PNB fraud Case: Bank Unions’ massive dharna in Delhi, call for tough action against those involved, connected and responsible

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New Delhi | March 21, 2018 9:22 PM

In the wake of the recent Punjab National Bank scam, the members of United Forum of Bank Unions staged a protest in Delhi regarding demanding a tough action on all those involved, connected and responsible for over Rs 12000 crore scam.

PNB fraud case, PNB fraud case details, mehul choksi , nirav modi, pnb fraud, pnb Rs 13,000 crore fraud, pnb scam, biggest banking scam in india, pnb fraud update, mehul choksi letter, bank union, bank union dharna, united forum of bank unions, PNB scam, RBI, reserve bank of indiaIn the wake of the recent Punjab National Bank scam, the members of United Forum of Bank Unions staged a protest in Delhi regarding demanding a tough action on all those involved, connected and responsible for over Rs 12000 crore scam.

In the wake of the recent Punjab National Bank scam, the members of United Forum of Bank Unions (UFBU) staged a protest in Delhi today regarding demanding a tough action on all those involved, connected and responsible for over Rs 12000 crore scam. On March 9, UBFU had said it would organise a “massive” dharna in Delhi on March 21 in support of its demands. The demands include taking tough action on all those involved, connected and responsible for the PNB fraud. The Bank Unions Forum had called for the dharna in protest against the way fraud cases are being handled by Banks, RBI and Central Government tarnishing the image of all the bankers, victimisation of lower level Bank Staff. It has also demanded not to single out any lower level staff, not to exclude RBI’s role from the investigation, avoid harassment of employees and officers by mass transfers, thorough probe by Joint Parliamentary Committee and restore people’s confidence in the banking system.

According to reports, in addition to the dharna at Jantar Mantar in Delhi, the UFBU would also conduct a mass signature campaign and the same would be sent to the Lok Sabha speaker in April. As per PTI report, UFBU’s Andhra Pradesh and Telangana state units alleged that an orchestrated campaign has been unleashed against public sector bank employees and the banks after the PNB issue came to light.VVSR Sarma, convener of the UFBU AP and Telangana State Units had alleged that suggestions towards privatisation of PSBs are being made in some quarters without acknowledging the pivotal role played by the PSU banks in the country’s growth since banks’ nationalisation in 1969. He added that those corporate and industrial houses which are responsible for the huge bad debts in PSBs are freely suggesting privatisation of PSBs. UFBU has been demanding strict action against loan defaulters.

Punjab National Bank in February had detected over Rs 12,000-crore scam wherein noted jewellery designer Nirav Modi and his maternal uncle and partner Mehul Choksi had acquired letters of undertaking separately to avail credit from various sources. The two have fled the country.

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