What comes as an irony is that Punjab tiol Bank (PNB) who is engulfed in controversy for its Rs 11,400 crore fraud case because of Nirav Modi, was awarded for excellence in banking vigilance.
According to reports, PNB won three awards for its banking vigilance in last few years. Two of its awards were awarded in 2017 and was given out by Central Vigilance Commissioner (CVC) KV Chowdary. It’s website states that it also won IPE vigilance award in 2014-2015. In 2017, PNB’s Chief Vigilance Officer S K gpal received “Corporate Vigilance Excellence Award” at “Vigilance Conclave” organised by the Institute of Public Enterprise (IPE), at Osmania University, Hyderabad.