Biggest Banking Fraud

Biggest Banking Fraud News

Rs 824 cr Kanishk Gold fraud: CBI grills directors Bhoopesh Jain, wife Neeta; files case on SBI’s complaint
Business

Rs 824 cr Kanishk Gold fraud: CBI grills directors Bhoopesh Jain, wife Neeta; files case on SBI’s complaint

Kanishk Gold makes gold jewellery marketed under the brand 'Krizz', which were sold through distributors till 2014.

As more frauds surface, RBI issues strictures to auditors of PSBs to keep closer watch on banks
Business

As more frauds surface, RBI issues strictures to auditors of PSBs to keep closer watch on banks

It has been reported that the companies falsify the figures on cash flow projections in order to get new loans from banks.

Another banking fraud? SBI charges Chennai-based Kanishk Gold of duping 14 banks to the tune of Rs 1,000 cr: Report
Business

Another banking fraud? SBI charges Chennai-based Kanishk Gold of duping 14 banks to the tune of Rs 1,000 cr: Report

Chennai-based Kanish Gold has a registered office in T Nagar in and is owned by promoters and directors Bhoopesh Kumar Jain and his wife Neeta Jain, says report

Mallya to Modi: Rs 26,000-cr bank scams call for massive crackdown on erring bankers, but no witch-hunt
Business

Mallya to Modi: Rs 26,000-cr bank scams call for massive crackdown on erring bankers, but no witch-hunt

A series of investigations by central investigative agencies into the telecom, mining and real estate sectors had left every banker with the fear of getting prosecuted.

PNB head Sunil Mehta likely to appear before SFIO after agency summoned Chanda Kochhar and Shikha Sharma
Business

PNB head Sunil Mehta likely to appear before SFIO after agency summoned Chanda Kochhar and Shikha Sharma

As part of the investigation, the SFIO has issued summons to heads of over 30 banks that have exposure to companies of diamond traders Nirav Modi and Mehul Choksi.

PNB fraud: Gitanjali Group VP Vipul Chitalia sent to police custody, ED to issue LRs to over 15 countries
Business

PNB fraud: Gitanjali Group VP Vipul Chitalia sent to police custody, ED to issue LRs to over 15 countries

ED would be sending the LRs to countries like the United States, the UK, the UAE, Hong Kong, Singapore, South Africa and others.

Nirav Modi left India on 1 January, say agencies; Punjab National Bank detected the fraud on 3 January, says CEO Sunil Mehta
Business

Nirav Modi left India on 1 January, say agencies; Punjab National Bank detected the fraud on 3 January, says CEO Sunil Mehta

The PNB chief also said that his bank will never back any wrongdoing and it was PNB that has exposed the scam