How Nirav Modi planed to list his company using $1.5bn of siphoned off money from India's PNB Bank

Nirav Modi swindled Punjab National Bank of 11,336 crores, about $1.5 billion by taking advantage of India's lax financial system. What are LoUs, nostro accounts and roll-overs and how they were misused.
#niravmodipnb #pnbscam #pnb

Bisbo’s earlier video on online scams:
—————————————————————-

Bisbo's other Business-related stories:
---------------------------------------------------

Bisbo's Limerick:
---------------------
Don't forget to watch Bisbo's Limerick at the end of each video, that neatly sums up the topic.

Support us with as little as $2 a month or get your name featured in our videos:
---------------------------------------------------------------------------------------------------------

Follow #Bisbo on Twitter:
--------------------------------
@BisboGo

UPSC
---------
Use this video to prepare for UPSC and civil services examinations.

[SaumilBhanshali]

Better explained than the pink papers and business channels combined !!

[AAA_Tech]

Other questions worth asking - why does a guy like Nirav Modi get multiple LoUs without collateral? How does crores worth of LoUs get approved in LoU - isn't the bank system flawed if single person is responsible to sign-off on such heavy loans? Are the people who signed-off on LoUs punished?


Had there been proper audits/ checks-and-balances in the bank system, would this have occurred? How do we prevent repeat of this incident?

[drrao]

Good job !! Easy to understand cartoons 😁 even kindergarten students can grasp it,

[featuregirls]

great video as always precise and straight to the point

[mridulkrishansharma]

I just came here to appreciate the thumbnail title 😂😂😂..it was funny !!😂😂

[shuvamchatterjee]

You will make part-2 of this video, when the fugitive is deported back to India and how India finally got hold of him.This story is still incomplete.

[rajatram]

We dont need any extrnal medium for harm to economy we have inside many i am just wondering how many more to come.

[reshikedia]

Your videos are very knowledgeable and helpful I wish that it grows faster

[jamesrohan]

Idk who to blame more
Nirav modi or pnb bank 🏦

[yashshrivastava]

Everyone pls share these videos with everyone.

[Alan-mpcs]

Can u do a video on normal ways how our bank ways work?.i know those are basics.but still it would help me a lot.

[akashzz]

a doubt, if the new officer gave roll over and nirav public lists as planned, he would have payed back all the lous and no scam would there? is it right

[sweetyogurt]

Shetty said LoU are being issued from 2008

[karanmadan]

This reminds me of a person in newspaper with headline, U want dollar instead of rupee in India, possible.Hate this headline.Once did ask someone on internet (finance company) need money to pay loan.Reply "loan to pay loan, crazy."Didn't took money, took his advice.

[jackiejackie]

Why is my internet speed so slow if I check my download speed it says it's around 4 Mbps but when I download something it's speed is like 10-100 kbps

[CaptainNahdin]

Pls do a video on Saudi Arabian economy

[Slayermunch]

Nice video Nicely explained but the backgrOund music are too much.

[sandipshah]

Sir. Music badly damaged your video. It's distrurbing rather interesting.

[mohit]

How can indian government find him and make him pay.

[fenilk]

Bisbo please make a video on ROTOMAC Scam