PNB suffered â¹14,506 crore loss due to frauds in FY18 so far
Fraud-hit PNB witnessed losses amounting to about â¹14,500 crore due to frauds so far in FY18. The bank reported a loss of â¹341.03 crore in 2015-16 and â¹2,633.82 crore in 2016-17. The government has said that PNB has submitted reports on fraud related to jewellers Nirav Modi and Mehul Choksi to the RBI through its 'Fraud Reporting and Monitoring System'.