Questions aplenty as Nirav Modi pulls off a dramatic heist…

The big news is that despite the Reserve Bank of India’s (RBI) claims that public sector banks are well-prepared to deal with monetary frauds post the infamous Vijay Mallya fiasco, jeweler Nirav Modi has been able to dump the authorities by stealing somewhere close to INR 11,500 crore in driblets of foreign currency.  What comes as a bigger surprise is the fact that neither the internal auditors nor the people in power were able to unearth the fraud. Continue reading “Questions aplenty as Nirav Modi pulls off a dramatic heist…”