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| 17 February, 2018

Indian court sends three accused in PNB fraud case to police custody

The court in Mumbai ordered they remain under police custody

People wait in a queue outside a Punjab National Bank ATM in New Delhi, India, February 16, 2018.

People wait in a queue outside a Punjab National Bank ATM in New Delhi, India, February 16, 2018.

REUTERS/Saumya Khandelwal

NEW DELHI: An Indian court on Saturday ordered three people arrested by the federal police on suspicion of involvement in a $1.77 billion fraud at state-run Punjab National Bank to remain under police custody until March 3.

The three were arrested late on Friday, marking the first arrests in a fast-widening probe into the country's biggest bank scam. 

The court in Mumbai ordered they remain under police custody and said the agency must get a fair chance to investigate the case, citing the potential consequences to the country's economy.

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(Reporting by Rajendra Jhadav; Editing by Alison Williams) ((manoj.kumar@thomsonreuters.com; +91 11 4954 8029; Reuters Messaging: manoj.kumar.thomsonreuters.com@reuters.net))