Page 20 - Nirav Modi Scam At Pnb

Rs 114-bn PNB fraud gets bigger: Bank says total dues can be Rs 13 bn more

Punjab National Bank detected the fraud wherein Nirav Modi and associates allegedly acquired fraudulent letters of undertaking

PNB hits 20-month low on discovery of additional unauthorized transactions

The stock slipped 9% to Rs 102 on the BSE in intra-day trade, its lowest level since June 24, 2016.

PNB tightens staff transfer policy to ensure irregularities do not recur

Recap not discussed, PNB may approach govt for additional funds

SBI Chairman Rajnish Kumar expects PNB to clear Rs 13 billion dues

He said the exposure of SBI to Gitanjali Gems - one of the companies involved in the scam - has also been crystallised and there was no issue on that

PNB fraud case: Key Nirav Modi papers seized from law firm

The CBI, however, clarified that it was not examining the law firm

PNB fraud: Asset-backed securities not affected by scam, says Fitch Ratings

Asset-backed securities are bonds or notes backed by financial assets

PNB scam: Govt fast-tracks bill to seize assets of defaulters fleeing India

Currently, confiscation can be done through multiple laws but it is a complicated process

Post PNB fraud, bank unions call off March 15 strike

The union said: 'Instead of a full-scale investigation, attempts are being made to single out a few lower level employees'

Message from market to PNB, other PSBs: Bring in new credible leadership

We will support if the govt brings in credible leadership, changes the incentive structure, and fortifies the board, says markets

The enemy within: Financial firms must be vigilant about employee fidelity

The annual Kroll Fraud and Risk Report says that junior employees were the second most common perpetrators of frauds, just behind joint-venture partners

PNB scam: CBI writes to five banks, seeks details of Nostro transactions

The Nostro account refers to an account that a bank holds in a foreign currency in another bank overseas to enable foreign trade by its clients

Amid rising NPAs and PNB fraud, PSU banks face credibility crisis

Will the public sector banks have enough capital to push growth in the light of recent incidents?

ED seeks Letters Rogatory to probe Nirav Modi's overseas business, assets

Letters Rogatory are a request from a court of a sovereign nation to a court of another sovereign nation

Fraud-hit PNB assures investors of early recovery, as probe widens

PNB has $120 billion in total assets, saw its shares fall for a third straight day on Friday

PNB fraud: Nirav Modi may face non-bailable warrant; top 10 developments

As part of its probe in the PNB fraud case, ED will send judicial requests to over a dozen countries for obtaining information about the overseas businesses and assets of Nirav Modi and Mehul Choksi

PNB scam fallout: Govt is revisiting plans of a bank-holding company

Such a company will hold the Centre's entire stake in PSBs and raise capital for them

Address ownership issue: Functioning of PSBs seeks urgent corrective action

Public friction between the government and the central bank does not help

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

PNB fraud, global cues spur Rs 100 billion FPI sell-off in February

eojit Financial Services Research head Vinod Nair said weak domestic cues impacted investor sentiment