By on March 3, 2018

Nirav Modi and his uncle Mehul Choksi exploded on the front page with the PNB (Punjab National Bank Scam) Fraud. The largest scam ever to hit the Indian Banking system . The question arises “Is the common man going to feed the crony capitalism even after Independence acting as slaves? “

Punjab National Bank is the centre of a  $1.8 bn fraud of Rs 11, 380 Crore , the total amount nearly double the amount of money that the government infused into the banking system.  The video revealed a gathering at the PM’s residence with Modi referring to Mehul who was present as “hamare Mehulbhai” . So , we Indians don’t stand anywhere without “bhai”- the omnipresent word.   We can’t just let off our “Bhai”  as “bhai-passed”.

With thousands of banks being unfolded, we’re forced to lament, chal mere bhai or you may say as bhai ho to aisa! We in India are flouting towards brothers and brother-in-law.  From Narendra Bhai to Mukesh Bhai to Salman Bhai and now finally its Nirav Bhai and Mehul Bhai- all the way “Ahemdabad Chokroso….Su koro cho”.

No we don’t have too much equality or liberty but certainly we have some fraternity. So… don’t forget on one note, whatever you do now a days … Big Brother is always watching.

Did you know ?

Punjab National Bank or PNB which earlier this month announced detection of an alleged fraud worth an estimated Rs. 11,400 crore at one of its Mumbai branches, on Monday said the amount of the scam could go up by Rs. 1,300 crore. That would make the PNB scam to be worth Rs. 12,700 crore. At Rs. 11,400 crore, the PNB scam is already one of the biggest in the country’s banking system. The bank also referred to its filing made on February 14 when it first disclosed the fraud and at that time, the “fraudulent and unauthorized transactions” was estimated at $1.77 billion (about Rs. 11,400 crore). PNB shares slumped over 7 per cent to fresh 52-week low of Rs. 102.10 in early trade today.

Punjab National Banks Chief Executive and Managing Director Sunil Mehta admitted the collusion of employees in an undertaking while being questioned by the Enforcement Directorate. He said the fraud took place due to “systemic failure” and “procedural lapses”, owing to lack of interface or proper links between the core banking software and the SWIFT interbank messaging system.

So from this we come to understand that in India “bhai” goes by many name : sometimes big dada, sometimes anna or mottabhai. As far as Nirav and Mehul is concerned , they are such beloved brothers of VIP class that all are waiting  to celebrate bhai dhooj !

Now that’s a family secret like family silver where already Mallayabhai and Lalitbhai hhave sung the song and decamped for distant shores. Irrespective of all investigation the ‘bhais’ are planning to cash on brotherly love. They are all underworld and bhais’ are even at the top of the world. Its’ not for the first time that Indias’ billionaire bhai has been non traceable for years. But can we really know when the Bhais’ will be under arrest for exploiting so many employees and pressuring them to work and finally coming out with such PNB Fraud.