Page 12 - Nirav Modi Scam At Pnb

PNB scam: Why do we not talk about the whopping bank loan defaults?

It's high time CFOs pull their socks and perform fearlessly

Reserve Bank's LoU ban not to impact West Bengal jewellery industry

Ravi Karel said margin sought was 85% of the credit, but now they were seeking a margin as high as 150%

PNB issued over 41,000 LoUs since 2011; 1,590 of them to Nirav: FinMin

Following the scam, the Reserve Bank has stopped banks from issuing LoUs and Letters of Comfort for trade finance

Nirav Modi scam: Diamond traders now courting firms with long-term credit

Since most banks have tightened lending to diamond merchants and others are about to do so, many medium and small diamond dealers are approaching large players for credit facility within the industry

PNB scam: Interpol seeks additional information on Nirav Modi, Mehul Choksi

A Red Corner Notice (RCN) is issued to seek the location and arrest of wanted persons for extradition or similar lawful action in a criminal case probe

PNB suffers Rs 145 bn loss due to fraud in FY18 so far: Govt

PNB has stated that it has adequate assets or capital to meet any liability which may crystallise on the bank

PNB starts Mission Parivartan to curb repeat of another Nirav Modi scam

A new monitoring group will be set up to keep track of whether cash flow from projects is being used to repay bank loans and that there are no slippages, sources said

Honoured all Letters of Undertaking during 2011-16: PNB to Finance Ministry

The bank also issued 234 LoUs worth Rs 18.8 bn to another group of companies promoted by Mehul Choksi in 2015 and 2016

PNB blames concurrent auditor for not flagging off SWIFT transactions

Reconciliation of SWIFT messages with trade module of the core banking system was not followed and the concurrent auditor did not point out this irregularity, the lender said

PNB woes spur Goldman to downgrade India's economic growth forecasts

The Goldman warning is a blow for the govt, which had hoped that a $32 billion, two-year, bank recapitalisation programme it unveiled last year would help Indian banks to begin to restart lending

Hit hard by Nirav Modi fraud, PNB embarks on 'Mission Parivartan' drive

As part of the participative approach, the bank has created 'Lead the Parivartan' portal to engage all in the transformation process

Rs 127 bn PNB scam: I fear for my safety, Mehul Choksi tells CBI in letter

'I am extremely held up in my business abroad and am working hard to resolves the issues,' the Geetanjali Gems owner added

Rs 127-bn PNB scam and NPA crisis are contributing to banking paralysis

The authorities concerned cannot possibly be unaware of the consequences of their actions

How $2 bn PNB scam punched holes in PM Modi's anti-corruption image

While investigations continue into India's biggest-ever bank fraud, the by-election results show the BJP's reputation is on the line

PNB scam: ED seizes Nirav Modi's Ahmednagar solar plant, 134 acres of land

The ED had earlier provisionally attached 21 immovable properties worth Rs 5.24 billion, belonging to diamantiare Nirav Modi and companies controlled by him

Rs 129-billion scam fallout: RBI to resolve impasse over PNB liabilities

Finance ministry officials said the central government was not authorised to examine loan accounts above Rs 50 million and hence could not resolve the disputes among banks

Public sector banks: Buck passing between RBI and Ministry of Finance

The main beneficiary of the RBI's contempt of the court's decision on RTI is PSBs, over which the RBI claims to have no control!

PNB fraud: CBI court sends 11 accused to judicial custody till March 28

Modi's firms allegedly defrauded the PNB of over Rs 65 billion, while Choksi's firms Rs 70.8 billion

Farmers protest: Banks give crores to Nirav Modi, what about us? updates

Nirav Modi had acquired land of the farmers by conning them

PNB-Nirav Modi scam: Diamond traders move business to organised players

Larger players are also slipping into the role vacated by banks, by offering credit to smaller traders