Page 21 - Nirav Modi Scam At Pnb

PNB fraud: Business lending shouldn't come to a standstill, urges Assocham

PNB lodged two financial fraud complaints of Rs 11400 crore and Rs 280 crore against Nirav Modi, his family members and Mehul Choksi

The not-so-peculiar link between bank frauds and political funding

How it works: A large borrower is allowed to borrow in excess of the project's needs. The excess is passed on to a political party. Businessman keeps his cut

PNB scam: Passports of Nirav Modi, Mehul Choksi revoked, say MEA sources

Ministry sources said that future course of action will be taken on the advice of the investigation agencies

Another PNB scam: After Nirav Modi, Rs 6.2 mn Mudra loan fraud reported

Senior branch manager at PNB's Barmer branch in Rajasthan dishonestly and fraudulently sanctioned, disbursed 26 Mudra loans

CBI questions PNB chief

They are not being treated as accused, the officials said

PNB fraud: Nirav Modi's art collection seized

150 paintings recovered from warehouse; artwork by Souza, Gaitonde, Raza confiscated

Justice I deserve is far off: Mehul Choksi to staff

Choksi said the HR has been instructed to issue relieving letters and experience certificates if the employees require it

Rs 114-bn scam: CBI questions PNB CEO Sunil Mehta, Director Brahmaji Rao

Questioning of 12 arrested accused persons continued on Saturday, a CBI official said

PNB fraud: Justice I deserve is far off, says Mehul Choksi to jobless staff

Mehul Choksi wrote to 3,500 employees, saying it would be 'very tough' to clear dues of his employees or pay future salaries

PM Narendra Modi 'most expensive watchman' in the world, says Kapil Sibal

Narendra Modi gets a house, a plane; he is the most expensive watchman in the world, says Kapil Sibal

PNB scam: ED attaches 21 properties worth Rs 5.23 bn of Nirav Modi group

Nirav Modi, Mehul Choksi, others are being investigated by ED and other probe agencies after Rs 114 bn-fraud came to light

PNB fraud 'scar' on economy: Jaitley slams regulators, hints at new norms

At ET Global Business Summit, Arun Jaitley said that unlike politicians, regulators in the Indian system are unaccountable

After PNB, Rs 3.9-bn Oriental Bank of Commerce scam hits banking sector

The lender alleged that Dwarka Das Seth International cheated the bank using Letters of Credit

RBI announces ombudsman scheme to address complaints against NBFCs

If the NBFC rejects the complaint or does not respond within a month, the customer can approach the Ombudsman

PNB scam: Won't tolerate irregularities in financial sector, says PM Modi

I want to appeal to those who have been given the task of framing rules and maintaining ethics in financial institutions to perform their duty with full faith, said Modi

PNB fraud: Global accounting firms under lens

The court said the Centre could consider steps for effective enforcement of the provisions of the Foreign Direct Investment (FDI) policy

Rs 114-bn PNB fraud adds to Rupee's woes as banks may tighten trade credit

The rupee is set for its worst week since September as traders cite enhanced demand for dollars in spot and forwards market

Gitanjali Gems was a partner for Vibrant Gujarat Summit 2017: Congress

New Delhi, 23 FebruaryThe Congress party on Friday alleged the bank fraud involving jewellers Nirav Modi and Mehul Choksi not only siphoned Rs 213 billion from public sector banks, but also cheated India's middle class of Rs 50 billion.Gujarat Congress leader and national spokesperson Shaktisinh Gohil said Mehul Choksi owned Gitanjali Gems Limited had floated three jewellery investment schemes - Shagun, Swarna Mangal Labh (SML) and Swarna Mangal Kalash (SMK).He said under these schemes people seeking to buy jewellery were given an attractive option to earn a return on investment. People needed to pay 11 installments, while the Gitanjali Group promised to pay the 12th as free. Tenures of these installments ranged from 12, 24, or 36 months. At the end of this tenure, the accumulated money could be redeemed for jewellery with additional bonus of up to 50 per cent, Gohil said."But people were duped in these schemes. In large number of cases, neither the installment was paid nor jewellery .

PNB fraud: 1,200 Hyderabad Gems SEZ workers lose jobs

The livelihoods of these workers - 700 of them differently-abled and mostly women - was disrupted last week

Rs 114-bn scam: PNB says will not appoint PwC India as forensic auditor

The second largest public sector bank found itself in a fix after PwC emerged lowest bidder for the audit