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The CBI alleged that the exchange had not fulfilled the criteria for acquiring the status.

CBI registers case against Vadodara-based firm for Rs 2,654 Cr fraud

CBI also launched searches at the official and residential premises of the company -- Diamond Power Infrastructure Ltd...

5 April 2018 5:25 PM IST

Banning of letters of undertaking (LoUs) and letters of comfort (LoCs) by the RBI as trade finance instruments is likely to reduce financial flexibility of importers, a Fitch group company said on Wednesday.

LoU ban to impact financial flexibility of importers

The central bank stopped banks from issuing the two instruments for trade credits for imports into India.

4 April 2018 7:32 PM IST

The government has asked PNB and probe agencies to share details of the Rs 13,000 crore scam with chartered accountants apex body ICAI, which is looking into the systemic issues related to the fraud, an official said.

Govt asks Punjab National Bank to share scam details with ICAI

The govt has asked PNB and probe agencies to share details of the Rs 13,000 crore scam with ICAI.

3 April 2018 6:59 PM IST

Punjab National Bank today said money of customers is safe and asserted that there would be zero tolerance towards unethical practices.

Customers' money safe with us, says Punjab National Bank

Urging customers not to believe in any rumours, the bank assured that they can withdraw or deposit their money anytime.

2 April 2018 6:13 PM IST

The government is preparing an action plan to recover revenues from high networth defaulters like Nirav Modi and Vijay Mallya who escaped the law and slipped out of the country.

Another setback for Mallya; UK court rejects permission to appeal

Vijay Mallya, who is separately undergoing extradition trial in UK court, had sought permission to appeal against HC...

26 July 2018 9:19 AM IST

Liquor baron Vijay Mallya has been in the UK since March 2016. (Photo: AP | File)

Vijay Mallya reaches out to authorities, willing to return to India:...

Fugitive businessman Mallya is said to have sent feelers to authorities that he would like to join legal process in...

25 July 2018 9:27 AM IST

Mehul Choksi is the prime accused in the PNB fraud

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 July 2018 12:14 PM IST

Nirav Modi and (right) Vijay Mallya, prominent white-collar scamsters in recent times

India approves bill to prosecute fugitive tycoons

Fugitive Economic Offenders Bill law, which will go to Rajya Sabha and the president in the coming days.

20 July 2018 8:54 AM IST

A USD 2 billion fraud at Indias 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 banks own internal probe has found.

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.

3 July 2018 5:48 PM IST

The total value of the freezed assets is Rs 56.21 crore.

Bank fraud: ED attaches over Rs 56-cr assets of Ahmedabad company

The agency issued a provisional order for attachment of 37 immovable properties of Sai Infosystems I (SIS) Ltd and...

9 Nov 2019 12:52 PM IST

Fully vindicated by PM Modi's statement: Vijay Mallya

The intervention follows a recent interview in which PM Modi said that recovering an amount more than what Mallya...

31 March 2019 4:24 PM IST

Nirav Modi and (right) Vijay Mallya, prominent white-collar scamsters in recent times

Nirav Modi, Vijay Mallya to share same jail cell! mocks UK judge

India informed the UK court that Mallya will be lodged in a two-storey building with high security barracks inside the...

30 March 2019 8:54 AM IST