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PNB BANK FRAUD
London court orders Nirav Modi to pay Bank of India Rs 100 croreA London High Court has ordered fugitive diamantaire Nirav Modi to pay Bank of India over $10.7 million (approximately Rs 100 crore). The j...- South Indian Bank raises FCNR deposit rate to 6.5 pc after RBI swap windowSouth Indian Bank has boosted interest rates on US dollar deposits for Non-Resident Indians to 6.5% per annum for 3-5 year tenures. This mo...
- CBI conducts searches in Kolkata in PNB fraud casesThe Central Bureau of Investigation (CBI) has conducted searches on Wednesday, at 8 locations in Kolkata, West Bengal, in connection with t...
- CBI raids 8 locations in Bengal in bank fraud casesThe Central Bureau of Investigation (CBI) has launched extensive operations throughout West Bengal, targeting bank fraud involving a stagge...
- CBI finds no evidence of corruption in case involving Nirav Modi; transferred to magistrateA special CBI court in Mumbai transferred a fraud case against Nirav Modi to a magistrate's court. The CBI stated that corruption charges a...
- The safe keepers: Inside India's booming locker economyIndia’s locker economy is booming amid rising gold prices and household wealth. While banks remain the preferred repository, private vault ...
- Stocks in news: HCL Tech, Vedanta, Jio Financial, IndusInd Bank, Suzlon EnergyMarkets are cautious as a ceasefire nears expiry. Oil prices rose, and the rupee weakened, sparking inflation worries. Investors are watchi...
- Refund of fraud transactions: Railway police constable wins case against PNB after 10 years; what to do in such cases?Punjab National Bank: What happened was an constable with Railway Protection Force (RPF) became a victim of electronic fraud in 2013 and Rs...
- Anil Ambani firm a 'fraud' in PNB booksUpon declaring an account as fraud, banks are required to make provisions for 100 per cent of the outstanding loan amount, as per Reserve B...
- Forensic audit of Reliance Home Finance proved there was diversion of funds: PNB source“The account was declared fraud based on the forensic audit. At a time when capital is so scarce, why should I declare an account fraud for...
- Former MD of PNB was aware of Nirav Modi fraud, says CBIThe agency alleged that Usha Ananthasubramanian, then MD and CEO of PNB, was aware of the fraudulent dealings and deliberately misled the R...
- SBI freezes accounts of 3 Nirav Modi group companiesThe bank found out these accounts after internal scrutiny, the officials said, adding these accounts are not directly related to the PNB fr...
- I'm too busy with my business: Nirav Modi's reply to a CBI summons on PNB scamModi has been accused of defrauding the Punjab National Bank of Rs 12,600 crore, with Rs 1,300 crore being added to the fraud kitty two day...
- 86 per cent of bank frauds tied to loans, 99 per cent in case of PNBFrom misuse of letters of credit, guarantee or undertakings to diversion and siphoning of funds, a variety of frauds linked to advances hau...
- PNB needs to sell assets to meet funding needs: GovernmentIn a communication to employees, the PNB management has said that the state-run players enjoy “strong sovereign backing”, which was visible...
- PNB Fraud: Officials of other banks under scannerOfficials of Hong Kong branches of Indian lenders including Allahabad Bank, State Bank of India (SBI), Union Bank, UCO Bank and Axis Bank a...
- IBA to approach RBI seeking clarity on PNB liabilityBank of India CEO D Mohapatra, ICICI executive director NS Kannan, Allahabad Bank CEO Usha Ananathasubramanian and IBA CEO VG Kannan were a...
- RBI denies asking PNB to meet LoU commitments to other banks“The fraud in PNB is a case of operational risk arising on account of delinquent behaviour by one or more employees of the bank and failure...
- Moneyback Plan: RBI directs Punjab National Bank to honour LoU claims“RBI has made its stand very clear that PNB is liable to pay dues to peer banks,” said one of the bankers present at the meeting where the ...
- PNB has to pay Rs 11,300 cr to counterparty lenders: RBIBy paying the other lenders, only the balance sheet of PNB will suffer in terms of losses while the other banks will not have to make provi...
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