Govt fires 2 PNB executives for failing to stop $2 bn scam: Report

The government has fired two senior executive directors of Punjab National Bank for allegedly failing to prevent $2-billion loan fraud by businessman Nirav Modi, reports said. The two fired executives were accused by the CBI of breaching the RBI guidelines, the reports added. Nirav and his uncle Mehul Choksi are accused of fraudulently raising money in foreign credit.