Punjab National Bank | The Asian Age

Saturday, Apr 27, 2024 | Last Update : 07:25 AM IST

Punjab National Bank Page-9

Banks report Rs 61,260 crore frauds

State-owned banks report 8,670 loan fraud cases till 2017, says RBI data.

17 Feb 2018 1:29 AM

PNB topped the list with 389 cases totalling 65.62 billion rupees (USD 1.03 billion) over the last five financial years, in terms of the total amounts involved. (Photo: File)

Unpublished data shows India's fraud problems extend far beyond PNB

RBI data shows state-run banks have reported 8,670 'loan fraud' cases Rs 612.6 bn over last 5 financial years up to March 31, 2017.

16 Feb 2018 6:00 PM

Nirav Modi's wife Ami, a US citizen, left on January 6 and his uncle and business partner Choksi, the promoter of Gitanjali jewellery chain, left on January 4, the officials said. (Photo: File)

PNB fraud case: MEA suspends Nirav Modi, Choksi’s passport for 4 weeks

Nirav who holds an Indian passport, left India on Jan 1, while his brother Nishal, a Belgian citizen, departed from the country on same day.

16 Feb 2018 11:05 AM

PNB continued to reel under pressure for third consecutive day after detection of Rs 11,400-crore fraud. (Photo: PTI)

Punjab National Bank shares slide for third day

Stock hit its 52-week low on both BSE and NSE on Friday after it opened on a bearish note and fell 3.27 per cent to Rs 124.15 on BSE.

16 Feb 2018 10:29 AM

Fraud saw light after accomplice retired

PNB has charged that foreign branches of other Indian banks may also be involved in the fraud.

16 Feb 2018 8:11 AM

Punjab National Bank MD and CEO Sunil Mehta

Nirav Modi offered to pay, says PNB boss

The PNB CMD further said the bank has informed all the lenders about the case.

16 Feb 2018 8:08 AM

Punjab National Bank’s Mumbai had issued nearly 150 fraudulent letters of undertaking to Nirav Modi and his associates.

Fraud casts doubts on banks

Analysts say PNB episode expands risk areas for banks; claim PSBs use faulty procedure.

16 Feb 2018 8:04 AM

Nirav Modi (in red circle) and PM Narendra Modi along with the Indian business delegation at Davos in January.

Is huge fraud at PNB really an aberration?

The Reserve Bank, which does a regular inspection of banks in this country, could possibly examine the risk management lapses more closely.

16 Feb 2018 12:52 AM

Diamond, jewellery and gold worth Rs 5,100 crore have been seized during the searches, the ED officials said. (Photo: Twitter | ANI)

Enforcement Directorate raids Nirav Modi properties, seizes Rs 5,100 cr jewellery

Five properties belonging to Nirav Modi and the other accused in Mumbai were sealed by the Enforcement Directorate.

15 Feb 2018 9:26 PM

PNB has suspended 10 officers over the scam and referred the matter to CBI for investigation. (Photo: PTI)

PNB tanks 9 per cent on Rs 11,400-crore scam

PNB stock opened at Rs 137, then hit a low of Rs 133.45, down 8.47 per cent over its previous closing price.

15 Feb 2018 11:58 AM

PNB fraud: ED conducts multi-city raids on Nirav Modi showrooms

ED teams raided three sites in Surat, four in Mumbai and two in Delhi on Thursday morning.

15 Feb 2018 11:46 AM

The CBI has received two complaints from the PNB against billionaire diamantaire Nirav Modi and a jewellery company alleging fraudulent transactions. (Photo: File)

PNB scam: Nirav Modi got fraudulent LOUs for overseas credit

PNB has suspended 10 officers over the USD 1.77 billionscam and referred matter to CBI for investigation.

15 Feb 2018 10:11 AM

Bank of India reported the second steepest loss at Rs 2,341 crore.

Public sector banks report Rs 19,000 crore loss

The total losses reported by 16 public sector banks amount to Rs 18,947 crore.

15 Feb 2018 2:14 AM

PNB detects Rs 11,346 crore fraud, other lenders may be hit too

Billionaire jeweller Nirav Modi seen behind fraud; CBI, ED probing case.

15 Feb 2018 2:10 AM

CBI has received two complaints from PNB against billionaire jewellery designer Nirav Modi and a jewellery company about fraudulent transactions. (Photo: Facebook)

PNB detects Rs 11,000Cr fraud, Nirav Modi to face fresh CBI probe

Nirav Modi is already being investigated by the CBI for alleged cheating and fraud involving Rs 280 crore at a PNB branch.

14 Feb 2018 7:59 PM

NSE Nifty settled the day 38.85 points or 0.37 per cent lower at 10,500.90 after shuttling between 10,590.55 and 10,456.65, intra-day.

PNB weigh on markets, closes 10 pc down; Sensex falls 144 points

Banking stocks tumbled on Reserve Bank of India’s (RBI) new norms for recognising stressed assets.

14 Feb 2018 4:28 PM

Bank did not name the people involved but said it had reported the deals to law enforcement agencies.

PNB detects USD 1.77 bn worth of fraudulent transactions

Punjab National Bank shares fell as much as 5.7 per cent in early trading on Wednesday.

14 Feb 2018 10:49 AM

Govt entered into an agreement with ONGC for strategic sale of its equity share-holding in HPCL.

ONGC borrows Rs 4,000 crore from ICICI Bank

Company's board has approved raising of the borrowing limit from Rs 25,000 crores to Rs 35,000 crores.

25 Jan 2018 10:33 AM

RBI's deadline to resolve these identified cases with a total loan exposure of about Rs 4 lakh crore by banks ended two days ago.

PNB expects resolution of 4-5 large NPA accounts bilaterally

Out of 28 identified cases, Punjab National Bank has exposure in 20 accounts.

02 Jan 2018 4:18 PM

Total fund-raising of 50 billion rupees, including the upsize option, is aimed at boosting the bank’s capital ratio.

Punjab National Bank launches up to 50 billion rupees share sale

Punjab National Bank is looking to sell the shares at an indicative price of 168 rupees each.

12 Dec 2017 12:46 PM

9 of 11

Columns

Farrukh Dhondy