Page 818 - Finance News

Loan defaults: Sebi plans to push for disclosures by listed firms in a day

One view is to keep this 'threshold' as low as Rs 50 million, though some want it higher at Rs 500 million

Mauritius promises strong action against any entities involved in PNB scam

PNB fraud being probed by multiple agencies in India, which are seeking details from their counterparts in various other countries

PSBs write off Rs 5.16-bn NPAs of 38 wilful defaulters in H1FY18

State Bank of India accounts for over 27 per cent of the total amount owed to public sector banks by wilful defaulters as of March 2017

Another bank fraud? Borrowers misuse SBI loan of Rs 32 mn to produce a film

The production house is represented by Kabaddi player Raja and he is among the 13 borrowers

PNB scam: Court issues non-bailable warrants against Nirav Modi, Choksi

The ED had earlier issued summonses to Modi and Choksi, both key accused in the scam cases

PNB chief Sunil Mehta admits the collusion of employees in LoUs scam

Agency questions MD at length on why the bank took so long to detect the fraud

Govt diluting RBI's power to select bank auditors: Financial professionals

They demanded the selection of bank central auditors and statutory branch auditors should be done under the control of the RBI

RBI rejects pleas from mobile wallet entities for less stringent KYC rules

Players say users, especially blue-collar and similar category workers, find rules too strict; however, central bank declines sector request

Govt asks IDBI Bank to rejig its senior management like other PSBs

Much of IDBI Bank's special status was stripped off a few years ago when govt said the rank of the IDBI MD and CEO would be same as those of other banks

South Africa says Bank of Baroda holds 'proceeds of crime involving Guptas'

The crackdown on the dairy farm project came just weeks after South African President Cyril Ramaphosa replaced Zuma as head of the ruling African National Congress

Your EMIs are set to rise! SBI, PNB and ICICI Bank increase lending rates

The cost of funds also fell from 6% to 5.42%. However, their NIM contracted by 26 bps to 2.45% in Dec '17

Nirav Modi case: CBI recovers LoU documents, arrests another PNB executive

Mishra was responsible for auditing the procedures and practices followed in the PNB branch and report them

Buyers express strong interest in Nirav Modi's 'bankrupt' Firestar Diamond

The Central Bureau of Investigation has so far arrested at least 13 people - seven from the bank and six more from Modi and Choksi's companies

PNB scam: Govt directs PSBs to consolidate their overseas operations

Foreign branches of Indian banks had advanced money to companies belonging to diamond traders Nirav Modi and Mehul Choksi

SBI freezes three overseas deposit accounts of Nirav Modi group companies

These accounts are not directly related to fraud, however, these could help in investigation so the bank shared the details with the CBI, the ED, the income tax department

Bank of Baroda objects to freezing of funds in South Africa

The court documents showed that other banks transferred cash to the same dairy farm but their money wasn't frozen

RBI creates separate Rs 50 bn limit for foreign investors in IRF segment

After the utilisation limit in government bonds reaches 90%, as is the current situation, FPIs are not allowed to take position in IRFs

RBI creates sub-targets for foreign banks to lend to farmers, MSMEs

Banks have been complaining against this mandate, but the creation of a sub-target is likely to put them off even more

PNB appoints Lingam Venkata Prabhakar as executive director for 3 years

He has been appointed for a period of three years with effect from the date of taking over charge of the post on or after March 1

PNB auditor conspired with Nirav Modi in perpetrating $2-bn fraud: CBI

Mohinder Kumar Sharma was the internal chief auditor at the Brady House branch