Page 826 - Finance News

First big arrest in PNB fraud: Vipul Ambani, four others held by CBI

Ambani was arrested along with executive assistant Kavita Mankikar and Senior Executive Arjun Patil in connection with the first FIR registered by the agency

Relook risk management: Letter to BS on Rs 114-billion PNB scam

The recent fraud in PNB, and it is suspected that its contagion will affect several other Indian banks, is a classic example of operational risk faced by banks

Who is being protected in PNB fraud case: Letter to BS

Why are only low-level officers being questioned: Business Standard reader questions

CBI questions 10 PNB officials, 18 employees of Nirav Modi, Gitanjali group

A Central Bureau of Investigation (CBI) team also conducted raids at diamantaire Nirav Modi's Alibaug farmhouse near Mumbai

Jaitley breaks silence on PNB fraud, says India will chase down cheaters

He blamed auditors for being unable to detect irregularities

HDFC disburses Rs 28-bn loans to 14k home buyers under urban housing scheme

The Modi government had launched the housing for all by 2022 in June 2015 and the disbursement is from that period

Nirav Modi PNB fraud: How bank auditors failed to detect scam in 6 years

The problem here is that internal auditors are good at accounts, but they are not trained to track foreign exchange transactions

Nirav Modi scam: Moody's, Fitch warn fraud-hit PNB of rating downgrades

The Rs 114 billion fraud--the biggest in the country's banking history--has raised questions on both internal and external risk controls at PNB

Moody's places PNB under review for downgrade after Nirav Modi's fraud

The scam came out into the open on 14 February 2018, when it informed the stock exchanges

Rotomac Pens fraud: How Vikram Kothari conned 7 banks; FIR details revealed

Rotomac allegedly cheated banks to the tune of Rs 36.95 billion; this comes just Nirav Modi PNB fraud worth Rs 114 billion

Little exposure to Gitanjali Gems, none to Nirav Modi: IndusInd Bank

Shares of the bank were trading 1 per cent higher at Rs 1,648.35 on BSE in morning trade

PNB scam: Fitch places bank's rating under watch with negative implications

The move could lead to a possible downgrade for Punjab National Bank, India's second-largest public-sector bank

PNB fraud: No jail for Nirav Modi? Lawyer says case will collapse like 2G

Lawyer Vijay Aggarwal said that probe agencies will not be able to prove charges against Nirav Modi in the court of law

Nirav Modi scam at PNB: CBI arrests 3 more, ED to question five banks

The Enforcement Directorate suspects money laundering by Nirav Modi, will verify checks and balances

Rs 114-bn PNB scam: Auditor Deloitte seeks answers from Nirav Modi company

The auditor to Modi's Firestar International, Deloitte signed off the accounts for financial years ended March 2016 and March 2017

PSB stocks continue to reel after PNB fraud case; drop as much as 10%

Investors continue to dump state-owned banks; Fraud weighs on overall markets as Nifty erases all 2018 gains

How $2 mn-City Union cyber theft is similar to $81 mn Bangladesh bank heist

Hackers disabled City printer connected to global payments platform SWIFT, preventing bank from receiving messages for three fraudulent payment instruction

PNB solely liable for fraud: Affected public sector banks tell govt

PSBs say will resolve payments issue bilaterally

Bankruptcy rules for individuals may be delayed due to workload of DRTs

The government planned to notify the bankruptcy provisions last year itself

Rs 114-bn PNB scam: Govt seeks RBI's view on lapses in banking system

In its letter, finance ministry has pointed to sections 35, 35A and 36 of the Banking Regulation Act, 1949, to highlight the powers and functions of the RBI as regulator