Page 809 - Finance News

Rs 980-mn OBC bank fraud: CBI books Simbhaoli Sugars; top 10 developments

With the latest development, the bank could be looking at losses to the tune of Rs 5 billion

PNB fraud: Nirav Modi may face non-bailable warrant; top 10 developments

As part of its probe in the PNB fraud case, ED will send judicial requests to over a dozen countries for obtaining information about the overseas businesses and assets of Nirav Modi and Mehul Choksi

PNB scam fallout: Govt is revisiting plans of a bank-holding company

Such a company will hold the Centre's entire stake in PSBs and raise capital for them

Axis Bank to focus only on better-rated borrowers as bad loans soar

The bank is one of the worst-affected in the private sector after the Reserve Banks asset quality review

State Bank of India in UK set for major restructuring

All retail branches of SBI in the UK will fall under a new UK-incorporated banking entity instead of their previous status as overseas branches of the Indian entity

Banks struggle with farm loan target due to waivers, may lean on PSL certs

But they may achieve overall priority sector lending norms, as corporate loan growth has been slow

Catholic Syrian Bank to increase equity to allow Fairfax on board

Fairfax investment values bank at Rs 23 billion

PNB fraud: ED to trace assets of Nirav, Choksi from over dozen countries

The countries where the LRs would be sent include Belgium, Hong Kong, Switzerland, the United States, the United Kingdom, Dubai, Singapore and South Africa

ICAI assures 'accelerated inquiry' into auditors' role in PNB fraud

The Institute of Chartered Accountants of India (ICAI) has already issued show cause notice to all central statutory auditors of PNB and the auditors of Gitanjali Gems

PNB fraud: Banks for raising insurance cover against fraud by staff

For example, SBI alone in 2016-17 reported frauds of Rs 24.24 billion

Rs 114-bn PNB scam: CII for privatisation of public sector banks

The CII president said financial malfeasance perpetrated by unethical business entities and corrupt officials should not lead to a situation where funds to industry get choked

Foreign lenders review counter-party limits on Punjab National Bank

This, after rating agencies are reportedly placing PNB's rating under watch for a possible downgrade

PNB fraud: Surat traders hope scam won't take shine off diamond business

According to him, the LoU facility is not widely used by the Surat-based diamond processing firms

PNB scam, possible Fed rate hike spur Rs 100 bn FPI sell-off in Feb

This is against the total inflow of over Rs 137.8 billion by foreign portfolio investors in January

Nirav deposited Rs 900 mn in PNB hours before note ban: NCP's Majeed Memon

Prime Minister announced the ban on Rs 500 and Rs 1000 Indian rupee notes, on November 8, 2016

Rate hike by RBI likely as recovery is in nascent stage: Morgan Stanley

Morgan Stanley's base case assessment remains that the RBI will hike in 4Q18

PNB fraud: Business lending shouldn't come to a standstill, urges Assocham

PNB lodged two financial fraud complaints of Rs 11400 crore and Rs 280 crore against Nirav Modi, his family members and Mehul Choksi

PNB scam: Passports of Nirav Modi, Mehul Choksi revoked, say MEA sources

Ministry sources said that future course of action will be taken on the advice of the investigation agencies

Another PNB scam: After Nirav Modi, Rs 6.2 mn Mudra loan fraud reported

Senior branch manager at PNB's Barmer branch in Rajasthan dishonestly and fraudulently sanctioned, disbursed 26 Mudra loans

Rs 114-bn scam: CBI questions PNB CEO Sunil Mehta, Director Brahmaji Rao

Questioning of 12 arrested accused persons continued on Saturday, a CBI official said