{"id":31281,"date":"2018-10-27T12:58:17","date_gmt":"2018-10-27T07:28:17","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=31281"},"modified":"2018-10-27T12:58:17","modified_gmt":"2018-10-27T07:28:17","slug":"%e2%82%b911500-crore-fraud-rocks-state-run-pnb","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/%e2%82%b911500-crore-fraud-rocks-state-run-pnb\/","title":{"rendered":"\u20b911,500 crore fraud rocks state-run PNB"},"content":{"rendered":"<p><a href=\"http:\/\/www.thehindu.com\/business\/markets\/pnb-shares-fall-after-bank-finds-fraudulent-transactions-worth-177-billion\/article22749241.ece\"><b>\u20b911,500 crore fraud rocks state-run PNB<\/b><\/a><\/p>\n<p><b>Context:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">State-run lender Punjab National Bank (PNB) reported unauthorised transactions worth <\/span><span style=\"font-weight: 400;\">\u20b9<\/span><span style=\"font-weight: 400;\">11,500 crore in one of its branches in south Mumbai.<\/span><\/li>\n<\/ul>\n<p><b>Banking fraud:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The Enforcement Directorate has registered a money laundering case in the matter.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">It involves Mumbai-based billionaire diamond merchant Nirav Modi.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">A case has been registered by the Central Bureau of Investigation against him and his business associates as well as a serving PNB official and a retired deputy manager of the bank.<\/span><\/li>\n<\/ul>\n<p><b>Stock plunges<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The bank\u2019s stock plunged almost 10% through the day and its market capitalisation eroded by nearly <\/span><span style=\"font-weight: 400;\">\u20b9<\/span><span style=\"font-weight: 400;\">3,900 crore by the end of trading on the Bombay Stock Exchange.<\/span><\/li>\n<\/ul>\n<p><b>Booked under Prevention of Corruption Act:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">All the accused have been booked for cheating and criminal conspiracy under the Indian Penal Code along with criminal misconduct by a public servant under the Prevention of Corruption Act.<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>\u20b911,500 crore fraud rocks state-run PNB Context: State-run lender Punjab National Bank (PNB) reported unauthorised transactions worth \u20b911,500 crore in one of its branches in south Mumbai. Banking fraud: The Enforcement Directorate has registered a money laundering case in the matter. It involves Mumbai-based billionaire diamond merchant Nirav Modi. A case has been registered by&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/%e2%82%b911500-crore-fraud-rocks-state-run-pnb\/\">Continue reading <span class=\"screen-reader-text\">\u20b911,500 crore fraud rocks state-run PNB<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[555],"tags":[],"class_list":["post-31281","post","type-post","status-publish","format-standard","hentry","category-test-1","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704797047},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/31281","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=31281"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/31281\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=31281"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=31281"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=31281"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}