- (a) - (iv), (b) - (v), (c) - (ii), (d) - (iii)
- (a) - (i), (b) - (ii), (c) - (iii), (d) - (iv)
- (a) - (ii), (b) - (iii), (c) - (iv), (d) - (v)
- (a) - (ii), (b) - (i), (c) - (iv), (d) - (iii)
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Related Questions
Two statements are followed by three Conclusions I, II and III. You have to consider the statements to be true, even if they seem to be at variance from commonly known facts. You are to decide which of the given conclusions can definitely be drawn from the given statements and indicate your answer accordingly.
Statements:
I. Fraud-hit Punjab National (PNB) today said it has no plans to close operations at its Brady House branch, the fountainhead of the Rs. 14,000 crore Nirav Modi scam.
II. Modi and his uncle Mehul Choksi, in connivance with certain bank officials, allegedly cheated PNB of about Rs. 14,000 crore through issuance of fraudulent Letters of Undertaking (LoUs).
Conclusions:
I. PNB's Brady House branch in Mumbai had fraudulently issued LoUs for the group of companies belonging to Nirav Modi since March 2011. PNB has no plans to close operations in the Brady House branch in Mumbai.
II. Reallocation of some of the accounts is part of the regular restructuring process at PNB to strengthen internal systems and processes and centralize certain critical functions
III. With regards to provision made for the loss incurred on account of the Nirav Modi fraud, the bank provided Rs. 7,178 crore, 50 per cent of the total amount of Rs. 14,356 crore, in the fourth quarter of 2017-18. The remaining amount will be covered in the three quarters of the current fiscal year.?
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