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CBI arrests 8 Punjab National Bank officials for alleged misuse of LoUs worth Rs 9 crore

Updated : December 20, 2018 06:43 AM IST

An LoU is a service whereby the bank guarantees a customer's payment obligation of a specified amount to an overseas bank.
In March, the agency had filed a case pertaining to fraudulent issuance of LOUs amounting to Rs 9 crore to Chandri Papers and Allied Products by the PNB's Brady House branch.
CBI arrests 8 Punjab National Bank officials for alleged misuse of LoUs worth Rs 9 crore
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