Page 11 - Nirav Modi Scam At Pnb

RBI did not do proper auditing during period of PNB loan fraud: CVC

The RBI had the regulatory responsibility for the banking sector but any lack of integrity would be looked at by the Central Vigilance Commission

Don't believe rumours, your money is safe with us: PNB to customers

has come out with a detailed set of FAQs to address concerns of customers in the wake of the recent fraud

PNB scam: CBI questions officials of BoI, Axis and Allahabad Bank

Modi's firms allegedly defrauded PNB of over Rs 60 billion, while Choksi's firms over Rs 70 billion

PNB worried Nirav Modi won't pay up, chasing the bucks in US now

PNB is not shown as a creditor in the bankruptcy documents filed in a court in New York by three companies affiliated with Nirav Modi

The buck stops here

Instead of wholesale privatisation, consolidation of public sector banks is a better safeguard against PNB-like scams

Frauds cost Rs 181.7 bn to banking sector in FY17, says IiAS report

The report comes amid a string of banking frauds recently, including the Rs 14-billion PNB scam involving billionaire jeweller Nirav Modi and his uncle Mehul Choksi

PNB scam: ED seeks Interpol's help to locate Nirav Modi and his kin

The CBI in February also approached the Interpol with a request of issuing a Diffusion Notice against Modi to locate him

PNB fraud: ED arrests Nirav Modi's Firestar Diamond VP S S Wadhwa

ED seized valuables worth over Rs 360 mn belong to Modi and also carried out joint searches with the Central Bureau of Investigation

Fake LoUs: PNB agrees to honour Rs 65 bn of other banks' pending claims

The decision came after the finance ministry's meeting on Tuesday with a few bankers, including those from Punjab National Bank, to break the stalemate between banks

RBI audit on Punjab National Bank found no lapse in three years, says govt

The Union government has questioned the role of the RBI on various occasions for failing to detect the PNB scam

Banking scam fallout: RBI may let PNB spread fraud losses over 1 year

Lender staring at losses on account of scam worth Rs 145 billion in 2017-18

How the loan was issued to Nirav Modi? PNB denies 'info' to RTI activist

The bank has denied disclosing any information regarding minutes of the meeting, total loans sought by Nirav Modi by citing 8(1)(H) of RTI Act

Independence depends on your actions: CEA Subramanian's jibe at Urjit Patel

Earlier, the RBI Governor had lashed out at the government at a public forum for not giving the central bank adequate powers to prevent scams like the one involving Nirav Modi at PNB

PNB plans vertical to recover stressed assets amid growing NPA problem

The move being initiated on a pilot basis is a first for state-run banks, said a PNB source

In 5 days, PNB may be first bank to get 'defaulter' tag due to Nirav Modi

The tainted lender needs to repay Union Bank of India Rs 10 billion by March 31; if it can't, UBI may be forced to classify it as an NPA

PNB scam: MCA mulls legal ways to stall bankruptcy proceedings in US

Firestar Diamond that filed for bankruptcy in a US court is a subsidiary of one of the companies against whom the NCLT has passed the order

PNB plans to stake claim in bankruptcy proceedings of Nirav Modi's Firestar

The bank is exploring all options for the recovery, including participating in the bankruptcy proceeding of Firestar Diamond Inc

PNB scam: ED, CBI raid Nirav Modi's Mumbai home, seize Rs 250-mn properties

It seized Nirav Modi's antique jewellery, high-end watches, painting by M F Hussain, diamond ring

What 900 mn? Modi-Choksi firms deposited Rs 100,000 before note ban: Govt

Group of companies belonging to Nirav Modi and Mehul Choksideposited Rs 100,000 in their bank accounts with Punjab National Bank hoursbefore the Union government announced demonetisation in November 2016, Ministerof State Finance Ministry Shiv Pratap Shukla said in Lok Sabha on Friday.The Union government was responding to allegations of NationalistCongress Party MP Majeed Memon who had said last week that both the companieshad deposited Rs 900 million at one of the branches of PNB."So far as the allegation is concerned, PNB has stated thatit has checked all the accounts in the name of both the accused groups, andfound that, on the date of announcement of demonetisation (i.e. 8.11.2016), asum not exceeding Rs 100,000 was deposited in cash in these group accounts,"Shukla said in a written reply in LS."A report reveals that Nirav Modi deposited huge cash amountin one PNB branch on 8 Nov, hours before PM announced demonitisation. What does it suggest?" Majeed had said.Prime Minister ...

After Nirav, Choksi's firms, SFIO probes Fortis, Religare for alleged fraud

In the last four financial years, the corporate affairs ministry has ordered investigations through SFIO into the affairs of 575 companies on account of alleged frauds