Banking sector plays vital role in Indian’s economy. In Banking sector now a days there has been a rapid growth. However with all functionality of bank there is one of the flow which has drastically increased in banking sector is ‘Frauds’ In spite of various observations and regulations being introduced to reduce the frauds, still it is observed that frauds are being committed. This paper aims at study of Nirav Modi case. A study was conducted on the impact of frauds on Punjab National bank by Nirav Modi. This study is based on secondary data collected from various reliable sources