Page 22 - Nirav Modi Scam At Pnb

PNB fraud 'scar' on economy: Jaitley slams regulators, hints at new norms

At ET Global Business Summit, Arun Jaitley said that unlike politicians, regulators in the Indian system are unaccountable

After PNB, Rs 3.9-bn Oriental Bank of Commerce scam hits banking sector

The lender alleged that Dwarka Das Seth International cheated the bank using Letters of Credit

RBI announces ombudsman scheme to address complaints against NBFCs

If the NBFC rejects the complaint or does not respond within a month, the customer can approach the Ombudsman

PNB scam: Won't tolerate irregularities in financial sector, says PM Modi

I want to appeal to those who have been given the task of framing rules and maintaining ethics in financial institutions to perform their duty with full faith, said Modi

PNB fraud: Global accounting firms under lens

The court said the Centre could consider steps for effective enforcement of the provisions of the Foreign Direct Investment (FDI) policy

Rs 114-bn PNB fraud adds to Rupee's woes as banks may tighten trade credit

The rupee is set for its worst week since September as traders cite enhanced demand for dollars in spot and forwards market

Gitanjali Gems was a partner for Vibrant Gujarat Summit 2017: Congress

New Delhi, 23 FebruaryThe Congress party on Friday alleged the bank fraud involving jewellers Nirav Modi and Mehul Choksi not only siphoned Rs 213 billion from public sector banks, but also cheated India's middle class of Rs 50 billion.Gujarat Congress leader and national spokesperson Shaktisinh Gohil said Mehul Choksi owned Gitanjali Gems Limited had floated three jewellery investment schemes - Shagun, Swarna Mangal Labh (SML) and Swarna Mangal Kalash (SMK).He said under these schemes people seeking to buy jewellery were given an attractive option to earn a return on investment. People needed to pay 11 installments, while the Gitanjali Group promised to pay the 12th as free. Tenures of these installments ranged from 12, 24, or 36 months. At the end of this tenure, the accumulated money could be redeemed for jewellery with additional bonus of up to 50 per cent, Gohil said."But people were duped in these schemes. In large number of cases, neither the installment was paid nor jewellery .

PNB fraud: 1,200 Hyderabad Gems SEZ workers lose jobs

The livelihoods of these workers - 700 of them differently-abled and mostly women - was disrupted last week

Rs 114-bn scam: PNB says will not appoint PwC India as forensic auditor

The second largest public sector bank found itself in a fix after PwC emerged lowest bidder for the audit

Scam-hit PNB can sell 13% in PNB Housing Finance by Nov 2019

PNB Housing Finance was promoted by PNB

PNB scam: Govt moves NCLT to freeze assets of Nirav Modi, Choksi firms

The government may take the Satyam fraud route in Gitanjali case as well

PNB fraud: Priyanka Chopra ends contract with Nirav Modi

The move comes after billionaire jeweller Nirav Modi found himself in the centre of a controversy pertaining to financial fraud and irregularities

Banks need to revisit surveillance system to plug loopholes: Ex-PNB chief

The fraud allegedly started in 2011 at PNB

Rs 114-bn PNB scam: Sin or crime?

We might not have been seeking out baubles, but there's nothing Modi liked more than surprising you with them

Scams: From reel to real

While investigation in the matter is still on, the bank has thus far pinned the blame on the particular branch that was involved in the collusion

PM Narendra Modi promises strict action against PNB fraud accused

Modi made it clear that the government would take strict action against irregularities in financial matters

RBI Governor should take responsibility and quit after PNB scam: AIBEA secy

According to AIBEA General Secretary, RBI failed to monitor the massive scam/fraud

Didn't consider PwC for forensic audit post fraud due to Sebi order: PNB

The bank also denied reports that details of debit and credit cards of its thousands of customers have been leaked

Govt is taking strong action against financial irregularities: PM Modi

"System will not tolerate loot of public money," PM Modi

Virat Kohli still our brand ambassador; haven't engaged PwC for probe: PNB

No restrictions on the withdrawals have been imposed by the bank, said PNB