Question

Why scams like nirav modi happen with indian banks?

Answer 1

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“It has been observed that the company has misappropriated bank funds, and manipulated books of accounts to raise funds from consortium lender banks,” PNB said. The scam came to light during a forensic audit, after which India’s central bureau of investigation (CBI) filed a suo motu complaint against the company, the bank added. The audit was also conducted by the CBI, the Times of India newspaper reported.

Answer 2

Explanation:

“It has been observed that the company has misappropriated bank funds, and manipulated books of accounts to raise funds from consortium lender banks,” PNB said The scam came to light during a forensic audit, after which India’s central bureau of investigation (CBI) filed a super motu complaint against the company, the bank added . The audit was also conducted by the CBI, the Times of India newspaper reported ..