Newsmakers of 2018: How Nirav Modi and Mehul Choksi set off a raging political firestorm
Updated : December 20, 2018 03:28 PM IST
The PNB fraud, billed as the biggest fraud in India's banking history, exposed several shortcomings in the management of the public sector banks and hurt confidence in India's state-run banking sector, which controls more than two-thirds of the country's bank assets.
While Congress accused the Modi government of assisting Nirav Modi and Choksi to flee the country, the government, in its defense, maintained that the scam was ongoing since 2011.
Modi and Choksi have both denied any wrongdoing.
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