National News
PNB fraud: CBI arrests GM-rank officer Rajesh Jindal
The CBI has arrested a general manager-rank officer of the Punjab National Bank posted at the bank’s head office in New Delhi in connection with the alleged ₹11,400-crore fraud involving billionaire jewellers Nirav Modi and his uncle Mehul Choksi, officials said.
Rajesh Jindal, who was the head of the Brady House, Mumbai, branch of the bank during 2009-11, was taken into custody on Tuesday night, they said.
It is alleged that the issuance of Letters of Undertaking (LOU) to Mr. Nirav Modi group firms without sanctioned limits started during his tenure.
Mr. Jindal is presently posted as GM, Credit, PNB Head Office, New Delhi.
