Page 29 - Nirav Modi Scam At Pnb

PNB fraud: Who's liable and why multiple audits failed to raise an alarm?

While the scam highlights the need for an overhaul of the oversight mechanism of banks and of their internal controls, questions are being raised on why multiple audits failed to raise an alarm

PNB fraud: Banking shares are expected to be on tenterhooks

Most European markets have rallied four per cent in dollar terms and US markets have gained about 5 per cent during the same period

PNB scam: Govt is watching every move investigative agencies are taking

The RBI expects the assessment to show if the systemic failure was only in PNB or in the overall banking universe

Scam-hit PNB acts to integrate SWIFT into its core banking solution

State Bank of India, the country's largest, uses products from Tata Consultancy Services for its CBS

PNB fraud underlines need for more privatisation: Arvind Subramanian

Public ownership creates a complicated three-way line of control - ownership and regulation between the government, the regulator and the banks themselves, says CEA

PNB scam: Jewellers expect more casualties and tighter regulations

Informal lenders, suppliers to Nirav Modi and Choksi firms will be starved of cash

Rs 114-bn PNB scam: Why fraudsters prefer to use Letter of Undertaking

Most frauds in Indian banking have been due to use of LCs. And, PNB seems to be a favourite with such fraudsters

PNB reiterates: Will honour all bona fide commitments to other banks

The RBI, on Friday, denied reports it had issued instructions to PNB to meet its commitments under LoUs to other banks

Probe into PNB scam starts in full swing; 200 shell firms under scanner

The agency on Sunday evening did searches at the Brady Road branch of PNB in Mumbai

Nirav Modi team had a free run at PNB; CBI quizzes Firestar's Vipul Ambani

Conniving PNB staff got 'commission' on every LoU

PNB fraud: Why India's banking system is flawed and how we can fix it

What was the Reserve Bank of India (RBI) doing, what was the bank top management doing, what were the internal, statutory and concurrent auditors doing, and so on

PNB fraud: What does it take to set up a high-performance RBI?

We should block the nominal growth of banking until we get to a minimum level of capabilities at the regulator

PNB crisis: Chaos underlines financial services department's poor capacity

Punjab National Bank's problems also underline the poor capacity of the department of financial services

Virat Kohli, Priyanka and others caught in the PNB fraud case crossfire

The ensuing blame game could sully reputations and fracture an already fragile relationship between brands and endorsers

PNB scam: Met Dinesh Dubey only once, says ex-financial services secy Takru

Takru said he had met Dubey when the latter had offered to resign as director in Allahabad Bank

PNB scam: Odisha to review Gitanjali group's Rs 6-bn jewellery park project

The Odisha government will review the Gitanjali group's Rs 6.36 billion project to set up a gems, jewellery, lifestyle and luxury goods park in the state following involvement of the jewellery behemoth in the Rs 114 billion Punjab National Bank (PNB) fraud case.The project was to be set up by Gitanjali Infratech, a part of the Mumbai-based Gitanjali group, on 100 acres land at Ramdaspur near Cuttack, and it had received approval of the state government in November, last year."Following the revelation of Gitanjali group's involvement in the PNB fraud case, we have decided to review the project", said a top official of the Odisha government.He said, out of 100 acres earmarked for the gems, jewellery park, 30 acres had been allotted to the company for which it had made necessary payment to Odisha Industrial Infrastructure Development Corporation (Idco).Gitanjali group chairman and managing director, Mehul Choksi along with his nephew Nirav Modi are accused of defrauding PNB to the tune ..

PNB fraud: Enforcement Directorate raids over 45 locations in 15 cities

The ED on Friday and Saturday also conducted raids at 35 and 21 locations across India respectively in connection with the 114 billion fraud

PNB Rs 114-bn fraud: Is it a threat or opportunity for investors?

But it may go into a long downward spiral before things turn around

PNB scam: UCO Bank has $412 mn in exposure to fraudulent transactions

The alleged fraud at PNB benefited billionaire jeweller, Nirav Modi and jewellery retailer Gitanjali

PNB scam: Bank sees 23% jump in outstanding loan against wilful defaulters

PNB has unearthed Rs 114 billion fraud allegedly involving billionaire jeweller Nirav Modi and associate companies