Page 808 - Finance News

IndusInd ties up with blockchain service Ripple to aid global payments

Ripple can now provide instant access in emerging markets such as India, Brazil and China, IndusInd Bank said in a release

Moody's upgrades outlook on IDBI Bank to 'positive' from 'stable'

Expects improvement in capital position and stable asset quality

How state-owned banks function: An explainer of PNB financial fraud

There are no clear regulations and guidelines on how much collateral should be guaranteed as against a loan

PNB scam: Fraud by Nirav Modi, Choksi widens to $2 bn; top 10 developments

The ED has summoned Punjab National Bank Managing Director & CEO Sunil Mehta in connection with the banking scam

PNB fraud: FinMin sets 15-day deadline for banks to fix operational gaps

Punjab National Bank disclosed a $2 billion fraud, stunning the country and putting the lack of supervisory oversight

Rs 114-bn PNB fraud gets bigger: Bank says total dues can be Rs 13 bn more

Punjab National Bank detected the fraud wherein Nirav Modi and associates allegedly acquired fraudulent letters of undertaking

OBC bank fraud: Facing probe, Simbhaoli Sugars says committed to clear dues

Oriental Bank of Commerce has filed a fraud monitoring report against Simbhaoli Sugars

PNB tightens staff transfer policy to ensure irregularities do not recur

Recap not discussed, PNB may approach govt for additional funds

Reserve Bank of India raises currency derivatives limit to $100 million

There would be 12 monthly standardised futures contracts of cross-currencies

CBI issues lookout notice against four accused in Oriental Bank scam

The four directors named as accused by the CBI in the case are - Sabhya Seth, Reeta Seth, Krishna Kumar Singh, and Ravi Singh

PNB fraud case: Key Nirav Modi papers seized from law firm

The CBI, however, clarified that it was not examining the law firm

PNB fraud: Asset-backed securities not affected by scam, says Fitch Ratings

Asset-backed securities are bonds or notes backed by financial assets

PNB fraud: CBI seeks details of nostro transactions from 5 banks

The CBI has written to Canara Bank, Bank of India, State Bank of India, Allahabad Bank and Axis Bank

PNB scam: Govt fast-tracks bill to seize assets of defaulters fleeing India

Currently, confiscation can be done through multiple laws but it is a complicated process

Post PNB fraud, bank unions call off March 15 strike

The union said: 'Instead of a full-scale investigation, attempts are being made to single out a few lower level employees'

Bad news for Gitanjali, PNB, OBC: Few scam-related stocks regain lost glory

From the so-called Ketan Parekh (K-10) stocks to Unitech and DB Realty, scam-tainted stocks have fallen by 90 per cent or more from their all-time highs

OBC fraud: Simbhaoli Sugars says will honour payment commitments

OBC had sanctioned a loan amounting to Rs 1.48 billion in 2011 to the company for financing individual/joint liability groups, self-help groups and cane farmers in a tie-up under RBI scheme

KYC for payment wallets: RBI says no extension beyond February 28

However, customers who have balances in such wallets or prepaid payment instruments need not worry about their money, RBI said

HDFC bank submits report to Sebi over financial result leakage on WhatsApp

Sebi had found inadequate controls at HDFC Bank to be the 'prima facie' reason for the leakage of financial information through WhatsApp

PNB scam: CBI writes to five banks, seeks details of Nostro transactions

The Nostro account refers to an account that a bank holds in a foreign currency in another bank overseas to enable foreign trade by its clients