Indian banks' forex branch officials questioned in PNB fraud
The CBI has questioned officials from foreign branches of Indian banks over the $2.1-billion PNB fraud. Two officials of Canara Bank's branch in Bahrain and one from Bank of India's Belgium branch were questioned. The branches extended credit facilities to Nirav Modi and Mehul Choksi's firms on basis of Letters of Undertaking from PNB's Brady House branch in Mumbai.