Punjab National Bank: News
03 Apr 2018
ICICI BankIndian banks reported one fraud every hour in FY17: Report
According to a report by proxy advisory firm Institutional Investor Advisory Services (IiAS), there was at least one case of fraud committed every hour on an average in Indian banks during the financial year 2017.
03 Apr 2018
Rahul GandhiRahul Gandhi targets Piyush Goyal for 'Shirdi ka Chamatkar'
Keeping up his offensive against the BJP, Congress president Rahul Gandhi today targeted Union Minister Piyush Goyal for his alleged links to the promoter of a company in default of Rs. 650 crore.
02 Apr 2018
Narendra ModiCongress takes a dig at Centre on April Fool's Day
The Congress on Sunday used the April Fool's Day to mock PM Narendra Modi and his government over their alleged failures in creating jobs and rein in corruption as the party marked the occasion as "Jumla Day".
01 Apr 2018
IndiaMicrosoft Ventures to fund Indian tech start-ups
Global-tech major Microsoft is looking at investing in Indian tech start-ups through its venture-funding arm "Microsoft Ventures".
01 Apr 2018
Central Bureau Of Investigation (CBI)CVC plans to take Aadhaar's help to detect bureaucratic corruption
The Central Vigilance Commission today said since Aadhaar was being made mandatory for numerous financial transactions and property deals, it could be used effectively in tracking the ill-gotten wealth of corrupt bureaucrats.
30 Mar 2018
Nirmala SitharamanGovernment will bring back Nirav Modi and Mehul Choksi: Sitharaman
The government will bring back Nirav Modi and Mehul Choksi, who fled the country before the Rs. 12,650 PNB scam came to light, asserted Defense Minister Nirmala Sitharaman today.
28 Mar 2018
MumbaiPNB scam: Nirav Modi's close aide arrested by ED
The Enforcement Directorate has arrested a "close" associate and the Vice President of a firm of diamantaire Nirav Modi in connection with a money-laundering probe in the over Rs. 12,000cr PNB scam, officials said on Wednesday.
27 Mar 2018
Central Bureau Of Investigation (CBI)PNB fraud: Bank manager, 3 others convicted after 24-year trial
A former Punjab National Bank manager and three private persons have been convicted in a loan fraud case by a special court almost after a 24-year trial.
26 Mar 2018
Reserve Bank Of India (RBI)All about PNB's plan to stake claim in Modi's company
In a bid to recover defrauded amounts going up to Rs. 13,000 crore, the Punjab National Bank (PNB) is looking to take part in the bankruptcy proceedings of Nirav Modi's firm, Firestar Diamonds. It had filed for insolvency in a New York court last month.
24 Mar 2018
MumbaiFresh seizure of Nirav Modi's jewelry, watches worth Rs. 26cr
A fresh seizure of antique jewelry, costly watches, and paintings worth Rs. 26cr has been made by the ED from the Mumbai apartment of Nirav Modi in connection with the over Rs. 12,000cr PNB fraud case.
20 Mar 2018
India'Extremely busy in businesses abroad': Choksi again refuses to return
Embattled businessmen Mehul Choksi, uncle of diamantaire Nirav Modi and Gitanjali Gems chairman, has once again refused to return to India.
18 Mar 2018
IndiaRBI: Rs. 11,302 crore lying unclaimed with 64 banks
Data from the Reserve Bank of India (RBI) has revealed that a whopping Rs. 11,302 crore belonging to over three crore account holders is lying unclaimed with 64 banks - both public and private.
17 Mar 2018
Nirav ModiPNB Fraud Case: 11 accused get judicial-custody till 28 March
The 11 accused arrested in connection with the multi-crore Punjab National Bank fraud case were remanded in judicial custody till 28 March by a special CBI court in Mumbai.
15 Mar 2018
Venkaiah NaiduParliament must debate bank frauds issue, says Venkaiah Naidu
Vice President Venkaiah Naidu Thursday said Parliament should debate the serious issue of alleged PNB bank fraud by Nirav Modi and others that have damaged the country's image and led people to question the entire banking system.
15 Mar 2018
Narendra ModiAnother Nirav Modi-like scam surfaces at PNB's Brady House branch
Reports have emerged of another scam at PNB's Brady House branch in Mumbai, the site of the infamous Rs. 12,650cr Nirav Modi scam.
13 Mar 2018
IndiaPNB Fraud Fallout: RBI discontinues LoUs/LoCs issuance for trade credits
Learning from the multi-crore PNB scam, involving jewelers Nirav Modi and Mehul Choksi, the Reserve Bank of India has decided to discontinue issuance of LoUs (letters of undertaking) and LoCs (letters of comfort) as trade credits for imports into the country.
13 Mar 2018
Venkaiah NaiduBudget session: Opposition angry as Finance Bill passed without discussion
The Opposition parties continued their various protests for the seventh straight day of the Budget session, disrupting the proceedings of the house.
13 Mar 2018
IndiaPNB scam: Bank rejects Nirav Modi's offer, demands full repayment
In a strongly-worded letter, PNB has rejected Nirav Modi's "vague" offer of partial repayment in the Rs. 12,650cr scam, asking him to pay the entire amount immediately.
10 Mar 2018
IndiaPassport details made mandatory for Rs. 50cr+ loans
Following several high profile cases of economic offenders leaving the country, the government has made it mandatory for borrowers looking for loans above Rs. 50cr to submit their passport details to banks.
