February 14 2018
State-run Punjab National Bank today said it had detected “some fraudulent and unauthorised” transactions amounting to around Rs 11,360 crore at a branch in Mumbai.
The bank said the fraudulent transactions were for the “benefit of [a] few select account holders with their apparent connivance”. Based on the fraudulent transactions, “other banks appear to have advanced money to these customers abroad”, Punjab National Bank added.
