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NIRAV MODI SCAM
Indian diamond traders may get loans from Russian banks to buy diamonds from ALROSARussian banks have started granting loans to ALROSA's foreign clients for the purchase of rough diamonds. This will help the Indian diamond...- These six things drove Urjit Patel and government apartThe fire was lit with RBI deputy governor Viral Acharya's speech on October 26 defending the autonomy of the central bank.
- ICEX targets daily turnover of Rs 1,000 croreIn the last quarter of the current fiscal, our daily turnover will be Rs 300 crore.
- De Beers expects India’s diamond demand to pick upConsumer demand fell 2.5 per cent yearon-year in 2017.
- Punjab National Bank gets top rank in digital transaction as per Finmin reportThe Nirav Modi scam-hit bank is also rated as the sixth overall amongst all banks in India for digital performance, PNB said in a statement.
- Prices of smaller rough diamonds down 5% as India pares offtakeThere is a lot of confusion at the lower end of the market that deals with smaller diamonds.
- Federal Bank gets RBI nod to enter Bahrain, Kuwait, SingaporeThe Kochi-headquartered bank, which leads diaspora remittances, already has representative offices in Abu Dhabi and Dubai.
- PNB scam: Supreme Court dismisses plea seeking SIT probe against Nirav ModiThe PIL, filed by advocate M L Sharma, had alleged that no banks would release huge funds without the intervention of the political leaders...
- PNB finds 54 officials at fault in Nirav Modi scamFor instance, if PNB’s audit department had checked the SWIFT messages logs, a single activity would have nailed the whole act at the incip...
- Ministry of Corporate Affairs to step up probe into Nirav Modi, ICICI casesAfter an initial examination, the ministry has referred 19 companies to the Serious Fraud Investigation Office (SFIO) for further probe rel...
- Bank loans to jewellers grow surprisingly after PNB-Nirav Modi scamThe flow of bank loans to the gems and jewellery sector saw a surprising 5.7% rise between mid-January and March.
- Nirav Modi scam threatens to stymie borrowing firepower of jewellersModi’s company Firestar Diamond and another headed by his uncle Mehul Choksi, received about a quarter of the loans made to the nation’s ge...
- Public sector banking mess is here to stay. And this is whyOf the 21 PSBs, 11 are under the Prompt Corrective Action plan of RBI. After the Nirav Modi scam, five more banks are at risk of being incl...
- SBI to tighten gems & jewellery sector borrowing normsSBI has reviewed all loans given to jewellers in the wake of the Nirav Modi scam to find out whether adequate safeguards were taken while g...
- SBI tightens noose around borrowers in jewellery sectorThe decision was driven by the board which directed the management to plug the gaps in risk mitigation system, especially for borrowers in ...
- BJP has ample ammunition to take on opposition in parliamentLast December, a CBI special court had acquitted former telecom minister A Raja and DMK leader Kanimozhi in the 2G allocation case.
- Double whammy: Reeling under cash crunch after GST, exporters fear credit tightening post PNB scamFor India's export community, there has been a delay in grant of refunds pertaining to Integrated Goods and Services Tax (IGST) paid on goo...
- Will India’s diamond cutting operations shift to Israel, Belgium?India is the world’s largest cutting and polishing centre of rough diamonds, and it is said that 14 out of every 15 rough diamonds in the w...
- Nirav Modi scam: Crisil puts PNB ratings on the watchThe fraudulent transactions were carried by the diamond jeweller Nirav Modi and his companies by acquiring fraudulent (LoUs).
- Other banks need to own up, says PNB in a veiled threat"PNB appears to be avoiding taking the entire responsibility for the scam"
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