PNB Scam: Fraud came to light due to alertness of NDA govt says Union Minister Prakash Javadekar
Union Minister Prakash Javadekar
He said 'the scam which has come into the light is a scam of the UPA Government. This started during the UPA's reign in 2011. It is the alertness of the NDA government which has brought this scam into the light'
Union Minister Prakash Javadekar has issued clarification over the PNB Fraud Casewhich involvesfraudulent transactions worth Rs 11,400 crore.
While addressing the media, Javadekarsaid that Nirav Modiscam started during the UPA's regime and it was because of the alertness of the NDA government that the fraud was brought into the light.
He said "The scam which has come into the light is a scam of the UPA Government. This startedduring the UPA's reign in 2011. It is the alertness of the NDA government which has brought this scam into the light. All the NPAs, the wrongful distribution of loans, amongstothers were all passed down to us by the UPA Government".
Referring to Dinesh Dubey's resignation, he asked who forced theFinanceSecretary toput pressure onDinesh Dubey.
Dinesh Dubey is the former Bank Director of the Allahabad Bank. He resigned from office in 2013 citing his dissatisfaction over something.
Javdekar also assured of recovering the money and said an investigation was being conducted into the "banking fraud".
The Punjab National Bankannounced this week that it had discovered fraudulent transactions worth Rs 11,400 crore at a single branch in Mumbai.
It stated that Nirav Modi had carried out “fraudulent transactions” worth over Rs 11,400 crore by acquiring fake bank guarantees and showing it to other banks in order to extract more money.