Page 34 - Nirav Modi Scam At Pnb

NPA rules and Rs 110-bn fraud can put one-fourth of PNB's net worth at risk

The fraudulent transactions, which can be as much as $1.77 bn, along with new NPA rules can lead to a surge in provisioning

PNB fraud: Big jewellers Gitanjali, Ginni, Nakshatra under scanner

Banks are now looking at their systems and processes so that such frauds are not repeated

PNB names Nirav Modi and Gitanjali Gems in the mega Rs 114-bn fraud

Core banking system bypassed to issue unauthorised and fraudulent guarantees

Banks' risk management under a cloud after Rs 114-bn PNB fraud case

The latest fraud is a failure of management supervision and accountability, say experts

PNB fraud case: Lenders seek forensic audit of Gitanjali group's books

Bankers said the Gitanjali group had a standard account with IDBI Bank and Dena Bank

News Digest: Rs 114-bn PNB fraud, Modicare, Airtel Africa listing, and more

Delhi-based Punjab National Bank (PNB) said on Wednesday it had been defrauded of about Rs 114 billion

Rs 2.8-bn PNB-Nirav Modi fraud case: ED registers money laundering case

Official sources said ED filed the case under the Prevention of Money Laundering Act after going through a CBI FIR

PNB fraud: Sebi likely to probe disclosure lapses by banks, jewellery firms

The trading patterns of the companies as well as their senior officials who have come under the lens would also be looked by Sebi

Rs 114-bn fraud: Other lenders flouted RBI rules, PNB tells 30 bank heads

'There is a clear criminal connivance of group companies of Nirav Modi and Gitanjali Gems,' said PNB

25,600 cases! Indian banks were defrauded of Rs 1.79 bn till December 2017

Data released by the RBI last March revealed that during the first nine-months of 2016-17, 455 cases of fraudulent transactions of Rs 100,000 and above were detected at ICICI Bank

Despite banks blowing the whistle on bad loans, the Nirav Modi show goes on

Modi has been relentless in building his brand regardless of banks having a problem of fraudulent and unauthorised transactions with his companies

For Indian banks, the worst of their bad-loan woes may be yet to come

The central bank surprised the financial sector this week by halting all of its existing loan-restructuring mechanisms with immediate effect, and rolling out new rules

PNB fraud to impact other banks, increase their bad loans provisions

Some banks have direct exposure to Nirav Modi's companies

PNB fraud case: ED searches Nirav Modi's residence, 11 other locations

Confirming the development, an ED official said that search operation is underway and would continue for two days

PNB Rs 114 bn fraud: How 2 bankers, Nirav Modi & his cohorts pulled it off

PNB said it had been defrauded of about Rs 114 billion by jeweller Nirav Modi, his maternal uncle Mehul Chinubhai Choksi, and other relatives

PNB fraud: Opposition demands answers on Nirav Modi from Modi government

The Congress party, Delhi Chief Minister Arvind Kejriwal and Communist Party of India (Marxist) chief Sitaram Yechury insinuated that the Narendra Modi government helped Nirav Modi escape Indian law

PNB scam: Will not spare anyone who was involved, says MD & CEO Sunil Mehta

CEO said that the scam was detected by bank officials for the first time on January 25

Nirav Modi hugged PM Modi, looted while govt looked other way: Rahul Gandhi

Congress MP Gaurav Gogoi posted a picture of Prime Minister Modi with Indian CEOs at the World Economic Forum in Davos in January

PNB, Gitanjali Gems, D B Corp among 17 stocks that hit 52-week low

Six public sector banks include Allahabad Bank, Corporation Bank, Dena Bank, Oriental Bank of Commerce and Union Bank of India touched 52-week lows on the BSE.

PNB extends fall post Rs 114-bn fraud detection; Gitanjali hits 52-week low

On Thursday, The PNB chief said the fraud was detected on January 25 and was reported to the investigative agencies, including the Central Bureau of Investigation (CBI) on January 29