Page 809 - Finance News

PNB suffers Rs 145 bn loss due to fraud in FY18 so far: Govt

PNB has stated that it has adequate assets or capital to meet any liability which may crystallise on the bank

PNB starts Mission Parivartan to curb repeat of another Nirav Modi scam

A new monitoring group will be set up to keep track of whether cash flow from projects is being used to repay bank loans and that there are no slippages, sources said

Honoured all Letters of Undertaking during 2011-16: PNB to Finance Ministry

The bank also issued 234 LoUs worth Rs 18.8 bn to another group of companies promoted by Mehul Choksi in 2015 and 2016

PNB blames concurrent auditor for not flagging off SWIFT transactions

Reconciliation of SWIFT messages with trade module of the core banking system was not followed and the concurrent auditor did not point out this irregularity, the lender said

Govt sources refute Vinod Rai's claim, say FM met him on several occasions

On Monday, Rai had alleged communication breakdown between FinMin and BBB; FM likely to respond soon

CBI files FIR in Rs 8-bn 'loan fraud' by Kanishk Gold; carries out searches

The company engaged in manufacturing gold jewellery which was marketed under the brand name 'Krizz' which were sold through distributors till 2014

IDBI's 30% stake sale in NSDL delayed; transaction may spill over to FY19

IDBI Bank has been selling non-core investments through 2017-18

PNB woes spur Goldman to downgrade India's economic growth forecasts

The Goldman warning is a blow for the govt, which had hoped that a $32 billion, two-year, bank recapitalisation programme it unveiled last year would help Indian banks to begin to restart lending

Hit hard by Nirav Modi fraud, PNB embarks on 'Mission Parivartan' drive

As part of the participative approach, the bank has created 'Lead the Parivartan' portal to engage all in the transformation process

India's dollar buyer likely to step back as capital inflows drop

Still, dipping into RBI's reserves to sell dollars will be easier said than done

CBI court awards 3 years jail term to 4 persons in Rs 70 mn bank fraud case

The judge sentenced jewellery businessman Naresh Choksi and chairman of Classic Co-operative Bank Limited, Suresh Gatecha

ICICI Bank raises Rs 40 billion via bonds, money to be used to fund growth

The bonds would be listed on the Wholesale Debt Market segment of BSE or National Stock Exchange of India

Private banks' market share to touch 50% in 5 years: Uday Kotak

Aadhaar-based KYC will be the future of banking, says Nilekani

Domestic investment bankers rake in hefty bonuses as issues swell

All-time high mop-up of Rs 1.2 trillion through IPOs, QIPs in 2017-18

Rai alleges communication breakdown between Banks Board Bureau and govt

Rai said the BBB was not aware of progress made on reforms as "there has been no further engagement with the government"

NPCI asks banks to reject UPI transactions from non-compliant apps

Circular makes it mandatory for all UPI apps to support transmission of money through VPA, generate QR codes for Bharat QR or UPI QR

Axis Bank customers with balance of Rs 100 mn and above to get 6% interest

New rate will be effective March 19

CBI charge sheet against ex-Canara Bank CMD in Rs 680-mn loan default case

The agency has alleged that Guptas knew Dubey and used the connection in getting loans

Nirav Modi indirectly challenging PMLA case via his firm: ED to Delhi HC

The company's plea was misconceived and premature, the ED said, adding it was presently at the stage of search and seizure as well as retention of records

Rs 129-billion scam fallout: RBI to resolve impasse over PNB liabilities

Finance ministry officials said the central government was not authorised to examine loan accounts above Rs 50 million and hence could not resolve the disputes among banks