PNB agrees to repay â¹6,500 cr scam-linked loans by March 31
PNB has said it'll honour 352 Letters of Undertaking and foreign Letters of Credit and repay â¹6,500 crore to seven banks by March 31. PNB will settle all subsequent maturing LoUs linked to Nirav Modi fraud when are due. About 30 banks had provided Buyers' Credit in favour of overseas suppliers to Nirav Modi firms based on allegedly unauthorised LoUs. 