The government is “thoroughly investigating” the fraud in Punjab National Bank (PNB) and is taking steps for the extradition of absconding billionaire jeweller Nirav Modi, said Union Minister of State for Finance Shiv Pratap Shukla here on Saturday.
“We are thoroughly investigating the PNB fraud and are not going to spare any of those involved in it,” Mr. Shukla said at an Assocham meet.
“Looking at the gravity of the act committed by Nirav Modi, the government of India will surely work towards his extradition and will punish [those involved] for all the frauds,” an Assocham press release said quoting Mr. Shukla.
On being asked about the impact of the fraud on the government’s decision to merge public sector banks, the Union Minister said, “We cannot comment on that without considering each and every aspect of the issue.”
