Punjab National Bank (PNB) has informed the stock exchanges late evening on Monday that the amount of fraudulent transactions in the Nirav Modi case could rise by another ₹ 1330 crore.

“In continuation to our filing with Stock Exchanges on 14.02.2018, we have to inform that quantum of reported unauthorized transactions can increase by USD 204.25 Mio(approx),” PNB said.

On February 14, 2018, PNB had informed the exchanges about unauthorised transactions worth about ₹ 11,500 crore where fraudulent letters of undertaking (LoUs) were issued from a branch in Mumbai to secure overseas credit.

“The quantum of such transactions is $ 1771.69 million. The matter is already referred to law enforcement agencies to examine and book the culprits as per law of the land,” the communication had said.