PNB suspends 10 officials in $1.77 bn Nirav Modi fraud case
Punjab National Bank (PNB) has suspended 10 officials in connection with the $1.77 billion fraud linked to jeweller Nirav Modi's firms. The bank's CEO Sunil Mehta said that criminal action has been taken against staff members involved in the fraud. He also revealed that the bank received a "vague" offer from Nirav Modi regarding repayment of the loan.