09 Mar 2018
DelhiBank unions to organize dharna in Delhi on 21 March
The United Forum of Bank Unions (UFBU) on Friday said it would organize a "massive" dharna in Delhi on 21 March in support of its demands, said a report.
07 Mar 2018
Shiv SenaBudget Session: No work and only protests dominate Parliament
Proceedings continue to be stalled in Parliament on day 3 of the Budget session.
07 Mar 2018
Delhi High CourtDelhi HC seeks ED's reply on Nirav Modi firm's plea
The Delhi High Court on Wednesday sought response of the Enforcement Directorate on a plea by Nirav Modi's firm Firestar Diamond against a money laundering case lodged by the agency in connection with the over Rs. 11,000cr Punjab National Bank (PNB) fraud case.
06 Mar 2018
MumbaiPNB Scam: CBI detains Gitanjali Group Vice-President Vipul Chitalia
The CBI has detained Vipul Chitalia, Vice-President of Gitanjali Group of Companies, as part of its probe into the Rs. 12,636cr Punjab National Bank fraud.
05 Mar 2018
Income Tax Department of IndiaI-T scam: 447 companies illegally diverted TDS worth Rs. 3,200cr
Even as the Rs. 12,650cr PNB scam rages on, another massive fraud has come to light in which 447 companies illegally diverted funds worth Rs. 3,200cr to their own businesses.
05 Mar 2018
IndiaBudget session stormed by Nirav Modi, Karti Chidambaram issues
The second part of the budget session began today on a stormy note, with the ruling and opposition parties training their guns on each other over major corruption scandals.
04 Mar 2018
Narendra ModiCongress launches campaign against Centre in Himachal Pradesh
Himachal Pradesh Congress on Saturday launched a campaign over the alleged failures of the Narendra Modi dispensation and passed five resolutions against the Centre and the state government.
04 Mar 2018
IndiaPNB scam: Nirav Modi bribed official with gold and diamond
Billionaire Nirav Modi bribed a bank official with gold and diamond for his assistance in the Rs. 12,650cr PNB scam, CBI said.
03 Mar 2018
IndiaPNB Scam: Non-bailable arrest warrants issued for Modi and Choksi
A special court, set up under the Prevention of Money Laundering Act, has issued non-bailable arrest warrants for diamond traders Nirav Modi and Mehul Choksi in the alleged Rs. 12,650 crore Punjab National Bank scam.
02 Mar 2018
Central Bureau Of Investigation (CBI)Can't confirm if Nirav Modi is in US: State official
The US has acknowledged reports in Indian media that embattled billionaire Nirav Modi is in the country, but is unable to confirm them, a state department official said.
02 Mar 2018
Reserve Bank Of India (RBI)SBI, PNB lending-rates hiked: Home and other loans get costlier
Two state-run lenders State Bank of India and Punjab National Bank raised their lending rates by up to 20 basis points, a move that will increase interest-rates on existing as well as home, auto loans, and personal loans.
02 Mar 2018
Central Bureau Of Investigation (CBI)US won't confirm reports of Nirav Modi's presence there
The US government is aware of media reports that diamond jeweler Nirav Modi is in the country but is unable to confirm them, a State Department official said on Friday.
01 Mar 2018
Central Bureau Of Investigation (CBI)PNB-scam: Nirav Modi 'busy' with business, refuses to join probe
Nirav Modi, accused in the massive PNB scam, has refused to join the CBI investigation citing business engagements abroad.
28 Feb 2018
IndiaPNB scam fallout: Center acts on setting up long-delayed NFRA
The massive PNB scam, India's biggest banking fraud till date, seems to have rattled the authorities.
27 Feb 2018
IndiaPNB scam: Nirav Modi's Firestar Diamond files for bankruptcy
Even as billionaire Nirav Modi battles allegations of committing India's largest bank fraud of Rs. 11,400cr, his international jewelry brand, Firestar Diamond Inc, has filed for bankruptcy in the US.
27 Feb 2018
IndiaNirav Modi case: Fraud amount could be Rs. 1,323cr more
The PNB scam, one of the biggest frauds in India's history, was initially estimated at Rs. 11,400cr, but the bank now says the amount of unauthorized transactions could be Rs. 1,300cr more than that.
25 Feb 2018
IndiaNirav Modi deposited Rs.90cr in PNB before demonetization: NCP MLA
Even as billionaire Nirav Modi battles allegations of the largest banking fraud in India's history, he has been hit by more incriminating accusations.
25 Feb 2018
Reserve Bank Of India (RBI)RBI to banks: Link SWIFT, Core Banking Solution by April
The Reserve Bank of India (RBI) has set April 30 as the deadline for banks to integrate SWIFT (Society for Worldwide Interbank Financial Telecommunication) with Core Banking Solutions (CBS), as it looks to strengthen internal controls after the PNB fraud case.
25 Feb 2018
IndiaNirav Modi-scam: Property worth Rs. 523cr attached, PNB CEO questioned
Continuing its investigation into the Rs. 11,400cr PNB scam, the CBI yesterday questioned two top officials of the bank, including CEO and MD Sunil Mehta.
24 Feb 2018
IndiaNirav Modi fraud: Modi and Choski's passports revoked
The passports of Nirav Modi and Mehul Choski - accused of over Rs. 11,400 crore worth of fraud - have been revoked, according to sources from the Ministry of External Affairs (MEA).
24 Feb 2018
India10,000 employees left helpless as Modi, Choksi deny salaries
Days after Nirav Modi wrote to employees to look for other jobs, uncle Mehul Choksi, Gitanjali chairman, has followed suit.
