NiMo’s 11.3K crore loot – Media and Modi government Making Fools of People

Nirav Modi – the swindled riches

The media, CBI, the government and the opposition parties want us to believe that Rs 11,300 crore is siphoned off with the help of a fax operator (SWIFT transmission) and his supervisor in PNB.

Come on! This is not a few thousand rupees loan, this is an exposure of eleven thousand fucking crores!

If you ask for a loan of 5 lakh from the bank the branch manager may authorize and sign the allocation. For loans of a few crores or more it will go to the regional loan department. For any corporate loan from a bank amounting to hundreds of crores, the decision will be taken at the board of directors level. Here, we are asked to believe that Rs 11,300 crore exposure was created by junior level executives and managers.

  • The Global Indian Brand by Nirav Modi

    The Internal audit of the bank did not catch it for 7 years

  • The external auditors employed by bank did not find it for 7 years
  • RBI which is supposed to be the banking watch dog, did not know about it.
  • The banks which gave loans based on PNB’s LoUs did not verify it.
  • The employees did not get transferred for 7 years (which is against banking norms)

There is a news doing rounds that the bank’s core banking software – Infosys Finnacle – does not track SWIFT transactions. If the software does not cover SWIFT transactions, any reasonable top management should get physical reports of such transaction to make sure nothing goes wrong. What did the top management do for 7 years?

Nirav Modi – branding

This is the state of digitization of banks when Modi government pulls the 120 crore population into Digital World.

  • Rs 11,300 crore can build 2 of Antila of Mukesh Ambani
  • Rs 11,300 crore can pay salary for 1 lakh employees in IT/ITES at Rs 10 lakh per annum.
  • For earning Rs 11,300 crore an auto driver should work for 8 lakh lives.

These numbers would seem enormous. But, they are real.

Lavish world of Nirav Modi (using Indian people’s money)

Using this money,

  • Nirav Modi funded his “global Indian luxury brand” campaign to compete with Tiffany and Cartier.
  • He paid Priyanka Chopra as the brand ambassodor.
  • He held lavish launch parties for his jewellery designs.
  • He bought companies and opened luxury jewellery shops all over the world.
  • He designed jewellery set worth Rs 105 crore.

Nirav Modi moved with British royals, prime minister Modi, Congress prince Rahul Gandi and others.

All this, using the money of Indian people.

But this is considered as the measure of success by the Indian elite, in a country where crores of wage workers go without food till they find their next job.

These kind of money is swindled by the elite for their lavish living, while the middle class jumps through multiple hoops to get a home loan and spends the rest of their lives paying the EMIs.

Now Nirav Modi is holed up in an up market New York City hotel and CBI is arresting his accountant and a deputy manager and a clerk of PNB.

Will NaMo get NiMo using his friendship with Trump?

Incidentally, Times of Indian reports that the hotel Nirav Modi is staying is just a short five-minute walk from Trump International Hotel and Tower. Narendra Modi has a very good friend in Donald Trump as President of US. As Narendra Modi did when the Maldives crisis flared up, he can pick up the phone and ask Trump to send a commando force into Nirav Modi’s hotel to arrest and send him to India. After all, legal procedures and international practices never stopped Trump and Modi back from doing a thing when they or their billionaire friends really want it.

Will he do it?

– The Concerned Indian Citizen

Permanent link to this article:

Leave a Reply

Your email address will not be published.

%d bloggers like this:
Read more:
IT Employees announce demonstration in solidarity with TN farmers protesting in Delhi!

On the efforts of IT Employees from MEPZ, Tidel Park, DLF and other places in co-ordination with NDLF - IT...

Stand with striking Nurses!

"Edapadi" government not responding to Nurses' demands, threatens them with police! Nurses toil day and night to save our lives!...