Viral Sach: Truth behind claims that PNB account holders will lose their money post 31 March?

The viral message claims that Union Bank of India has given time to PNB till March 31 to return its money, failing to do so, PNB would be will be declared as bankrupt, which would further lead to drowning of all the money deposited by PNB account holders.

The Punjab National Bank which has been defrauded of Rs 11,500 crore allegedly by Nirav Modi and his business partner has on Thursday asked the diamond merchant to come up with a concrete and implementable plan to settle the dues.

New Delhi: A viral message on social media has frightened all the account holders of Punjab National Bank, who have deposited their hard-earned money in the bank; which has been duped of Rs 13,700 crore by diamond merchant Nirav Modi. As per the message, Union Bank of India sanctioned a loan of Rs 1,000 crore to Nirav Modi on the basis of LoU (Letter of undertaking) signed by Punjab National Bank. Now, the viral message claims that Union Bank of India has given time to PNB till March 31 to return its money, failing to do so, PNB would be will be declared as bankrupt, which would further lead to drowning of all the money deposited by PNB account holders. To find the truth about such tall and serious claims, we began our investigation and found out that the fact that PNB is supposed to return Rs 1,000 crore to Union Bank is true, but Punjab National Bank has agreed upon returning Nirav Modi’s entire amount to 7 banks. Therefore, the sufferer here is won’t be the common man or any other bank; but PNB itself. Hence, the claims in the viral message are false.