Page 817 - Finance News

PNB fraud: No guarantee of better governance, privatise PSBs says Assocham

PNB said it had detected the gigantic fraud in one of its Mumbai branches, putting the quantum of fraudulent transactions at $1,771.69 million

PNB fraud: UCO Bank admits to having Rs 26.36-bn outstanding exposure

The PNB fraud pertains to issuance of fake Letters of Understanding to companies associated with billionaire jeweller Nirav Modi by errant PNB employees

PNB scam: Special court remands all 3 accused to CBI custody till March 3

CBI said accused were not cooperating with investigation so custody required 'to recover important missing documents'

Banks relied on India Ratings' A- outlook to lend to this Nirav Modi firm

This, despite Firestar International suffering from a high-leverage, off-balance-sheet exposure

PNB fraud: Whistleblower Hari Prasad deleted LinkedIn profile

Prasad's letter to the PMO was made public by the Congress

Accused ex-PNB deputy manager Gokulnath Shetty took only one promotion ever

A native Kannada speaker, Shetty grew up in Mangalore, but came to Mumbai for studies

Rahul Gandhi asks why PM Modi, Arun Jaitley are silent on PNB scam

Congress leader Singhvi issued statement claiming that his family company has no connections with Nirav Modi's firms, except that of renting them some property

PNB fraud: Privatise more PSBs, toughen rules, says Arvind Subramanian

CEA offers three compelling arguments in his case for privatisation of govt-owned banks

Banks may take a hit of at least Rs 176 bn from PNB scam: I-T Dept

But the total hit to Indian banks 'may well exceed' that amount, the I-T department said in its note

PNB scam: Bankers huddle to reconcile LoU claims and decide on liabilities

PNB put value of outstanding claims in fraud involving billionaire jeweller Nirav Modi at over Rs 110 bn

PNB officials met representatives of Nirav Modi, Gitanjali for dues payment

The branch officials requested the firms to furnish at least 100% cash margin for issuing LoU for raising buyer's credit

PNB fraud: Intesa Sanpaola SPA (HK) only foreign bank to be affected

FIR against the rest of Rs 113 billion raised by Nirav Modi companies through fraud on PNB is yet to be filed

Make Nirav Modi RBI Guv, who strived for BJP's financial prosperity: Sena

Just recently Nirav was seen and photographed with Prime Minister Narendra Modi in Davos: Sena mouthpiece

PNB scam: 2 bank officials, Nirav Modi's company executive arrested by CBI

People detained including PNB's former deputy manager Gokulnath Shetty, bank's single window operator Manoj Kharat, and Hemant Bhat, who is authorised signatory of the Nirav Modi group firms

PNB scam: Banks relied on Ind-Ra's rating of Nirav Modi firm to lend money

In March 2017, Ind-Ra said it had rated the company's debt instruments at 'IND A-' with a stable outlook

PNB fraud: Know Nirav Modi - the billionaire jeweller who scammed banks

The billionaire jeweller to the world's rich and famous was doing well for himself. Nirav Modi's troubles, however, grew along with his blinding success

PNB Rs 114-bn fraud: How Nirav Modi was brought down by his staff

The saga unfolded after a bribery complaint by the Hong Kong branch of an Indian bank

Rs 114-bn fraud: ED takes action against Nirav Modi's overseas operations

The ED has sent out letters of request, called 'letters rogatory', with a clutch of evidence to the concerned enforcement agencies asking for sealing of outlets

PNB fraud began under UPA, says BJP; Cong asks PM to break 'vow of silence'

Surjewala said that not just the PNB, the fraud covers 16 other banks

Rs 114-billion fraud: Other banks did not raise an alarm, says PNB

The PNB also named the banks in the complaint, which included the Frankfurt and Mauritius branches of the State Bank of India