PNB Scam: UFBU delegation meets Jaitley, urge to bring main culprits to India

A delegation from United Forum of Bank Unions (UFBU) met Finance Minister Arun Jaitley in Parliament in connection with Punjab National Bank (PNB) scam on Wednesday.

All India Bank Employees Association (AIBEA) General Secretary Ch Venkatachalam has led the delegation to Mr Jaitley.

In a letter submitted to the Finance Minister, UFBU Chairman K K Nair and Convenor Sanjeev K  Bandlish said that necessary and urgent steps have to be taken immediately to bring in the main culprits–Diamond Jewelery Designer Nirav Modi and Gitanjali Group Owner Mehul Choksi to India to take very stringent action against them for defrauding PNB of Rs 12,300 crore.

“You are aware that the entire nation stands shaken by the recent massive fraud that has been perpetrated on PNB. People at large are naturally baffled and perplexed about the manner in which the fraud has been committed on the Bank. It has also affected the confidence and trust of the people about the credibility of our Banks, particularly the public sector Banks.

Depositors are getting concerned about the safety of their hard earned savings. Hence we feel that the issue has to be addressed with a broader perspective”, the letter stated.

The letter also mentioned that in any system, misuse and abuse is possible either from within or from outside and corrective mechanism is also available. But since this massive fraud has eroded the confidence of the people, we strongly feel that Government should come out with necessary statements and measures that will assure the people that those responsible for the fraud will be punished and the system would be suitably corrected to prevent such occurrences in future and that their money in the Banks in quite safe.


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