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nirav modi scam: pnb, allahabad bank may decide on action against eds, md




punjab national bank and allahabad bank may take a call on further action to be taken against two executive directors and the md chargesheeted in the rs 140 billion nirav modi fraud case, sources said. soon after central bureau of investigation (cbi) filed chargesheet in may pointed involvement of t...



pnb fraud started under upa, grew during nda: ex allahabad bank official




a former top bank official on friday said punjab national bank (pnb) fraud case started during united progressive alliance (upa) government and continued in the national democratic alliance (nda) government. talking to ani, former allahabad bank director dinesh dubey said, "i had sent a dissent note...



pnb fraud: bjp accuses congress of spreading lies about 'upa-era scam'




the bjp on saturday alleged that the multi-crore pnb scam involving billionaire jewellery designer nirav modi happened during the upa rule and the congress was spreading lies. the bjp fielded defence minister nirmala sitharaman to counter the congress charge that the scam took place in 2017 under th...



pnb fraud: no jail for nirav modi? lawyer says case will collapse like 2g




the lawyer of businessman and the main accused in the punjab national bank (pnb) scam nirav modi on tuesday said that case against his client will collapse just like 2g scam and the bofors matter. speaking to ani, vijay aggarwal said that probe agencies will not be able to prove charges against nira...



bjp hits back at congress on pnb fraud




the bjp on saturday claimed that the multi-crore pnb scam involving billionaire jewellery designer nirav modi happened during the upa rule and the congress was spreading lies.the bjp fielded defence minister nirmala sitharaman to counter the congress charge that the scam took place in 2017 under the...



allahabad bank divests its ceo usha ananthasubramanian of all powers




the board of state-owned allahabad bank today divested its md and ceo usha ananthasubramanian of all powers with immediate effect, following a directive from the finance ministry after she was named in the cbi's chargesheet in pnb fraud case. ananthasubramanian, was the cmd of punjab national bank t...



rahul gandhi targets pm modi over new bank fraud




as yet another bank fraud came to light, congress president rahul gandhi on saturday hit out at the modi government alleging that the delhi-based diamond jeweller involved in the scam “disappeared” like nirav modi and vijay mallya while the government looked the other way. he said the promoter o...



pnb scam: bankers huddle to reconcile lou claims and decide on liabilities




bankers on saturday went into a huddle to reconcile claims after the letters of undertaking (lous) scam hit punjab national bank (pnb). pnb has put the value of outstanding claims in the fraud involving billionaire jeweller nirav modi at over rs 110 billion ($1.77 billion). bankers declined to speak...



pnb scam: nirav wants assets back; delhi hc says case sketchy; top updates




accused in the rs 127-billion punjab national bank (pnb) fraud, nirav modi might breathe easy as the delhi high court on wednesday called the case against the absconding diamantaire "sketchy". the court also issued a notice to the enforcement directorate (ed) on a plea filed by modi. the delhi high ...



pnb scam: govt intervenes in nirav modi firms' bankruptcy proceedings in us




the government has intervened in the bankruptcy proceedings of nirav modi firms in the us to protect the interests of punjab national bank (pnb), union minister p p chaudhary said, amid multi-pronged efforts to deal with the nearly rs 130 billion (rs 13,000 crore) scam. diamond merchants nirav modi ...



pnb fraud: allahabad bank board divests ceo of functional powers




a day after the government initiated removal of allahabad bank chief executive officer (ceo) usha ananthasubramanian following a cbi chargesheet in the nirav modi scam, the bank’s board on tuesday divested her of all her functional responsibilities. it also requested the government to make suitabl...



nirav modi scam: crisil puts punjab national bank's ratings under watch




rating agency crisil has put the scam-ridden punjab national bank's ratings on 'watch', following the rs 114 billion fraud detected by the lender at one of its mumbai branches. the fraudulent transactions were carried by the diamond jeweller nirav modi and his companies by acquiring fraudulent lette...



in 5 days, pnb may be first bank to get 'defaulter' tag due to nirav modi




the rs 127-billion pnb fraud may be responsible for the first time that a bank gets listed as a defaulter in india. as a result of the scam carried out by diamantaire nirav modi and his associates, punjab national bank (pnb) owes union bank of india rs 10 billion. if pnb fails to pay the amount with...



