Pnb Fraud | The Asian Age

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Above measure assumes significance for cases where big and wilful defaulters of bank loans flee the country smelling action against them to repay their dues. (Photo: Representational/PTI)

PSBs asked to get passport details for loans of Rs 50 cr and above: Govt

In Oct 2017, govt announced recapitalisation of PSBs to tune of Rs 2.11 lakh cr over current and next financial year.

29 Mar 2018 12:00 PM

Union Bank did not respond to requests for comment from either the stock exchange or Reuters.

Union Bank of India shares slump after lender makes fraud complaint

Union Bank shares were trading 8.3 per cent down at 86.85 rupees.

23 Mar 2018 1:37 PM

India has compiled a list of 91 people it is considering detaining from flying out of the country. (Photo: Facebook)

After PNB fraud, India takes steps to prevent defaulters from flying abroad

Under the new rules, banks will have to file for insolvency proceedings against loan defaulters with Rs 2,000 crore or more.

21 Mar 2018 5:44 PM

Recapitalisation of the public sector banking will help the banks make large haircuts on delinquent loans while still meeting the regulatory capital requirements. (Photo: File)

Banking sector could witness turnaround in FY20: S&P

Demonetisation and GST implementation hurdles and continuing global recovery provide the stimuli to the country's trade and GDP growth

21 Mar 2018 5:29 PM

India regained its status as the world’s fastest growing major economy in the October-December quarter, as it grew 7.2 per cent. (Photo: File)

PNB fraud: Goldman downgrades India's economic growth forecasts

Goldman Sachs lowered its real GDP forecast on India for year to March 2019 to 7.6 per cent from 8 per cent earlier.

20 Mar 2018 3:53 PM

Besides Dubey, the chargesheet has been filed against five officials of the Canara Bank and a Delhi-based private company Occasions Silver Private limited and its two Directors Kapil Gupta and RK Gupta. (Photo: PTI)

CBI files chargesheet against former Canara Bank official over loan default

The accused allegedly cheated the Canara Bank to the tune of approximately Rs 68.38 crore.

19 Mar 2018 8:20 PM

Govt opposes monitoring of PNB scam probe by Supreme Court

The petitioner cited several instances where the farmers had to either commit suicide or face the wrath of the bank officials.

17 Mar 2018 1:41 AM

The RBI notification further said that Letters of Credit and Bank Guarantees for trade credits for imports into India may continue to be issued subject to compliance with the provisions. (Photo: File)

After PNB fraud, RBI bans use of Letter of Undertakings for overseas credit

RBI said the decision to discontinue practice of LoUs and LoCs for trade finance comes into force with immediate effect.

13 Mar 2018 7:17 PM

Reserve Bank of India wrote to all banks a week ago asking for details of the LoUs they had written. (Photo: AFP)

RBI turns up heat on lenders after USD 2 billion loan fraud

RBI had asked banks to connect SWIFT interbank messaging system with their core banking software by April 30.

10 Mar 2018 10:38 AM

In monetary terms PNB was followed by Bank of India, which lost 27.7 billion rupees, and State Bank of India that lost 24.2 billion rupees.

Before mega scam, PNB lost USD 431 mn to fraud last fiscal year

Punjab National Bank alone reported 158 cases of fraud in 2016-17.

10 Mar 2018 10:24 AM

Bank sought 100 per cent cash margins for issuing LoUs for raising buyers' credit, which was contested by the firms saying they had availed of the facility from as early as 2010. (Photo: PTI)

PNB may be given 1 year to provision against Rs 12,646 cr fraud

Bank has written a letter to banking sector regulator seeking its opinion on making provisions for fraud.

09 Mar 2018 11:29 AM

The Lok Sabha failed to transact any legislative business for the fourth consecutive day as members from parties, including NDA ally TDP, AIADMK and TMC, continued their protests on various issues. (Photo: File/PTI)

Lok Sabha adjourned for 4th day in a row amidst Opposition protest

TDP was demanding special status for Andhra Pradesh while AIADMK sought immediate setting up of Cauvery River Management Board.

08 Mar 2018 2:47 PM

RBI is in charge of supervising lenders and meant to act as the bottom-line guarantor that the banking system is sound.

Missed warnings - How watchdogs failed to spot USD 2 bn PNB fraud

RBI set a April 30 deadline for integrating banks’ internal software and SWIFT.

06 Mar 2018 12:26 PM

The chief executive officers of ICICI and Axis banks, Chanda Kochhar and Shikha Sharma, were summoned for questioning Tuesday in the Nirav Modi-Mehul Choksi perpetrated PNB fraud. (Photo: PTI | File)

PNB fraud: Top bankers Chanda Kochhar, Shikha Sharma summoned

ICICI Bank led a consortium of 31 banks that lent money to Mehul Choksi’s Gitanjali group.

06 Mar 2018 11:47 AM

Noisy protests continued amid speaker PJ Kurien's remarks that 'You are all agitated on separate issues. I know each subject is very important.' (Photo: File)

RS adjourned amid PNB scam uproar, Oppn demands Nirav Modi's return

RS was adjourned amid uproar over Rs 12,700-cr PNB scam and other issues including TDP demanding special package for AP.

05 Mar 2018 4:19 PM

Trinamool Congress members too were seeking to raise the same matter Nirav Modi is the alleged kingpin of the Rs 12,700-crore fraud at Punjab National Bank. (Photo: ANI | Twitter)

LS adjourned as Oppn slams PM silence on PNB scam, AP gets special status

Congress members trooped into the Well with placards demanding a reply from the PM on Nirav Modi's whereabouts.

05 Mar 2018 2:18 PM

Choksi and Modi got issued LoUs and FLCs of Rs 12,636 crore in favour of foreign branches of Indian banks based on fraudulent claims.

Gitanjali Gems falls 5 per cent to hit 52-week low

Gitanjali Gems has lost as much as 70 per cent since February 14, the day the PNB fraud came to light.

05 Mar 2018 12:35 PM

Opposition parties aim to seek answers from Prime Minister Narendra Modi on how the multi-crore Punjab National Bank (PNB) fraud and other banking scams took place under his watch and how the government failed to stop them. (Photo: PTI | File)

Oppn to corner Govt over bank frauds, 'personal vendetta' as parl resumes

The Lok Sabha and Rajya Sabha meets on Monday after a month-long recess in the session.

05 Mar 2018 11:52 AM

Four more arrested in PNB fraud

The ED has seized diamonds and other valuables to the tune of around Rs 5,700 crore from Modi’s jewellery outlets.

05 Mar 2018 1:36 AM

Another ex-PNB official arrested

The agency arrested the retired second senior-level internal auditor of the bank for allegedly overlooking the irregularities during the audit.

03 Mar 2018 1:38 AM

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Sunil Gatade