Page 26 - Nirav Modi Scam At Pnb

Revealed: Gitanjali promoter Mehul Choksi's Hong Kong 'money' connection

Documents with Business Standard show Hong Kong companies that got millions of dollars are located in same building and use same staff as Choksi's firm

I-T slaps fresh charges against Nirav Modi under new anti-black money law

The latest foreign asset is suspected to be a trust registered in Jersey, located near the coast of Normandy

CBI questions 10 PNB officials, 18 employees of Nirav Modi, Gitanjali group

A Central Bureau of Investigation (CBI) team also conducted raids at diamantaire Nirav Modi's Alibaug farmhouse near Mumbai

PNB scam: RBI says had issued warnings on possible misuse of SWIFT system

Employees of PNB are suspected to have steered fraudulent loans through the platform to overseas accounts

Jaitley breaks silence on PNB fraud, says India will chase down cheaters

Nirav Modi has said PNB's overzealous approach shut the doors on his ability to clear the dues

114-bn PNB fraud: SC to hear PIL seeking SIT probe on Wednesday

The plea has sought a direction to the finance ministry to frame guidelines on the grant and disbursal of loans involving big amounts

Nirav Modi scam: Fraud-hit PNB loses Rs 110 billion in mcap in 5 days

The stock had dropped in the previous four trading sessions. In the past one week, the stock has lost nearly 28 per cent

Nirav Modi PNB fraud: How bank auditors failed to detect scam in 6 years

The problem here is that internal auditors are good at accounts, but they are not trained to track foreign exchange transactions

Nirav Modi scam: Moody's, Fitch warn fraud-hit PNB of rating downgrades

The Rs 114 billion fraud--the biggest in the country's banking history--has raised questions on both internal and external risk controls at PNB

Moody's places PNB under review for downgrade after Nirav Modi's fraud

The scam came out into the open on 14 February 2018, when it informed the stock exchanges

PNB drops out of top-100 most valued stocks

At 11:55 am; with Rs 272 billion market-cap, PNB stood at 108th position, lost Rs 120 billion from Rs 392 billion as on February 12, 2018.

PNB fraud: BJP questions proximity between Amit Mitra, Mehul Choksi

Earlier, BJP's Dilip Ghosh uploaded some pictures of Mitra with Choksi on social media which led to a major slugfest between the Trinamool Congress (TMC) and the Opposition parties

Little exposure to Gitanjali Gems, none to Nirav Modi: IndusInd Bank

Private sector lender IndusInd Bank today said it has no direct or indirect credit exposures to Nirav Modi with regards to the LoUs issued by the scam-hit Punjab National Bank. The bank, however, added that it has a "small, two-digit exposure" to Gitanjali Gems not linked to any LoUs", without disclosing the exact amount. Shares of the bank were trading 1 per cent higher at Rs 1,648.35 on BSE in morning trade. "IndusInd Bank has no direct credit exposures to Nirav Modi nor any indirect credit exposures basis the LoUs issued by PNB. As regards Gitanjali Gems, the Bank has a small, two digit exposure, not linked to any LOUs," the bank said in a regulatory filing. Citing a Gem & Jewellery Export Promotion Council, India (GPEC) press statement, IndusInd Bank said there are stringent norms for bank finance to the gem and jewellery trade stipulated by the Reserve Bank of India and the Government of India. "The present incident has taken place due to non-adherence of procedures and norms

PNB scam: Fitch places bank's rating under watch with negative implications

The move could lead to a possible downgrade for Punjab National Bank, India's second-largest public-sector bank

Gitanjali Gems fall continues; stock tanks 52% in one week

The stock is locked in lower circuit of 10% at Rs 30.45, falling 52% in past one week from Rs 62.85 on February 12, 2018

PNB fraud: No jail for Nirav Modi? Lawyer says case will collapse like 2G

Lawyer Vijay Aggarwal said that probe agencies will not be able to prove charges against Nirav Modi in the court of law

Nirav Modi scam at PNB: CBI arrests 3 more, ED to question five banks

Agency to verify checks and balances, suspects money laundering by Nirav Modi

Rs 114-bn PNB scam: Auditor Deloitte seeks answers from Nirav Modi company

The auditor to Modi's Firestar International, Deloitte signed off the accounts for financial years ended March 2016 and March 2017

Amid Nirav Modi-PNB fraud case, a look at top businessmen who fled India

From Jatin Mehta to Vijay Mallya, here are the top Indian businessmen who fled country after defaulting on huge loans

PSB stocks continue to reel after PNB fraud case; drop as much as 10%

State-owned banks continued to reel under the multi-billion fraud at Punjab National Bank (PNB) with Nifty PSU Bank index dropping 2.5 per cent to a four-month low. The gauge for the performance of public sector banks (PSBs) has dropped 10 per cent since Monday when the Rs 113-billion fraud at the country's second-largest PSB came to light. Shares of at least a dozen PSBs have declined 10 per cent or more in the past one week, with PNB bearing the maximum brunt.Its shares fell another 7.3 per cent on Monday, extending one-week fall to 28 per cent. The fraud has had a ripple effect on other PSBs with Bank of Baroda shares falling 14.6 per cent since February 12. State Bank of India (SBI), India's largest public sector lender, lost 7.2 per cent during the period. In the past one week, the market value of the PSB pack has dropped by Rs 489 billion.Shares of UCO Bank too came under the selling pressure on Monday as the lender in a stock exchange disclosure on Saturday said its Hong Kong ..