Page 822 - Finance News

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

After PNB and Rotomac, CBI exposes three fresh cases of financial frauds

The Bank of Maharashtra has approached the CBI to lodge a loan default complaint against Amit Singla

PNB fraud: Justice I deserve is far off, says Mehul Choksi to jobless staff

Mehul Choksi wrote to 3,500 employees, saying it would be 'very tough' to clear dues of his employees or pay future salaries

PNB scam: ED attaches 21 properties worth Rs 5.23 bn of Nirav Modi group

Nirav Modi, Mehul Choksi, others are being investigated by ED and other probe agencies after Rs 114 bn-fraud came to light

PNB fraud redux? Bank of Maharashtra knocks CBI's door in loan default case

Delhi-based businessman Amit Singla dishonestly induced bank for getting loan on false representation by forging documents

PNB fraud 'scar' on economy: Jaitley slams regulators, hints at new norms

At ET Global Business Summit, Arun Jaitley said that unlike politicians, regulators in the Indian system are unaccountable

After PNB, Rs 3.9-bn Oriental Bank of Commerce scam hits banking sector

The lender alleged that Dwarka Das Seth International cheated the bank using Letters of Credit

RBI announces ombudsman scheme to address complaints against NBFCs

If the NBFC rejects the complaint or does not respond within a month, the customer can approach the Ombudsman

PNB scam: Won't tolerate irregularities in financial sector, says PM Modi

I want to appeal to those who have been given the task of framing rules and maintaining ethics in financial institutions to perform their duty with full faith, said Modi