PNB denies transferring 18,000 emloyees following Nirav Modi scam, calls it rotational policy

Defrauded Rs 11,300 crore ($1.8 billion) allegedly by diamantaire Nirav Modi, state-run Punjab National Bank (PNB) on Thursday denied media reports that it has transferred close to 18,000 employees on account of the ongoing probe into the scam.

IANS February 22, 2018 21:53:38 IST
PNB denies transferring 18,000 emloyees following Nirav Modi scam, calls it rotational policy

New Delhi: Defrauded Rs 11,300 crore ($1.8 billion) allegedly by diamantaire Nirav Modi, state-run Punjab National Bank (PNB) on Thursday denied media reports that it has transferred close to 18,000 employees on account of the ongoing probe into the scam.

PNB denies transferring 18000 emloyees following Nirav Modi scam calls it rotational policy

Representational image. AP

In a message on its Twitter handle, PNB clarified that it had transferred a total of 1,415 employees since 19 February.

"There have been reports appearing in the media that the bank has transferred close to 18,000 employees, the same is factually incorrect," the bank tweeted.

"The bank has transferred 257 sub-staff, 437 clerks and 721 officers (total 1,415 employees) since 19th February, 2018, as per prevailing Rotational Transfer Policy of the bank."

"The working in the branches is going on smoothly and the above transfers are in no way affecting the customer service in the bank," it added.

The bank has earlier clarified with reference to other media reports in this regard that it has enough assets and capital to handle the situation arising out of the scam.

Updated Date:

also read

PNB scam: Company that conducted forensic audit of Nirav Modi's firms under scanner for tax evasion
Business

PNB scam: Company that conducted forensic audit of Nirav Modi's firms under scanner for tax evasion

A Belgium-based company, which conducted a forensic audit of Nirav Modi's firms, is under the scanner for alleged tax evasion.

PNB scam: Supreme Court agrees to hear plea seeking SIT probe in the Rs 11,000 crore fraud on Friday
Business

PNB scam: Supreme Court agrees to hear plea seeking SIT probe in the Rs 11,000 crore fraud on Friday

The Supreme Court on Tuesday agreed to hear on Friday a plea seeking an SIT probe and other reliefs in the over Rs 11,000 crore PNB fraud.

PNB scam: Nirav Modi alleges woman employee of his firm was 'illegally' arrested by CBI, writes letter to ED
India

PNB scam: Nirav Modi alleges woman employee of his firm was 'illegally' arrested by CBI, writes letter to ED

Nirav Modi has alleged that he was right in being concerned about the "unfairness of process", going by the way a woman employee of his firm was arrested