According to ED sources Sunil Mehta said the fraud took place due to "systemic failure" and "procedural lapses", owing to lack of interface or proper links between the core banking software and the SWIFT interbank messaging system.
Tiger Woods won the Masters for the fifth time on Sunday to land his 15th major title and first since 2008.
The Enforcement Directorate, which continued its searches against Modi, Choksi and their companies for the fourth day on Sunday , is also moving to attach at least two dozen immovable properties under the Prevention of Money Laundering Act.
Ireland beat Bosnia 2-0 to qualify for their second successive European championship finals on Monday, progressing 3-1 on aggregate after a Jon Walters brace secured a second-leg playoff win at the Aviva Stadium.
Images from Day 3 of the 2020 US Open in New York, on Wednesday.
A Ciaran Clark own goal earned Sweden a fortunate 1-1 draw against a spirited Ireland side in their Euro 2016 Group E opener at the Stade de France on Monday.
The Croatian was one of the hottest properties in tennis as a teenager before the personal turmoil of her upbringing caught up with her and she was forced to start all over again in 2008.
The Super Bowl is a big deal in the US and here are some images from the after-match celebrations from the annual football fest. Check out the photos right here...
Here are talking points from the weekend's Premier League action:
It was Kristyna's first win over a top-five ranked player and she will go on to play fellow Czech Barbora Strycova in the quarter-finals.
Indian pair of Atanu Das and Deepika Kumari faltered against American Olympic medalists Brady Ellison and Khatuna Lorig in the mixed section semifinals of the Archery World Cup Stage 3 being held in Medellin, Colombia.
She was the managing director and the CEO of PNB since August 14, 2015 before being appointed in Allahabad Bank on May 6, 2017.
The Income Tax Department on Tuesday also raided 20 premises linked to Gitanjali Gems promoter Mehul Choksi and suspected shell firms in connection with an alleged tax evasion case against them, official sources said.
Rafael Nadal returns to his favourite tournament, albeit not his preferred court, to begin pursuit of a record-extending 10th French Open title on Monday against Frenchman Benoit Paire.
Under the party's rules, May's leadership of the party cannot be challenged for at least a year now.
David de Gea's late own goal earned Sunderland a 2-1 win over Manchester United on Saturday and a vital three points in their bid for Premier League survival.
Deez Nuts, the independent candidate from Iowa, filed to run for the President of the United States with the Federal Election Commission last month.
A large number of public sector bank employees, as a matter of routine, do not "take" promotions so that they are not transferred out of their hometowns. The eastern region is famous for this, but it is a common practice everywhere, says Shyamal Majumdar.
The jewellers and companies linked to Nirav Modi and Mehul Choksi had allegedly colluded with PNB officers to obtain fake bank guarantees to get loan from overseas branches of Indian banks including Allahabad Bank, Axis Bank and UCO Bank.
The problem here is that internal auditors are good at accounts, but they are not trained to track foreign exchange transactions
There are end-of-an-era moments; this was one of them.
Former Wimbledon champion Anne Jones was among British sports personalities included in the United Kingdom's New Year's honours list on Monday.
Five months ago, Britain's Prince Harry and Meghan Markle tied the knot. Now, his cousin, Princess Eugenie -- Queen Elizabeth's grand daughter -- is marrying Jack Brooksbank at St George's Chapel. Here are the highlights from the second royal wedding of the year.
Satyarup Siddhanta is the youngest mountaineer in the world to climb both the Seven Summits and the Seven Volcanic Summits.
The agency on Monday questioned three general managers of the Punjab National Bank who have handled the -International Banking Division and Treasury department of the bank, officials said without revealing their identity.
Theoretically, Modi, who understood corporate finance, committed no crime by raising debt to fund a growing business. In fact, he did a tidy job of it, but his operation started to see the ground underneath it give way in January 2018. A fascinating excerpt from Pavan C Lall's Flawed: The Rise And Fall Of India's Diamond Mogul Nirav Modi.
The latest fraud is a failure of management supervision and accountability, as no bad debt was generated and no cash was involved
Arsenal all but sealed Champions League qualification for an 18th successive season after they eased past relegation-threatened Hull City 3-1 in the Premier League on Monday.
Other candidates emerging in the fray include United Kingdom's longest-serving home secretaries in history, Theresa May, who turns 60 later this year and has reportedly gathered strong support, followed by UK health secretary Jeremy Hunt.
A little over six years after almost losing his life in a training-ground accident with the Ireland team, defender Shane Duffy will probably start one of the biggest games of his career against France in the second round of Euro 2016.
The billionaire jeweller, who has fled the country, in the letter also disagreed with the loan default amount of Rs 11,400 crore and pegged the amount his companies owe to the bank at under Rs 5,000 crore.
The Rs 11,400 crore PNB fraud saga unfolded after a bribery complaint by the Hong Kong branch of an Indian bank.
Chelsea's Belgium forward won Eden Hazard England's PFA player of the year award ahead of Tottenham Hotspur's Harry Kane and Manchester United goalkeeper David De Gea on Sunday.
The agency on Friday also carried out searches on the premises of the Gitanjali Group at 20 places in Mumbai, Pune, Surat, Jaipur, Hyderabad and Coimbatore.
The 32-year-old, five-times a winner of the singles at the prestigious Wimbledon warm-up event, delighted a large evening centre court crowd with some fluent shot-making as he and Spanish veteran Lopez beat top seeds Juan Sebastian Cabal and Robert Farah 7-6(5), 6-3.
Liverpool had to be satisfied with a 1-1 Premier League draw at Arsenal on Saturday as their usually prolific attacking trio were well shackled by their improving hosts.
Stanislas Wawrinka started the run at last year's US Open, followed by a 35-year-old Federer at Melbourne Park and Rafael Nadal in Paris.
Indian roads are far more unsafe than its railways. A sense of urgency is required to tackle India's embarrassing record on road safety.
The 2009 champion who will next face Roger Federer, saved two match points in the fourth set of what was arguably the best of the tournament so far.
Two big derbies and an eventful weekend of football awaits us all...
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