandal has recently been released to ease the faith of the country’s banking sector. A famous jeweler designer who has been in custody with the authorities, had a huge scam due to his gang. An amount of Rs.11346 crore illegal transactions were carried out by a Branch of Punjab National Bank in Mumbai. Since 2011, the bank has come out of the country with its staff.
How was the scandal?
The Punjab Bank has suspected that their staff conspiracy through a false letter of undertaking to enable some clients to lend. It is said that these documents will be borrowed from Indian banks in foreign countries. Union Bank of India, Allahabad Bank and Axis Bank are also taking loans from these documents. However, the banks who lend Punjab Bank are not specified. At the same time, banks did not disclose the name of the company. In fact, it is not clear how the scandal happened.
The bank has slapped 10 employees including the Punjab Bank’s deputy managing director. This is the second time that these kinds of illegal transactions come out in the last ten days. The source for this scandal is identified as Neeru Modi. The case was transferred to CBI. In the wake of the latest developments, the Union Finance Ministry’s financial services department has issued new orders to the banks.All banks in the country have been asked to submit a status report this weekend.
The Punjab National Bank is entering the latest scam.Concerns about the bank’s share value will be affected due to these illegal transactions. The bank, which is already stuck with the dull debt, says that the scam is likely to go further into crisis. Bank shares collapsed as this huge scandal broke out. It lost 9.81 per cent on Wednesday.Investors invested in these bank stocks worth nearly Rs 3844 crore.
Who was Niravu Modi who was involved in the scandal of the country’s shock? What is his background? How can Annan pay thousands of crores of rupees to the banks?Nirav Modi has a good reputation for giving new designs to the gold jewelery. He created a brand in his name with the help of a grown up in Antwerp, Belgium, which calls the diamonds in the world as a karah address. At a young age he was ranked as the billionaire by the Forbes list. Nirav, born in a diamond merchandise family, founded a company named Fire Star Diamond with $ 2.3 billion. He expanded his business in three continents from China to the Hawaiian Islands in North America. In India, at a very young age, he became a billionaire.
In addition to the powerful business empire, it is said that there are also strong political connections. In 2013, Forbes, who has made his debut in the Forbes list, is ranked 1067 at the World’s 2016 Forbes list. Indian billionaires have been ranked 46th. Nirudu is ranked 82th in India. He reached number 57 in 2017. Niravu, who opened a store in New York in 2016, is trying to make his businesses universal. Priyanka Chopra was brand ambassador for her designs. He is credited as a brand name for luxury diamonds. Niravu is said to have special skills in promoting diamonds as investments rather than jewelry. Neeru habitually participated in the auction of famous companies such as Christie and Sotheby’s. However, it is said that his financial sources dumped the bank.
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