Page 814 - Finance News

PSB stocks continue to reel after PNB fraud case; drop as much as 10%

Investors continue to dump state-owned banks; Fraud weighs on overall markets as Nifty erases all 2018 gains

How $2 mn-City Union cyber theft is similar to $81 mn Bangladesh bank heist

Hackers disabled City printer connected to global payments platform SWIFT, preventing bank from receiving messages for three fraudulent payment instruction

PNB solely liable for fraud: Affected public sector banks tell govt

PSBs say will resolve payments issue bilaterally

Bankruptcy rules for individuals may be delayed due to workload of DRTs

The government planned to notify the bankruptcy provisions last year itself

Rs 114-bn PNB scam: Govt seeks RBI's view on lapses in banking system

In its letter, finance ministry has pointed to sections 35, 35A and 36 of the Banking Regulation Act, 1949, to highlight the powers and functions of the RBI as regulator

PNB's haste closed all options to clear debt, Nirav Modi tells banks

Your actions have destroyed my brand and the business and have now restricted your ability to recover all the dues, said Nirav Modi

PNB fraud: Banks Board Bureau may wind up in March after Vinod Rai's exit

It is unlikely the government will look for a successor to Rai, sources familiar with the developments said

Axis Bank follows the trend, raises MCLR by 10 basis points to 8.4%

This is the second time during the past two months that Axis Bank has hiked its MCLR

HDFC chief sees green shoots all around, investment cycle reviving

The economic survey has pegged growth at 7-7.5 per cent for FY19

Industry chambers for privatisation of PSBs, Congress against idea

Ficci President Rashesh Shah argued a dynamic banking sector was the need of the hour

Scam-hit Punjab National Bank says enough arrangements for customers

However, PNB added realisation of any specific asset would be decided at the time of need with the approval of board

Scam-hit PNB asks Gitanjali group companies to pay Rs 10.45 billion

Gitanjali Gems also released resignation letter of Independent Director S Krishnan

Revealed: Nirav Modi's Taiwan, Surat, Hong Kong & Dubai connections

Documents accessed by Business Standard show owners of suspected Hong Kong-based shell companies are spread across the globe

Govt tells PSBs to integrate banking systems, rotate staff as a policy

PNB's former deputy branch manager, Gokulnath Shetty, now charged with having initiated the fraudulent transactions, was at its Brady House branch for over seven years

Put more safeguards: Letter to BS on Nirav Modi's fraud at PNB

With the mother of all bank scams showing the authorities in poor light it is imperative for the regulator and banks to put more safeguards in place

PNB fraud is a clear cut case of no systemic accountability: Letter to BS

It is remarkable that despite losing Rs 2.65 trillion in a decade no head of institution has lost his job, leave alone face prosecution

Indian banks taking hit of $3 bn due to PNB fraud is false news: Govt

The fraud involved issue of illegal letters of undertaking and foreign letters of credit favour Nirav Modi and Gitanjali group of companies which were unauthorised by bank

I-T dept attaches 7 properties of Mehul Choksi, Gitanjali group in Mumbai

I-T sources said while four of these attached assets were in the name of Gitanjali Gems Limited, two were in the name of Mehul Chinubhai Choksi and one in the name of Gili India Limited

Nirav Modi diverted Rs 12.16-bn SEZ diamonds to domestic market: I-T Dept

Instead, low-quality diamonds were exported to associate units abroad to keep up the appearances

PNB closed all options to recover dues by going public: Nirav Modi

In a letter Modi wrote on Feb 15/16 to the PNB management, he pegged the amount his companies owes to the bank under Rs 50 bn