Senior bank officials likely to face charges in PNB case: Reports

According to reports, the CBI will bring charges against senior officials on Monday. This comes after CBI conducted an investigation into the $2 billion fraud at state-run Punjab National Bank (PNB). PNB, India's second-largest state-run bank, in February alleged that two jewelry groups defrauded it by raising credit from overseas branches of other Indian banks using illegal guarantees issued by rogue PNB staff.

Following its probe, the Central Bureau of Investigation on Monday will be filing a charge sheet in a court naming people who have allegedly violated the laws with their involvement in the bank fraud, a police source said. Apparently, the charge sheet will likely name senior Indian bank officials.