Nirav Modi Fraud

RBI vs Narendra Modi government: Public spat won’t help, but India’s best bet is not to mess with its central bank

Almost every RBI governor, be it Y V Reddy or D Subbarao, have pitched for central bank autonomy in public forums inviting the wrath of the government of the day.

PNB shareholders approve sell of 10 cr shares to employees; Rs 2,816 cr capital infusion by govt

The bank informed shareholders that PNB has been working steadily to get back into shape after being hit by the Nirav Modi fraud earlier this year.

Central Vigilance Commission directs banks, insurance companies to rotate employees in sensitive posts to check frauds

The move assumes significance as many big-ticket frauds have been reported recently from the banks.

PNB fraud case: NCLAT sets aside order giving relief to 5 directors of Nirav Modi firm, Firestar International

Earlier in February, allowing the plea of the government, the NCLT had injuncted all companies of Nirav Modi and individuals from removal, transfer or disposal of funds and properties until its further orders.

PNB fraud: Lender’s shares down over 3% after internal report blames procedural lapses for Rs 14,000 crore scam

PNB's market valuation went down by Rs 730.82 crore to Rs 23,023.18 crore

Finance minister Piyush Goyal to meet the heads of 13 public sector banks tomorrow

This is the first meeting with the heads of the PSBs after their annual financial result for 2017-18

RBI Governor Urjit Patel puts the ball back in the govt’s court; asks for more powers to oversee PSBs

The RBI governor Urjit Patel, who appeared before the Parliamentary Standing Committee of Finance, faced tough questions from lawmakers on bad loans, bank frauds, cash crunch and other issues

PNB fraud: CBI files first chargesheet in Nirav Modi scam, names former boss Usha Ananthasubramanian, senior officials

The CBI on Monday filed its first charge sheet in the country's largest financial scam worth over $2 billion in Punjab National Bank by billionaire jeweller Nirav Modi, detailing the alleged role of the bank's former chief Usha Ananthasubramanian

DRT orders: While Nirav Modis, Mehul Choksis escape net, people like Nirmala Prakash stand to lose their homes

Post-Nirav Modi scam, DRT is flooded with cases for adjudication and recovery by banks but a senior officer said on the condition of anonymity that the majority of big cases involving huge sums of money are being settled as per the whims and fancies of bank officials and big borrowers.

Nirav Modi fraud is bank's issue; will not seek govt support, says PNB MD Sunil Mehta

Punjab National Bank (PNB) will take care of problems emanating from Rs 13,000-crore fraud perpetrated by billionaire jeweller Nirav Modi on its own and will not seek any government's assistance, its managing director Sunil Mehta said