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The banks’ increased rigor risks throttling one of the most vibrant parts of India’s economy - the micro, small and medium enterprises (MSME) sector.

India's small businesses find credit in short supply after mega-fraud

It is also a segment that contributes almost 38 per cent of India’s gross domestic product.

16 May 2018 2:30 PM

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 14,000 crore Nirav Modi fraud case, sources said.

Nirav Modi scam: PNB, Allahabad Bank to decide on further action

CBI filed charge sheet in May pointed involvement of top officials of banks.

22 Jul 2018 6:16 PM

Noisy protests continued amid speaker PJ Kurien's remarks that 'You are all agitated on separate issues. I know each subject is very important.' (Photo: File)

RS adjourned amid PNB scam uproar, Oppn demands Nirav Modi's return

RS was adjourned amid uproar over Rs 12,700-cr PNB scam and other issues including TDP demanding special package for AP.

05 Mar 2018 4:19 PM

RBI is also undertaking a detailed probe into the case for necessary action.

PNB scam: RBI declines to share copies of inspection reports

The scam, considered to be the biggest ever fraud in India's history, came to light earlier this year.

14 May 2018 9:24 AM

The agency had earlier registered a separate case involving Rs 280-crore fraud, which has now been expanded to cover LoUs worth Rs 6,498 crore issued to accused companies of Nirav Modi and Choksi. (Photo: File)

CBI registers fresh FIR against Mehul Choksi in PNB fraud case

The CBI has alleged that the new FIR pertains to 143 LOUs worth over Rs 4,886 crore fraudulently issued to three companies of Choksi.

17 Feb 2018 11:50 AM

The Enforcement Directorate also conducted searches at 38 other locations in several cities, including Mumbai, Pune, Aurangabad, Thane, Kolkata, Delhi, Jammu, Lucknow, Bengaluru and Surat. (Photo: File)

PNB fraud: ED raids Nirav Modi’s Mumbai residence, seizes valuables worth Rs 5,716 cr

ED is conducting raids across several cities after the PNB said it has been defrauded of Rs 11, 400 crore by diamond jeweller Nirav Modi.

19 Feb 2018 9:25 PM

PNB has also created a unit called ‘Treasury Division Mumbai’ for re-authorisation of most messages sent over SWIFT by branches.

PNB adopts strict SWIFT controls after mega fraud case

The new measures mean only PNB officers will be able to initiate messages on SWIFT.

22 Feb 2018 10:23 AM

Fraudulent LoUs of the state-owned PNB were used by diamantaire Nirav Modi and his associates to defraud the bank of about Rs 13,000 crore. (Photo: PTI)

PNB issued over 41,000 LoUs since 2011: Finance Ministry

Reserve Bank has stopped banks from issuing LoUs and Letters of Comfort for trade finance.

23 Mar 2018 10:49 AM

PNB Housing Finance is now more valuable than its parent company PNB which has seen its market capitalisation more than halve since being hit by a massive banking fraud.

PNB Housing Finance more valuable than its parent PNB

The market capitalisation of PNB Housing Finance stood at Rs 21,199.07 crore.

17 May 2018 1:45 PM

PNB has also relieved the two executive directors, Rao and Sharan, of their duties.

Top executives at fraud-hit PNB misled RBI, CBI alleges

RBI had repeatedly cautioned all banks, including PNB, and had sought details from the banks.

22 May 2018 9:10 AM

Shareholders at the annual general meeting of the PNB held here gave permission to offer, issue and allot up to 10 crore of equity shares.

PNB shareholders approve ESPS scheme; Rs 2,816 cr capital infusion by govt

Shareholders also voted to clear the issuance of over 31 cr shares to the govt as part of recapitalisation of PNB by Union govt.

18 Sep 2018 5:07 PM

Annual reports go for makeover; work on looks and content

The reports now come in vibrant and colourful avatars and are well-designed, shedding their jaded existence of the past.

19 Feb 2019 1:44 AM

Mehul Choksi accuses PNB of 'maliciously' creating case against him

Choksi had sought to correct the details of this KYC on several occasions but to no avail.

28 Mar 2019 9:48 AM

PNB seeks IRDAI forbearance for paring stake in Canara HSBC OBC Life. (DC Photo)

IRDAI gives nod to PNB for stake in two life insurance ventures

PNB is a promoter of PNB Metlife Insurance with the highest stake of 30 per cent since 2012

12 Apr 2020 3:53 PM

Antigua: Indian agencies gave Mehul Choksi ‘all-clear’

According to reports, Choksi fled India on January 4 this year and took oath of allegiance in Antigua on January 15.

04 Aug 2018 1:50 AM

Fugitive diamond merchant Nirav Modi was arrested in London on Tuesday. (Photo: File)

PNB scam exposes gaps in Indian banking sector

Rs 14,000 crore, fraud nearly brought India’s second biggest state-run bank on its knees.

22 Mar 2019 1:06 PM

Finance Minister Arun Jaitley (Photo: PTI)

Finance Ministry to meet bankers on fraud

Banks said to be directly or indirectly affected by the scam include SBI, Allahabad Bank and Union Bank of India.

22 Feb 2018 7:12 AM

Last month, Firestar Diamond, a company owned by Nirav Modi filed for bankruptcy in a New York court. (Photo: PTI)

PNB plans stake claim in insolvency proceedings of Nirav Modi companies

Following the scam, the Reserve Bank has stopped banks from issuing LoUs and Letters of Comfort for trade finance.

25 Mar 2018 11:24 AM

Congress leader Abhishek Manu Singhvi said, 'NDA cheap sense of politics has reached ludicrous and ridiculous proportions.' (Photo: File | PTI)

Abishek Singhvi threatens Sitharaman with legal action, denies blame

Singhvi said, 'Neither My wife, sons nor me have anything whatsoever to do with Gitanjali or Nirav Modi companies.'

17 Feb 2018 6:39 PM

PNB officers arrested by the CBI on Monday included Bechhu Tiwari, chief manager incharge of forex department, Yashwant Joshi, manager of forex department, and Praful Sawant, officer export.

CBI arrests three more Punjab National Bank men for fraud

The probe agency suspects that the three were aware of the fraud but did not take measures to stop it.

20 Feb 2018 2:05 AM

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Bhopinder Singh