Have â¹295 cr exposure to Nirav, Choksi's firms: Union Bank
Union Bank of India CEO Rajkiran Rai said the bank has a direct credit exposure of about â¹120 crore to companies controlled by jeweller Nirav Modi and another â¹175 crore to Mehul Choksi-owned Gitanjali Group. This amount is separate from the â¹1,955-crore exposure the bank had previously reported on account of the fraudulent PNB guarantees.