NEW DELHI: Punjab National Bank (PNB) has transferred 1,415 workers after the rip-off involving Rs 11,400 crore, using pretend letters of undertakings (LoUs) to diamond jeweller Nirav Modi and co-workers, surfaced earlier this month.
Nirav Modi has allegedly cheated the country's 2nd biggest bank through issuance of LoUs in connivance with a couple of officers of the bank from one among its Mumbai branch. The bank filed a FIR in this regard on February 13.
Read Also | Come up with a concrete plan to pay dues: PNB to Nirav Modi
"...the Bank has transferred 257 sub staff, 437 clerks and 721 officers (total 1,415 employees) since February 19, 2018, as per prevailing Rotational Transfer Policy of the Bank," PNB mentioned in a commentary.
It however denied stories that the bank has transferred with regards to 18,000 workers saying it's "factually incorrect".
It has been alleged that positive workers involved in the rip-off remained posted in the same place and the same branch for a long time in violation of the HR coverage.
On February 19, the Central Vigilance Commission (CVC) had held a meeting with senior officers of PNB to investigate in regards to the rip-off involving Nirav Modi and his uncle Mehul Choksi of Gitanjali staff.
Read Also | PNB adopts strict SWIFT controls after mega fraud case
The lender further mentioned that its branches are functioning easily and the "transfers are in no way affecting the customer service in the bank".
Nirav Modi has allegedly cheated the country's 2nd biggest bank through issuance of LoUs in connivance with a couple of officers of the bank from one among its Mumbai branch. The bank filed a FIR in this regard on February 13.
Read Also | Come up with a concrete plan to pay dues: PNB to Nirav Modi
"...the Bank has transferred 257 sub staff, 437 clerks and 721 officers (total 1,415 employees) since February 19, 2018, as per prevailing Rotational Transfer Policy of the Bank," PNB mentioned in a commentary.
It however denied stories that the bank has transferred with regards to 18,000 workers saying it's "factually incorrect".
PNB fraud: How Nirav Modi's corporations embezzled crores
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It has been alleged that positive workers involved in the rip-off remained posted in the same place and the same branch for a long time in violation of the HR coverage.
On February 19, the Central Vigilance Commission (CVC) had held a meeting with senior officers of PNB to investigate in regards to the rip-off involving Nirav Modi and his uncle Mehul Choksi of Gitanjali staff.
Read Also | PNB adopts strict SWIFT controls after mega fraud case
The lender further mentioned that its branches are functioning easily and the "transfers are in no way affecting the customer service in the bank".
PNB transfers 1,415 employees post scam
![PNB transfers 1,415 employees post scam]()
Reviewed by Kailash
on
February 23, 2018
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