SBI has $212 million outstanding exposure to PNB fraud case
SBI has said that it has an exposure of $212 million (over â¹1,364 crore) with respect to the Letter of Undertaking (LoU) issued by PNB to Nirav Modi. However, the bank added that it does not have any direct exposure to Modi. Hong Kong branches of several Indian banks allegedly gave $1.77 billion to Modi-linked firms based on the LoUs.