A pigeon flies past the logo of Punjab National Bank outside a branch of the bank in New Delhi, India February 15, 2018. REUTERS/Adnan Abidi
NEW DELHI (Reuters) – India’s federal police has sealed the Mumbai branch of Punjab National Bank (PNBK.NS) at the center of a $1.77 billion loan fraud involving billionaire jeweler Nirav Modi, state television said on Monday.
Three people including two employees of Punjab National Bank, India’s second largest state lender, have been arrested in the biggest fraud case in the country’s banking history.
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