Nirav Modi Scam

RBI directive on data localisation: Though security agencies back move, govt may take a lenient view

The US companies are working on twin policies of threat and dialogue to wriggle out from the RBI mandatory regulation on data localisation.

Rahul Gandhi accuses BJP of ignoring farmers and poor, says PM's industrialist friends 'cleaned money from banks'

Rahul Gandhi levelled a slew of allegations at the BJP-led government, claiming it failed to provide relief to debt-saddled farmers while wreaking havoc on the economy with his demonetisation and GST moves.

Federal Bank gets RBI nod to open offices in Bahrain, Kuwait and Singapore; awaits local clearances

Federal Bank does not have any plans to increase its presence and will concentrate on the digital alternatives to help reach out to more customers

PNB fraud: CBI asks Interpol to issue red corner notice against jeweller Nirav Modi's brother Nishal, another

CBI asks Interpol to issue a RCN against Nirav Modi's brother Nishal and executive Subhash Parab in connection with its probe into the Rs 13,500 crore PNB fraud.

Nirav Modi scam fallout: Gems and jewellery industry asks bankers not to reduce credit limits in a white paper

Gems and jewellery industry is presenting a white paper on 11 May on challenges of financing to the diamond industry

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.

PNB sees 2% rise in wilful defaults to about Rs 15K cr in February; Kingfisher Airlines among major defaulters

PNB started listing the names of such wilful defaulters and the loans outstanding against them from last June.

PNB fraud case: Gitanjali Gems files petition in Delhi HC against ED searches; hearing today

The ED had issued a provisional order for attachment under the Prevention of Money Laundering Act.

PNB scam: Enforcement Directorate arrests close associate of Nirav Modi in money laundering probe

ED has filed two money laundering FIRs against Nirav Modi and his uncle and Gitanjali Gems promoter Mehul Choksi to probe the alleged fraud in Punjab National Bank

Reserve Bank's decision to ban LoUs is a knee-jerk reaction; can backfire badly, warn traders

Those running small and midsize firms rue that the RBI is asking banks to view businessmen, seeking letters of undertaking (LoU), with a doubting eye.