Vinod Kumar Menon, Mid-Day
| Monday February 19, 2018
There's no end to Punjab National Bank's (PNB) deception. Even as probes by the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) into the Rs 11,400-crore Nirav Modi scam are underway, Mumbai Police has initiated an inquiry against the bank's Santacruz branch, which allegedly sanctioned a housing loan of Rs 3 crore on the same day it received the application, within two hours! It allegedly gave an overdraft of Rs 1 crore to the same individual without verifying documents or conducting any background checks.