Congress gives adjournment motion in Rajya Sabha over PNB fraud case

The Congress party has given an adjournment notice in the Rajya Sabha in the Punjab National Bank fraud case, ANI reported.

Congress leader Mallikarjun Kharge was quoted as saying his party would discuss what essential issues needed to be raised in Parliament on Monday.

There are several cases. There is not only one bank, people are fleeing after looting multiple banks. We will discuss what other essential issues are to be raised in the Parliament tomorrow: Mallikarjun Kharge, Congress pic.twitter.com/I0R03NuMIX

ANI (@ANI) March 4, 2018

In January, PNB uncovered the alleged fraud in which several bank officials were suspected of colluding with jeweller Nirav Modi and his uncle Mehul Choksi to issue fraudulent letters of undertakings (LoUs), for their companies to raise loans from overseas branches of mostly Indian banks.

The Central Bureau of Investigation (CBI), which has arrested 14 people in the case, on Saturday for the first time said bribes were paid to at least one Punjab National Bank (PNB) official by Nirav Modi.

The agency told the court that Yashwant Joshi, who worked as a manager in the forex department of the Mumbai branch that is at the centre of the fraud, admitted to having received two gold coins weighing 60 grams and a pair of gold and diamond earrings from Modi.

(Inputs from Reuters)

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