News digest: PNB fraud, Essar Steel auction, Rotomac scam, and more

Private companies would soon be able to mine and sell coal in India, alongside state-owned Coal India

PNB fraud: Govt to chase down those who cheat banking system, says Jaitley

Finance Minister Arun Jaitley on Tuesday blamed senior officials of public sector banks (PSBs), lenders’ auditors and the regulator for financial fraud. Read More...

PNB crisis: RBI's Malegam-led panel to look into NPA divergence, bank fraud

The Reserve Bank of India (RBI) on Tuesday constituted an expert panel that will look at the divergence in asset classification and provisions reported by banks vis-à-vis those interpreted by the central bank’s auditors, and also to examine the rising incidence of fraud in the banking system.