February 19, 2018 / 4:38 AM / a month ago

CORRECTED-India's federal investigator seals PNB branch at heart of fraud - state TV

(Corrects figure in first paragraph to $1.77 billion, not million)

NEW DELHI, Feb 19 (Reuters) - India’s federal police has sealed the Mumbai branch of Punjab National Bank at the centre of a $1.77 billion loan fraud involving billionaire jeweller Nirav Modi, state television said on Monday.

Three people including two employees of Punjab National Bank, India’s second largest state lender, have been arrested in the biggest fraud case in the country’s banking history. (Writing by Sanjeev Miglani; Editing by Malini Menon)

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