Punjab National Bank | The Asian Age

Friday, Apr 19, 2024 | Last Update : 01:19 PM IST

Punjab National Bank Page-4

Babus pulled up for inaction on Nirav Modi’s bungalow

However, his bungalow has been constructed over an area of more than 1,000 sqms.

15 Aug 2018 1:02 AM

Centre dismisses former PNB MD

Ms. Ananthasubramanian was, three months back, divested of all her powers as MD of Allahabad Bank.

14 Aug 2018 12:31 AM

The government on Monday dismissed Usha Ananthasubramanian, former managing director of scam hit Punjab National Bank and Allahabad Bank, from service, according to an official notification.

Punjab National Bank scam: Govt dismisses former MD from service

She was to superannuate on Monday but has been dismissed from the service.

13 Aug 2018 5:52 PM

The Nirav Modi fraud-hit Punjab National Bank (PNB) led the pack with the largest amount of NPAs worth Rs 86,620 crore during 2017-18.

PSBs see GNPAs rise by Rs 1,54,470 crore in FY18

PNB lead the pack with bad loans rising about 56%.

13 Aug 2018 12:30 AM

State-run Punjab National Bank (PNB) on Wednesday said it is in negotiation with a few government departments, including income tax and central excise, to sell its erstwhile headquarters situated at the Bhikaji Cama Place in New Delhi.

PNB in talks with I-T, excise departments to sell erstwhile headquarters

The lender expects to raise nearly Rs 700-800 crore from the sale of its earlier head office in the national capital.

08 Aug 2018 7:32 PM

Markets regulator Sebi never gave any clean chit report on fugitive businessman Mehul Choksi to Antigua's citizenship-for-investment authority, a senior official said on Sunday.

Choksi-Nirav fraud: Sebi probe moves ahead, no clean chit to anyone

The regulator will now also consider sending the notices for Choksi to Antigua.

05 Aug 2018 3:40 PM

Antigua: Indian agencies gave Mehul Choksi ‘all-clear’

According to reports, Choksi fled India on January 4 this year and took oath of allegiance in Antigua on January 15.

04 Aug 2018 1:50 AM

India has asked Britain to extradite billionaire jeweller Nirav Modi, one of the main accused in the USD 2 billion loan fraud at state-run Punjab National Bank (PNB).

Govt sends extradition request to UK for loan fraud accused Nirav Modi

The international police agency Interpol last month issued a request to find and arrest Modi.

03 Aug 2018 1:55 PM

As part of the United States Bankruptcy Court's summon order to diamantaire Nirav Modi and his aides on Friday, the Punjab National Bank (PNB) has been made party to the sale of all of Modi's assets in the US.

Punjab National Bank to have claim on Nirav Modi's US assets

This is the first time that the MCA has intervened in any such foreign case pertaining to an Indian company.

28 Jul 2018 1:36 PM

Mehul Choksi is the prime accused in the PNB fraud

CBI asks Antigua to provide details of Choksi whereabouts

US suggesting that Choksi had travelled out of the US on an Antiguan passport, sources said.

27 Jul 2018 2:27 AM

The government's plan to infuse Rs 11,336 crore in five state-owned banks, including scam-hit PNB, is credit positive and will help these lenders meet the regulatory requirement, according to Moody's. (Photo: AFP)

Govt's capital infusion in 5 state-owned banks credit positive: Moody's

The Rs 11,336-crore capital infusion is part of the Rs 65,000 crore that the govt propose to infuse into the 21 public sector banks.

25 Jul 2018 2:01 PM

One of the main defendants in India’s largest bank fraud case made a court application on Monday for cancellation of an arrest warrant against him, citing fears for his life because of a growing number of mob lynchings in the country.

PNB fraud defendant Mehul Choksi fears 'mob lynching' in India

The recent trend of “mob lynching is growing”, Choksi’s lawyer said in the application.

24 Jul 2018 12:14 PM

Mehul Choksi seeks cancellation of NBW

He also spoke about his ill health and cited a case involving fugitive don Dawood Ibrahim versus CBI.

24 Jul 2018 2:13 AM

Punjab National Bank and Allahabad Bank may take a call on further action to be taken against two executive directors and the MD chargesheeted in the Rs 14,000 crore Nirav Modi fraud case, sources said.

Nirav Modi scam: PNB, Allahabad Bank to decide on further action

CBI filed charge sheet in May pointed involvement of top officials of banks.

22 Jul 2018 6:16 PM

Scam-hit PNB's recovery of over Rs 7,700 crore in bad loans during the first quarter in the current fiscal has surpassed the total amount it recovered in the entire 2017-18 financial year.

PNB's NPA recovery in first quarter tops FY 2018 level

The Insolvency and Bankruptcy Code (IBC) resolution process has greatly helped Punjab National Bank.

15 Jul 2018 3:48 PM

Punjab National Bank (PNB) is closing nearly all its operations in a Mumbai branch that was at the heart of a USD 2 billion fraud, according to four sources with knowledge of the decision.

PNB to shutter most operations at fraud-hit Mumbai branch, say sources

India’s second-largest state lender seeks to tighten controls and restore its reputation.

03 Jul 2018 5:48 PM

Nirav Modi group's exposure was not limited to only PNB's Brady House branch in Mumbai.

Nirav Modi availed loans from PNB Hong Kong, Dubai branches too: report

The 162-page report alleged that a group of employees at the Brady House branch issued fake letters of undertaking.

27 Jun 2018 12:52 PM

A USD 2 billion fraud at India’s Punjab National Bank (PNB) may have been orchestrated by a few rogue employees, but it escaped detection because of widespread risk-control and monitoring lapses in many areas of the bank, the bank’s own internal probe has found.

Lapses at many levels of bank led to huge PNB fraud, says report

The bank’s CEO Sunil Mehta told in April he had suspended 21 officials and “will not spare” others found involved in lapses.

20 Jun 2018 11:04 AM

PNB falls below RBI’s Capital Needs

The scam was perpetrated by way of fraudulent LoUs generated in the name of PNB.

14 Jun 2018 1:27 AM

Fraud-hit Punjab National Bank's capital adequacy has fallen short of the regulatory requirement of Reserve Bank of India due to unprecedented loss in the fourth quarter of 2017-18.

Scam-hit PNB's capital adequacy fall below regulatory requirement

At the end of March, 2018, total capital ratio as per the Basel- III requirement declined to 9.20 per cent.

13 Jun 2018 6:24 PM

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Mohan Guruswamy