PNB Scam: After 11,500 cr fraud PNB, Geetanjali shares fall by 7% & 15%

A sharp fall of 7% was seen in the share market rate of Punjab National Bank on Thursday, after a scam of Rs 11,500 crore done against the country’s largest government bank came to light.

This come after CBI booked diamond merchant Nirav Modi, his brother, wife and a business partner for allegedly cheating PNB of over Rs 280.70 crore in 2017.

The Enforcement Directorate (ED) has registered a money laundering case in connection with the Rs 280-crore cheating of Punjab National Bank (PNB) allegedly by diamantaire Nirav Modi and others, on the basis of a CBI FIR.
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