The bank has complained to the Central Bureau of Investigation that Nirav Modi, India's richest diamond trader may be responsible in siphoning off $1.77 billion or just over 11,000 crores from its Mumbai branch.
This would be the bank's second complaint in nearly a month, that it has indicated Modi's involvement in a scam. The first one was filed during the third week of January 2018. The bank had then complained Modi responsible for a Rs 270 crore scam.
In the recent $1.77 billion scam, Modi and another unnamed jewellery company have been alleged as masterminds.