Pnb Scam | The Asian Age

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200 farmers ‘reclaim’ land from Nirav Modi

Alleging that Mr Modi had acquired their lands at less than the prevailing market rate.

18 Mar 2018 4:52 AM

Urjit: RBI bosses will drink poison to clean up system

Exemptions provided to PSBs make it hard for RBI to act against them.

15 Mar 2018 2:31 AM

Reserve Bank of India wrote to all banks a week ago asking for details of the LoUs they had written. (Photo: AFP)

RBI turns up heat on lenders after USD 2 billion loan fraud

RBI had asked banks to connect SWIFT interbank messaging system with their core banking software by April 30.

10 Mar 2018 10:38 AM

In monetary terms PNB was followed by Bank of India, which lost 27.7 billion rupees, and State Bank of India that lost 24.2 billion rupees.

Before mega scam, PNB lost USD 431 mn to fraud last fiscal year

Punjab National Bank alone reported 158 cases of fraud in 2016-17.

10 Mar 2018 10:24 AM

Union Bank figures are separate from USD 300 million exposure it had previously reported on account of fraudulent PNB guarantees. (Photo: PTI)

Union Bank says has USD 45 mn direct exposure to Nirav Modi, Gitanjali firms

Union Bank has direct credit exposure of about 1.2 billion rupees to companies controlled by jeweller Nirav Modi.

10 Mar 2018 10:14 AM

Before Nirav Modi, PNB incurred losses of over Rs 2,800 cr last fiscal yr

This makes PNB the biggest such loser among all state-owned banks even before it uncovered an alleged Rs. 12,000 crore fraud this year.

09 Mar 2018 7:15 PM

Bank sought 100 per cent cash margins for issuing LoUs for raising buyers' credit, which was contested by the firms saying they had availed of the facility from as early as 2010. (Photo: PTI)

PNB may be given 1 year to provision against Rs 12,646 cr fraud

Bank has written a letter to banking sector regulator seeking its opinion on making provisions for fraud.

09 Mar 2018 11:29 AM

This is the 15th straight session of fall for the stock.

Gitanjali Gems falls 5 per cent, hits fresh 52-week low

On NSE, the stock fell to a 52-week low of Rs 17.40.

07 Mar 2018 10:38 AM

Sonia Gandhi to host dinner to keep Opposition flock united

Mrs Gandhi was very active in the Lok Sabha on Tuesday as she egged on her party MPs to raise the PNB scam and other issues effectively.

07 Mar 2018 1:31 AM

Union Law Minister Ravi Shankar Prasad. (Photo: PTI/File)

Congress helped Nirav under 80:20 gold scheme: BJP

The Congress along with other Oppn parties raised the issue on the first day of the budget session of Parliament, which resumed after a break.

06 Mar 2018 6:10 AM

Nirav Modi and Mehul Choksi, key accused in Punjab National Bank scam. (Photo: PTI)

PNB scam: CBI, ED push for red corner notice on duo

Sources further said the quantum of the alleged fraud perpetrated in the bank by Modi and Choksi stands close to $2 billion.

05 Mar 2018 4:33 AM

The bill to target fugitive economic offenders was approved by the Union Cabinet following the escape of diamond merchant Nirav Modi and other accused in the over Rs 12,700 crore PNB scam.

Opposition will target govt over PNB scam, I&B row

The Congress is also expected to raise the issue of its leaders being targeted by the CBI or other enforcement agencies.

05 Mar 2018 1:03 AM

The Punjab National Bank detected a USD 1.77 billion scam in which Modi acquired fraudulent letters of undertaking from one of its branches for overseas credit from other Indian lenders. (Photo: File)

PNB scam: 6 accused, including retd GM in 14-day judicial custody

Gokulnath Shetty and another bank employee Manoj Kharat issued eight letters of understanding worth over Rs 280 crores to Nirav Modi.

03 Mar 2018 6:25 PM

The bank has been scammed to the tune of Rs 12,700 crore by Modi and associates. (Photo: AFP)

RBI conducts risk-based supervision on annual basis: PNB

RBI has not conducted any audit at PNB's Brady House branch in Mumbai.

01 Mar 2018 1:12 PM

Since February 14, when the scam broke, the stock has fallen as much as 37 per cent on BSE. (Photo: PTI)

PNB stock cracks 6 per cent to hit to 20-month low

Stock on Wednesday fell to an intra-day low of Rs 92, down 6.45 per cent over its previous closing price on BSE.

28 Feb 2018 10:56 AM

CBI on Tuesday said PNB has informed the investigating agency that further scam of Rs 1,251 crores has been detected with respect to Gitanjali Gems. (Photo: File)

Further scam of Rs 1251 cr detected in Gitanjali Gems, PNB informs CBI

CBI is now probing Rs 12,636 crore which is (Nirav and Gitanjali) PNB scam, up from Rs 11,421 crore.

27 Feb 2018 5:32 PM

PNB said it has not received any instruction from the government to compensate other lenders for losses arising out of the fraud.

PNB fraud put at close to USD 2 billion

Bank had earlier put the defrauded amount at Rs 11,394.02 crore (USD 1.77 billion).

27 Feb 2018 1:43 PM

State-run bank said amount of fraudulent transactions could be Rs 1,300 crore more than current estimate of about Rs 11,400 crore.

PNB stock slumps 9 per cent to hit 52-week low

Shares of the company opened weak at Rs 107.80, then cracked 8.75 per cent to a 52-week low of Rs 102.10 on the BSE.

27 Feb 2018 10:28 AM

Punjab Chief Minister Amarinder Singh (Photo PTI)

Why PNB director got BJP’s Lok Sabha ticket: Congress

Congress leader Kapil Sibal, without naming Mr Chhina, asked, “Who was the government nominee of the Punjab National Bank, who was he close to?”

25 Feb 2018 3:52 AM

Prime Minister Narendra Modi and Congress chief Rahul Gandhi (Photo: PTI)

Fix blame for ‘Jan Dhan Loot Yojana’ in 60 days: Cong to PM

‘The PM is the most expensive chaukidar we have. Why is all this happening under his nose?’ asked Kapil Sibal.

25 Feb 2018 2:56 AM

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Shobhaa De