Fraud-hit PNB issued over 41,000 LoUs since 2011: Govt
The government has informed that fraud-hit PNB issued as many as 41,178 Letters of Undertaking (LoUs) since 2011. Over 1,500 LoUs were issued to the $2.1-billion PNB fraud accused jewellers Nirav Modi, Mehul Choksi and their associates. The government also said that the RBI informed that it doesn't have "complete/granular" details of LoUs issued by PNB since 2011.