The officials said several other officers of the bank were being questioned by the agency as well.
They said the examination was focussed on understanding how the crime was detected by the bank and other procedural issues and their violations. They were not being treated as accused, the officials said.
It was alleged that fraudulent guarantees worth Rs 114 billion were issued to Modi and Choksi through 293 Letters of Undertakings.
According to the website of the PNB, Rao is in charge of the integrated risk management division, credit (operations), monitoring of accounts with exposure of above Rs 500 million, including stock audit and Portfolio Management Service (PMS), industrial rehabilitation and action taken on borrowed frauds reported from Mumbai, where the alleged fraud took place.
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