NDTV Profit Team
| Sunday February 18, 2018
When the banking sector is busy counting its losses in one of the most gigantic banking frauds, the law enforcement agencies, CBI and ED, have raided properties linked to diamantaire Nirav Modi and Mehul Choksi's Gitanjali Jewels. The CBI has already arrested three persons, including the 2 PNB staffers, who have been sent to the judicial custody till March 3. The ED raided dozens of Nirav Modi's premises and seized diamonds, gold and jewellery worth Rs 5,670 crore. The banks that are likely to be affected include UCO Bank and State Bank of India (SBI), while Axis Bank says that it has already sold its exposure to Nirav Modi and his firms.