The development comes as raids are being conducted in at least 20 locations related to the Gitanjali group of companies, promoted by Nirav Modi's maternal uncle and business partner Mehul Choksi, in six cities and five states.
Rajnish Kumar also pointed out that the SBI has "a small exposure to Gitanjali Gems", owned by the uncle of Nirav Modi, Mehul Choksi, "but it is not a point of worry".
The party asked why the government was silent on the issue and how did it and the agencies permit billionaire diamond merchant Nirav Modi, his uncle Mehul Choksi and others to leave India.
Earlier today, the MEA had suspended with immediate effect the passports of Nirav Modi and his business partner Mehul Choksi for four weeks.
In public life, dignitaries and politicians get their photographs taken with thousands of people, and it is next to impossible for any dignitary to check the credentials of each and every individual.
Sunil Mehta, Managing Director and Chief Executive Officer of Punjab National Bank said the bank "will not spare anyone" involved in the crime.
The passport issuing authority of the Ministry of External Affairs (MEA) has also suspended validity of passports of Nirav Modi and his business partner Mehul Choksi for a period of four weeks.
Besides Allahabad Bank, names of 16 banks including SBI, Union Bank of India and Axis Bank have also featured in the list banks that offered credit on PNB's LoUs. Among them, the Allahabad Bank has the largest exposure.
Shares of Punjab National Bank continued to reel under selling pressure for the third consecutive day after the detection of a massive Rs 11,400-crore fraud. It ended lower by 2.10 per cent.
The PNB had filed the complaint on February 13 in the Rs 11,515 crore ($1.8 billion) fraudulent transactions.
Modi and Choksi, who are believed to have fled the country in the first week of January, have been summoned under the Prevention of Money Laundering Act (PMLA) and asked to appear before the agency within a week's time.
By paying the other banks, reports said, only the balance sheet of PNB will suffer and thus others will not have to make provisions. As many as 30 banks discounted the bills based on PNB’s LoUs.
Nirav, who is alleged to have carried out fraudulent transactions worth over Rs 11,400 crore in Punjab National Bank, had left the country on January 1, while his uncle and business partner Mehul Choksi, left on January 4.
The searches by the agency span across six cities in five states, in connection with the fraud involving Nirav Modi, Mehul Choksi and other family members.
The count of suspended Punjab National Bank employees has risen to 18 with the suspension of 8 more employees.
Nirav Modi, who holds an Indian passport, left India on January 1, while his brother Nishal, a Belgian citizen, departed from the country on same day. However, whether they travelled together has to be probed, they said.
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