rs 114-billion pnb fraud: finmin to meet bankers to resolve payment issue




the finance ministry will soon call a meeting of top officials of scam-hit punjab national bank and other lenders to amicably resolve the issues concerning payment liabilities of rs 114 billion arising from the alleged fraud, sources said. india's second-largest bank pnb has said it will honour all ...



how did bjp manage to prevent adverse impact of pnb scam in northeast?




on february 14, 2018, the nirav modi scam hit the nation. india’s second largest state-controlled lender, punjab national bank, informed the bombay stock exchange that it had detected some “fraudulent and unauthorised transactions” pertaining to the letters of undertaking (lou) it had issued a...



pnb fraud: nirav modi blames bank's 'haste' for fiasco; top 10 developments




nirav modi knows who's to blame for the losses faced by public-sector lenders due to the rs 114-billion scam at punjab national bank (pnb). according to the absconding businessman, it's pnb and its "haste" that are to blame. modi reportedly wrote to banks, saying that the firms controlled by him wer...



pnb names nirav modi and gitanjali gems in the mega rs 114-bn fraud




in what may turn out to be one of the biggest scams in the country’s corporate history, delhi-based punjab national bank (pnb) said on wednesday it has been defrauded about rs 114 billion by jeweller nirav modi, his maternal uncle mehul chinubhai choksi and other relatives through a clutch of comp...



one more arrested in pnb scam




the cbi on wednesday arrested punjab national bank's internal chief auditor m k sharma in connection with the rs 12,717-crore bank fraud case involving diamantaire nirav modi.sharma, a chief manager-rank officer, is responsible for auditing systems and practices of pnb's brady house branch, the nerv...



news digest: pnb recap, nirav modi in dgft dock, modicare, and more




pnb 114 billion scam: govt weighs bank's recapitalisation hike the recapitalisation amount earmarked for punjab national bank (pnb) by the centre is set to increase with the unravelling of the rs 114 billion letters of undertaking (lous) scam. pnb’s performance metrics are also being reviewed to s...



banks need to revisit surveillance system to plug loopholes: ex-pnb chief




admitting that failure of linkage of swift to core banking system (cbs) could have led to rs 114 billion fraud at punjab national bank, the former head of the scam-hit lender on friday said there was an urgent need for banks to revisit their surveillance system and plug the loopholes. usha ananthasu...



recovering money: letter to bs on nirav modi's rs 114-bn scam at pnb




the last fortnight has been flush with reports about the nirav modi-mehul choksi duo allegedly swindled money from the punjab national bank (pnb). what is being reported is that letters of undertaking were procured by them from the bank by gaming the system with the connivance of a lower executive o...



first explain how money was taken away under your nose, rahul to modi




dismissing prime minister narendra modi's statement that strict action would be taken in the pnb fraud case, congress president rahul gandhi today asked him to first explain how the money was taken away from the bank under his government's rpt government's nose."a scam of rs 22,000 crore happens, ni...



pnb fraud: speak up, don't act like the guilty, rahul gandhi tells pm modi




in yet another attacking tweet, congress president rahul gandhi on sunday asked prime minister narendra modi to "speak up" on the multi-crore pnb fraud case that involved billionaire jeweller nirav modi. taking on to twitter, rahul said, "pm modi tells kids how to pass exams for two hours but won't ...



come up with implementable plan to repay dues: pnb to nirav modi




scam-hit punjab national bank (pnb) today asked billionaire diamond jeweller nirav modi to come up with a concrete and implementable plan to settle the loss caused to it by fraudulent issuance of letter of undertakings (lou) through one of its branches.pnb said this in its response to a mail written...



pnb worried nirav modi won't pay up, chasing the bucks in us now




punjab national bank is worried that it wouldn't be able to recover its dues from diamantaire nirav modi. in a us court filing, it has requested that nirav modi’s firestar diamond and other firms should not be allowed to fast-track the sale of their assets, according to areport by the livemint. pn...