More arrests made over Punjab National Bank scam

Another three employees of Punjab National Bank (PNB) have been arrested in connection with a $1.8bn fraud case. The latest arrests included two managers of the bank's foreign exchange department. Three people, including two bank staff, were arrested last week. Celebrity jeweller Nirav Modi, the alleged kingpin of the largest banking scam in the country's history, has said PNB's overzealousness shut the doors on his ability to clear the dues in a letter to the Punjab National Bank's management. It is alleged they obtained fraudulent advances for payments to overseas suppliers worth about $1.8bn (£1.3bn) from the Indian government-run lender. India's Prime Minister Narendra Modi has not commented on the case and no charges have been filed, as of yet.