SBI chairman Rajnish Kumar said the PNB fraud is more of operational risk and not related to credit risk. Photo: PTINew Delhi: State Bank of India (SBI) chairman Rajnish Kumar on Monday said he expects Punjab National Bank (PNB) to clear the bank’s $212 million (Rs1,360 crore) dues in the Nirav Modi case. Billionaire jewellery designer Nirav Modi is at the centre of the Rs11,400 crore PNB fraud. “As far as our exposure is concerned on PNB, that number is very much confirmed, calculated and advised to PNB,” Kumar said. Kumar also said the PNB fraud is more of operational risk and not related to credit risk.

Source: Mint February 26, 2018 13:07 UTC