The Punjab National Bank fraud had been committed in connivance with both bank officials and politicians and was "a major blow" to the BJP-led NDA government's claim of corruption-free governance, Puducherry Chief Minister V Narayanasamy charged today.
"Main conspirator, diamond merchant Nirav Modi has connived with both the bank officials and politicians at the helm of affairs in committing the fraud," he told reporters here.
He said the more than Rs 11,000 crore fraud was "a major blow to the BJP governments avowed principle of corruption-free administration."
Narayansamy, who was here enroute to the Lord Muruga temple in nearby Tiruchendur, also said the non-performing assets of banks now stood at more than Rs six lakh crore as compared to about Rs 85,000 crore when UPA demitted office.
He accused the BJP-led central government of adopting step-motherly attitude in granting funds to non-BJP ruled states and union territories, including Puducherry.
He criticised Tamil Nadu Governor Banwarilal Purohit's review meetings with district officials directly.
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