Union minister Arun Jaitley blamed auditors of Punjab National Bank (PNB) for the 11,000 cr. loot by diamond jeweller, Nirav Modi. While every transaction by the bank has to be audited daily and by Reserve Bank of India (RBI) on a regular basis, how come the scam took place, he wondered. Meanwhile, the auditors are on record stating that they had red-flagged all the suspicious deals. Also, about 11 PNB officials have been suspended for alleged involvment in the loot. Jaitley however, went hammer and tongs at the auditors.
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