Indian Banking Sector

ASSOCHAM calls for privatising PSBs, says crisis in Indian banking sector should be used as an opportunity

The 'crisis' in Indian banking sector, particularly in the public sector space, should be used as an opportunity to privatise banks, ASSOCHAM said

Nirav Modi defrauding PNB highlights the rot in India's public sector banking system, say experts

Last month, Punjab National Bank, known as PNB, filed an initial criminal complaint with the country’s Central Bureau of Investigation (CBI) accusing celebrity jeweller Nirav Modi and others of defrauding the bank and causing it a loss of 2.8 billion Indian rupees (more than $43 million).