International Journal of Advanced Research and Development

International Journal of Advanced Research and Development


ISSN: 2455-4030

Vol. 3, Issue 3 (2018)

The Punjab national bank: Nirav Modi Scam, 2018

Author(s): Serah Sudhin
Abstract: Banking is a sacred institution that promises to uphold the trust of the common man in its workings and intentions. No Bank is primed to fail when the ‘Books of Accounts’ are crystal clear and its operations are open to scrutiny and moral audit. However, a ‘Bank’ is said to destroy the edifice of the trust in the very economy when it encourages underhand dealings with the help of covert accomplices who are high and mighty, perhaps government officials. The fraud is not merely a financial loss, but a stain on the records of the institution and upon the every mechanism that enables it to coherently represent the voice of the people. In this paper, we are going to delve into the unrighteous nexus that was exposed only after the act was beyond remedy. The Bank in question is the ‘Punjab National Bank’ which will be ever remembered in history for this one scandalous deed. Remember: The word ‘Bank’ in itself is synonymous with trust/reliability/promise.
Pages: 180-182  |  309 Views  119 Downloads
International Journal of Advanced Research and Development
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