Recently exposed Rs 11346 crore fraud by renowned jewellers Nirav Modi and three other jewellers to country’s second-largest public sector bank PNB has caused a stir in banking industry. It may be the biggest banking scam till date. RBI has directed PNB to pay entire Rs 11346 crore to the lenders or it may lead to turmoil in financials of the banks. Following are some other scams which hit the news earlier:
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