PNB denies transferring 18,000 staff after Nirav Modi scam

New Delhi, Feb 22: Defrauded Rs 11,300 crore ($1.8 billion) allegedly by diamantaire Nirav Modi, state-run Punjab National Bank (PNB) on Thursday denied media reports that it has transferred close to 18,000 employees on account of the ongoing probe into the scam. In a message on its Twitter handle, PNB clarified that it had transferred a total of 1,415 employees since February 19.  "There have been reports appearing in the media that the Bank has transferred close to 18,000 employees, the same is factually incorrect," the bank tweeted.  "The Bank has transferred 257 Sub Staff, 437 Clerks and 721 Officers (Total 1,415 employees) since 19th February 2018, as per prevailing Rotational Transfer Policy of the Bank."  "The working in the branches is going on smoothly and the above transfers are in no way affecting the customer service in the Bank," it added.  The Bank has earlier clarified with reference to other media reports in this regard that it has enough assets and capital to handle the situation arising out of the scam.