The Rs 12,600 crore fraud in the Punjab National Bank took a new twist. The Central Bureau of Investigation (CBI) officials served notices to top officials of the private banks. They are ICICI Bank Managing Director Chanda Kochhar and Axis Bank Managing Director Shikha Sharma. The notice was served to ICICI Bank for extending working capital loans to a consortium of the Gitanjali Group. Axis Bank has received notice for issuing Letter of Undertakings (LoUs) to Nirav Modi Group and Gitanjali Group.
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