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Nirav Modi case: PNB fraud rises to Rs 12,700 crore, more unauthorised transactions detected

YB WEB DESK. Dated: 2/27/2018 2:13:35 PM

The financial fraud, one of the biggest in the banking sector, was unearthed after an internal inquiry by the PNB. It was found was the two Mumbai-based diamond jewellers had been allegedly duping foreign banks with fake Letters of Undertakings from PNB for several years.