Page 824 - Finance News

Rs 114-bn fraud: Submit concrete plan to pay dues, PNB tells Nirav Modi

Lender responds days after accused billionaire wrote to banks

Federal Bank to acquire 26% strategic stake in Equirus Capital

The deal is subject to statutory and regulatory approvals and satisfactory completion of financial and legal due diligence

After PNB scam, Mehul Choksi defaulted on Rs 1.21 billion to J&K Bank

ED searched Gitanjali Gems showroom in Udhampur district of Jammu last week and seized gold jewellery and diamonds worth Rs 25 million

Goldman cuts price targets for public sector banks

A $2 billion fraud at the bank that surfaced days after India's largest lender posted a surprise loss has led to sharp declines in the National Stock Exchange's gauge of state-run bank stocks

PNB scam: Firestar's Vipul Ambani created disproportionate assets, says CBI

Central agency finds CFO of Nirav Modi's firm complicit in defrauding PNB

Exposure of $0.28 mn against one LoU issued by PNB to gems clients: BoB

Bank of Baroda has some direct exposure to the gems and jewellery sector customers under consortium arrangement

Data breach hits 10,000 PNB credit, debit card customers, says report

PNB's Chief Information Security Officer has confirmed it was working with the govt to contain the fallout from the release of the data

Sent notice to email id shared by Nirav Modi, says MEA; top 10 developments

The ED has frozen mutual funds and shares worth Rs 945.2 mn of the Nirav Modi and Mehul Choksi groups of companies

MPC minutes: RBI may have lost its only dove as talk of rate hike swirls

MPC member Patra voted for rate hike due to inflation outlook

Nirav Modi's PNB fraud started in 2008: Arrested bank officials tell CBI

The arrested PNB officials said they merely continued with the practice that started in 2008

Come up with an implementable plan to repay dues: PNB to Nirav Modi

Nirav Modi in his letter to the PNB had said that the over-zealousness of the bank to deal with the issue destroyed his jewellery brand

Scam-hit PNB banks heavily on Bhushan Steel sale for capital boost

Plans to claw back provisions on debt-ridden Bhushan Steel

PNB hits back at Nirav Modi: Filed complaint as your LoUs were illegal

The bank said at no stage were such facilities extended by Punjab National Bank to the three partner firms

No more clerks please: Only PNB officers can now initiate messages on SWIFT

Several new limits have been placed on the amount that officers can generate depending on their seniority in the bank hierarchy.

Rs 114-billion PNB scam: Govt weighs bank's recapitalisation hike

Lender may also be put under RBI's prompt corrective action framework

MPC minutes: Govt bonds, rupee slump on RBI's increased inflation concerns

India's benchmark 10-year bond yield rose as much as 11 bps in early trade to 7.82 percent

Rotomac scam: Allahabad Bank's Rs 5.16-bn exposure classified as NPA

Allahabad Bank said in a filing that the accounts of Rotomac group classified as non-performing assets according to IRAC norms of RBI and the required provision has been made

PNB scam: DGFT to examine violations by Nirav Modi, Mehul Choksi firms

The DGFT grants an advanced licence to companies for availing of benefits under duty exemption schemes

MPC minutes: Six-member panel express discomfort over rising inflation

RBI members say inflationary risks to remain in near term: MPC minutes

Loans will be disbursed based on data, says Nandan Nilekani

Nilekani said the data available in the GST system could be the basis of credit.