During the questioning of officials of Indian banks posted abroad, the CBI asked them why several discrepancies in the LoUs issued by PNB were not considered. “This should have evoked suspicion in the minds of overseas branches of Indian banks extending buyers’ credit. During the questioning of officials of Indian banks posted abroad, the CBI asked these crucial questions. The accused PNB officials did not enter the instructions for these LoUs in their internal software to avoid scrutiny. The PNB officials allegedly sent these messages to Indian banks—Canara Bank, State Bank of India, Bank of India, Axis Bank, Allahabad Bank—located in Antwerp, Hong Kong, Bahrain, Mauritius, Frankfurt.

Source: Mint April 12, 2018 15:11 UTC