{"id":22210,"date":"2018-02-17T11:42:54","date_gmt":"2018-02-17T11:42:54","guid":{"rendered":"http:\/\/punjabnews24.com\/?p=22210"},"modified":"2018-02-17T11:42:54","modified_gmt":"2018-02-17T11:42:54","slug":"pnb-fraud-indian-banks-association-to-meet-on-saturday","status":"publish","type":"post","link":"https:\/\/blastingskyhawk.com\/english\/pnb-fraud-indian-banks-association-to-meet-on-saturday\/","title":{"rendered":"PNB fraud: Indian Banks\u2019 Association to meet on Saturday"},"content":{"rendered":"<p>Bankers\u2019 body Indian Banks\u2019 Association (IBA) will meet on Saturday to deliberate on the Rs 11,400 crore fraud involving billionaire diamond jeweller Nirav Modi and Punjab National Bank (PNB), sources said.<\/p>\n<p>IBA chairperson Usha Ananthasubramanian was earlier the managing director of PNB.<\/p>\n<p>She is currently heading Allahabad Bank, which is believed to have encashed some of the letters of undertaking (LoUs) issued by PNB.<\/p>\n<p>Meanwhile, the finance ministry has asked all banks review their systems and processes and ensure that potential frauds are identified and corrective action taken if required.<\/p>\n<p>State-owned PNB has been rocked by a $1.77 billion scam where billionaire jeweller Nirav Modi allegedly acquired fraudulent letters of undertaking (LoUs) from a branch in Mumbai to secure overseas credit from other Indian lenders.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Bankers\u2019 body Indian Banks\u2019 Association (IBA) will meet on Saturday to deliberate on the Rs 11,400 crore fraud involving billionaire diamond jeweller Nirav Modi and Punjab National Bank (PNB), sources said. IBA chairperson Usha Ananthasubramanian was earlier the managing director of PNB. She is currently heading Allahabad Bank, which is believed to have encashed some [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":22211,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[410],"tags":[],"class_list":["post-22210","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/22210","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/comments?post=22210"}],"version-history":[{"count":1,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/22210\/revisions"}],"predecessor-version":[{"id":22212,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/22210\/revisions\/22212"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media\/22211"}],"wp:attachment":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media?parent=22210"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/categories?post=22210"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/tags?post=22210"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}