Page 14 - Nirav Modi Scam At Pnb

Tough times never last, tough people do: PNB chief Sunil Mehta

The chief reminded the employees about how the bank, set up in 1894, steered through tough times, including two world wars, the great depression in 1930 and India-Pakistan partition in 1947

PNB scam fallout: The profession of chartered accountancy under siege

It is time that the ICAI and senior professionals defend the profession and ensure that it does not become the scapegoat every time a financial scam occurs

Arun Jaitley silent on PNB fraud to protect daughter, says Rahul Gandhi

Gandhi in his tweet about "other law firms" was referring to the searches carried out by the CBI at the Mumbai offices of Cyril Amarchand Mangaldas

PNB scam: RBI initiates audit of PSBs with focus on trade finance, LoUs

Most of the banking frauds and wilful default cases, like Nirav Modi and Vijay Mallya's cases are said to pertain to trade finance

Can 'one village one family' model of Indian diamond industry survive?

Modernisation, rise of other communities can shake the model of one trading community

Why are all key players in PNB fraud from only Gujarat, asks Chidambaram

He also said that the role of SC and the Comptroller and Auditor General of India in these two sectors added fuel to the fire

PNB scam and banking sector crisis: Will NFRA reduce fraud risk?

Setting up of the National Financial Reporting Authorityshould not be viewed as an indictment of ICAI

PNB scam: Are public sector banks good contra bets in Indian markets?

Long-term track record of Nifty Bank index and banking sector funds shows, investors who continue to repose faith in the sector could be richly rewarded over the long term

RBI should ensure that PNB scam doesn't 'paralyse' financial system: Ficci

Ficci prez Rahesh Shah said, "We have to overcome the fear psychosis. The investigation should not result in fear psychosis."

PNB scam: Jewellers face working capital crunch as banks make loans harder

Lenders have increased the number of loan-approving staff; both fund-based assistance and opening LCs and executing export orders have been impacted

PNB scam: Govt makes passport details must for loans of Rs 500 mn and above

For all existing loans of over Rs 500 million, banks have been asked to collect passport details of borrowers within 45 days

PNB scam: Nirav Modi replied to CBI, will take time to return, says lawyer

'He'll take time to come back as there are security concerns and he's managing his business abroad,' said Nirav Modi's lawyer

Eyes wide shut

The PNB fraud belies the stringent code of conduct the bank has put down on paper

PNB fraud fallout: Loan disbursements to corporate India take a hit

public sector banks have scaled down activities like extending trade credit, guarantees and letter of credit

The case that can prompt foreign courts to extradite Nirav Modi

3 companies of Nirav that were hauled in for mis-declaration of exports of diamonds from their units at Surat SEZ could prove to be the lynchpin to the successful prosecution of the Rs 127 bn fraud

Scam-hit PNB may need to provide for around Rs 60 bn in losses this quarter

Bank to pay if RBI declines its relaxation plea

Parliamentary panel asks FinMin to submit report on PNB scam within a month

The panel also asked the ministry to make efforts to bring out regulations to prevent such happenings in the future

Chartered accountants' group says awaiting fraud information from PNB

The role of auditors has also come under the scanner in the scam

ED seized assets worth Rs 71 bn in bank scam cases in Jan-Feb: Govt

These cases also included cases of possessing disproportionate assets, Union Minister of State for Finance said

Before Nirav Modi scam, PNB lost Rs 28 bn to various frauds in FY17

PNB alone reported 158 cases of fraud in 2016/17