Oriental Bank reveals loan exposure to Nirav Modi, Choksi

For the first time, the public sector Oriental Bank of Commerce (OBC) has come clean on its loan exposure to the absconding diamantaires Nirav Modi and his uncle Mehul C. Choksi, here on Friday.

The development comes ahead of the OBC’s upcoming merger with the Punjab National Bank (PNB) which – in February 2018 – had admitted to a massive fraud perpetrated by Nirav Modi and Choksi running into over Rs 13,500 crore, sending the entire banking industry in a spin.

Read More: https://www.bhaskarlive.in/oriental-bank-reveals-loan-exposure-to-nirav-modi-choksi/