PNB fraud: Assocham calls for privatising Public Sector Banks
New Delhi: The TV advertisement of Punjab National Bank has become a butt of a joke after alleged Rs 11,500 crore banking fraud by jeweller Nirav Modi and his partner Mehul Choksi.
The advertisement presents PNB and Nirav Modi as frauds in a funniest way. Both are being extensively trolled on social media.
The video below may leave you rolling out with laughter:
Neerav had carried out fraudulent transactions worth over Rs 11,500 crore by taking out fake bank guarantees from the bank and showing it to other banks in order to extract more money.
The Punjab National Bank disclosed the massive fraud on Wednesday detailing that the luxurious diamond merchants leveraged the loopholes in the banking system and sought letters of undertaking (LoU) and raised credit from foreign banks to pay its merchants.
It is worth mentioning here that the ruling Bharatiya Janata Party and Congress are trading blame over multi-crore Nirav banking fraud.
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