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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.

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...

20 Jun 2018 11:04 AM IST

The three firms of diamantaire Nirav Modi were issued LoUs worth Rs 6,498 crore.

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

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 IST

MD Usha Ananthasubramanian

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 IST

Donald Trump ordered the creation of a sixth branch. (Photo: Pixabay)

Donald Trump predicts market crash if he's impeached

The Manafort conviction was the first case sent to trial by special prosecutor Robert Muller probing Russian meddling in...

24 Aug 2018 3:02 AM IST

3 Nirav Modi-linked US firms 'directly involved' in bank fraud: report

Firestar Chief Executive Officer Mihir Bhansali and A Jaffe CFO Ajay Gandhi were involved in fraudulent transactions.

27 Aug 2018 11:09 AM IST

Union Bank of India Ltd reported on Thursday a 25.83 billion-rupee net loss for its fourth quarter.

RBI fines Union Bank Rs 1 crore for delay in fraud detection,...

However, the bank said that the amount of the penalty is not material considering the size of the bank.

7 Sept 2018 3:16 PM IST

In a significant development in the ongoing war against bank fraud, Dubai authorities have reportedly arrested Nitin Sandesara, one of the co-accused in the Sterling Biotech loan fraud case amounting to Rs 5,383 crore.

CBI has no input on fugitive businessman Nitin Sandesara: sources

The businessman and his brother Chetan Sandesara fled from the country last year along with family members.

25 Sept 2018 12:15 PM IST

The other banks which reported large number of frauds to the apex bank during the period include Axis Bank (189), Bank of Baroda (176) and Citibank (150). (Representational Image)

Assam: Cops arrest banker for Rs 3.5 crore fraud

Some bankers said that bank executives are forced to bring investment and given assignment to achieve target to protect...

8 Aug 2017 6:52 AM IST

Three men Jamirul Hasan, Mohammed Sabir and Mohammed Chand Alam were arrested by the CID from a hotel in Kidderpore with 69 rounds of ammunitions. (Representational image)

West Bengal: Three held for cheating man of Rs 74,000

The arrested trio called up the victim, Sushil Chanda Mahato, and asked him for his bank details, posing as officials.

3 July 2017 4:26 AM IST

All your credit card use reflects in your credit history which is shared by card and loan companies with credit rating agencies such as Cibil and Experian.

RBI's bid to protect consumers: here's your way to safe e-banking

Here is what you should know when you notice unauthorised transactions from your account.

7 July 2017 1:27 PM IST

There are allegation that from November 15 to November 18, the bank manager had issued 149 demand drafts for amounts less than Rs 50,000 in favour of a Pune-based finance company in violation of RBI guidelines.

Report bank fraud in 3 days, suffer no losses: RBI

RBI said revised directions are being issued amidst recent surge in customer grievances due to fraudulent transactions,

7 July 2017 10:06 AM IST

Representational Image. (Photo: File)

Noida: Army officer's wife duped by fake bank official

The culprit told her that her credit cards are being blocked and asked for pin number and other details. She gave the...

22 March 2017 5:02 PM IST