PNB officials may have made over â¹800cr in PNB scam: Reports
PNB officials at Mumbai's Brady House branch may have reportedly made over â¹800 crore as kickbacks for issuing fraudulent Letters of Undertaking (LoUs) to jeweller Nirav Modi's firms. They were allegedly given 2% commission on each LoU per year for several years. Companies linked to Nirav and Mehul Choksi used these fraudulent LoUs to get overseas credit worth $1.77 billion.