Page 19 - Nirav Modi Scam At Pnb

PNB scam may push up pricing for trade loans as rates rise as much as 0.5%

Signs that trade credit is getting tougher for smaller firms have hurt the rupee, which is among Asia's worst performers this month

PNB scam: Bank ignored warnings from Gitanjali Gems auditor in March 2017

Auditor warned Gitanjali defaulted to other banks too

Will form social enterprise to bid for Nirav's Rhythm House: Anand Mahindra

The Rhythm House is one of the 21 properties of Nirav Modi worth Rs 5.24 bililon seized by the law enforcing agencies so far

PNB tumbles over 12%, PSU bank index sheds 3.5%

Investors started dumping PNB shares ever since the bank disclosed a $2-billion fraud in its system

CBI questions PNB's ex-MD, ICICI official; ED files NBW for Nirav Modi

ICICI Bank was the lead lender to at least three entities belonging to Mehul Choksi's Gitanjali group

Shift from 'maun Modi to bol Modi': Congress tells PM on PNB scam

This means that the total scam has gone up to USD 2 billion, according to the documents released by Punjab National Bank, Surjewala said

CBI questions PNB ex-MD Usha Ananthasubramanian, ICICI's ED over Nirav case

On Monday, the CBI questioned three statutory auditors and two General Managers of PNB

How state-owned banks function: An explainer of PNB financial fraud

There are no clear regulations and guidelines on how much collateral should be guaranteed as against a loan

PNB fraud: Gems & jewellery industry bad loans may rise to 30%, says CARE

Over 7,000 job losses feared, with about 2,800 heads rolling at Gitanjali and Fire Star alone

PNB scam: Fraud by Nirav Modi, Choksi widens to $2 bn; top 10 developments

ED has obtained the court's nod to issue six Letters Rogatory, or judicial requests for obtaining information from overseas locations, pertaining to its probe into the alleged Nirav Modi scam at PNB

PNB fraud: FinMin sets 15-day deadline for banks to fix operational gaps

Punjab National Bank disclosed a $2 billion fraud, stunning the country and putting the lack of supervisory oversight

Rs 114-bn PNB fraud gets bigger: Bank says total dues can be Rs 13 bn more

Punjab National Bank detected the fraud wherein Nirav Modi and associates allegedly acquired fraudulent letters of undertaking

PNB hits 20-month low on discovery of additional unauthorized transactions

The stock slipped 9% to Rs 102 on the BSE in intra-day trade, its lowest level since June 24, 2016.

PNB tightens staff transfer policy to ensure irregularities do not recur

Recap not discussed, PNB may approach govt for additional funds

SBI Chairman Rajnish Kumar expects PNB to clear Rs 13 billion dues

He said the exposure of SBI to Gitanjali Gems - one of the companies involved in the scam - has also been crystallised and there was no issue on that

PNB fraud case: Key Nirav Modi papers seized from law firm

The CBI, however, clarified that it was not examining the law firm

PNB fraud: Asset-backed securities not affected by scam, says Fitch Ratings

Asset-backed securities are bonds or notes backed by financial assets

PNB scam: Govt fast-tracks bill to seize assets of defaulters fleeing India

Currently, confiscation can be done through multiple laws but it is a complicated process

Post PNB fraud, bank unions call off March 15 strike

The union said: 'Instead of a full-scale investigation, attempts are being made to single out a few lower level employees'

Message from market to PNB, other PSBs: Bring in new credible leadership

We will support if the govt brings in credible leadership, changes the incentive structure, and fortifies the board, says markets