'We exposed the scam first and informed CBI', says PNB managing director
PNB scandal
Speaking to reporters at a press conference, Mehta said the bank detected the fraud in January.
Punjab and National Bank(PNB) managing directorSunil Mehta said Nirav Modi's 280 crorescamstarted in 2011.
"We exposed the scam first and informed the CBI this month," the managing director said, adding,"the bank will honour all bona fide commitments."
Speaking to reporters at a press conference, Mehta said the bank detected the fraud in January.
"The bank has named an ex-employee in the case," he said.
"We will find all the guilty, we believe in clean banking," the PNB MDadded.
Meanwhile, the scam took a political turn as the Congress attacked the BJP with spokesperson Randeep Surjewala declaring that it was the biggest bank loot in the last 70 years.
"Another fraudster fled the nation," Surjewala said referring to Vijay Mallya who fled the country two years ago.