Page 816 - Finance News

PNB fraud probe drove Nirav Modi's jeweler to US bankruptcy filing

Punjab National Bank shares plunge most since 2004 in Mumbai

Clipping wings? Banks to collect big borrowers' passport details in 45 days

Passport details will help banks to take timely action and inform the relevant authorities to prevent fraudsters from fleeing the country

PNB scam: Gitanjali Group's VP held, SFIO calls top bankers; 10 highlights

ICICI Bank Managing Director and Chief Executive Chanda Kochhar and her Axis Bank counterpart Shikha Sharma have been summoned by the SFIO in connection with the scam at PNB

Weakness in banking stocks is weighing on overall market performance

the asset quality problem and tighter Reserve Bank of India norms around bad loan disclosure would lead to drop in earnings at banks in the coming quarters

PNB scam: SFIO summons senior officials of ICICI Bank, Axis Bank

The officials were in the office for over two hours and are understood to have been asked about their business with firms like Choksi's Gitanjali Gems and also Modi

The reason why extent of fraud unravelling at PNB could rise beyond $2 bn

Investigators had not yet recovered all the papers and loan guarantees allegedly issued by rogue employees of the bank

PNB scam: PMO apprised of action taken against fraud on Mar 1, says FinMin

Jaitley expressed hope that going forward the bank's market capitalisation would improve

PNB fraud: SFIO to quiz ICICI's Chanda Kochhar, Axis Bank's Shikha Sharma

ICICI Bank is believed to have extended a loan of Rs 10 billion and Axis Bank Rs 7 billion last year to Mehul Choksi's Gitanjali Gems

Rs 127-billion fraud fallout: Foreign banks stop selling gold to PNB

In recent months, PNB has emerged as one of the largest gold importing banks, where it earned a margin of 1-2 per cent

PNB scam: Violation of norms going on since 2010, says CBI

Nair had signed various applications to avail the LoU facility, and he was also a director at 19 other companies of Mehul Choksi, the CBI lawyer said

PNB fraud: CBI grills general manager, gets remand of four accused

Two of the four arrested accused are from Nirav Modi's firm, one is an auditor and one an employee of the Gitanjali Group

RBI imposes penalty of Rs 30 mn on Axis Bank and Rs 20 mn on IOB

Axis attracted fine for flouting NPA norms and Indian Overseas Bank for KYC breach

PNB fraud going on since 2010, CBI tells court: Top 10 developments

CBI arrested four officials of Nirav Modi, Mehul Choksi's companies. on Monday Vipul Ambani and five others were sent to 14-day judicial custody

Finance ministry sets up 8-member committee on fintech for easier norms

The Committee will also focus on how Fintech can be leveraged to enhance financial inclusion of MSMEs

IndusInd Bank invokes 60 million pledged shares of Jaypee Infratech

Jaiprakash Associates had 895 million shares, about 64.44 per cent stake, in Jaypee Infratech as on December 31, 2017

HDFC raises Rs 18.94 billion via share sale to global investors

The board has approved and declared closure of the qualified institutional placement (QIP) issue today, HDFC said in a filing to stock exchanges

RBI to infuse Rs 1 trn into banking system via special auctions in March

Higher tax outgo will fuel cash demand by banks, corporate sectors

Clearwater Capital is investing more than China in Indian distressed debt

We have probably allocated more capital recently in India relative to China, said Robert Petty, a co-founder at the Hong Kong-based fund

Three directors of Allahabad Bank step down on cessation of terms

The bank will soon call and extra ordinary general meeting for appointment of new directors

RBI slaps penalty of Rs 30 mn on Axis, Rs 20 mn on Indian Overseas Bank

RBI said it had carried out a statutory inspection of private sector player Axis Bank with reference to its financial position as on March 31, 2016