CBI arrests PNB manager in ₹183-crore fake bank guarantee scam
Two persons, including Punjab National Bank (PNB) branch manager, was arrested by CBI over a ₹183.21-crore fake bank guarantee scam linked to irrigation projects in Madhya Pradesh. The scam involved an Indore-based company using fraudulent guarantees to secure government contracts worth ₹974 crore. The probe found that Kolkata-based syndicate was providing fake bank guarantees to secure projects.