PNB’s internal auditor at the Brady House branch, M.K. Photo: Abhijit Bhatlekar/MintNew Delhi: The Central Bureau of Investigation (CBI) on Wednesday arrested an auditor of Punjab National Bank’s (PNB) Brady House branch, which is at the centre of an alleged $2 billion fraud, a police spokesman said, bringing the number of bank employees held to seven as the investigation widens. Modi and Choksi left India in January before the fraud came to light. Sharma, was “allegedly responsible for auditing the systems and practices” of PNB’s Brady House branch in Mumbai and for reporting any problems to the zonal audit office. The scale of the PNB fraud has raised concerns about the potential for similar cases across India’s banking sector.

Source: Mint February 28, 2018 14:37 UTC