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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.

PNB plans to sell non-core assets of over Rs 8,000 crore this fiscal

The bank has already sold some of the fixed assets and have realised Rs 400 crore from these assets.

15 Oct 2018 12:56 PM GMT

Punjab National Bank (PNB)will take care of problems emanating from Rs 13,000-crore fraud perpetrated by billionaire jeweller Nirav Modi on its own and will not seek any governments assistance, its managing director Sunil Mehta said.

Amalgamation not on cards; focus on internal consolidation: PNB MD

Post-merger, the asset size of the new entity would be over Rs 14.5 lakh crore.

7 Oct 2018 6:39 AM GMT

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.

Nirav Modi scam bygone, bank getting back on growth path: PNB MD

Nirav Modi and his uncle Mehul Choksi duped PNB of Rs 14,000 crore through issuance of fraudulent LoUs.

2 Oct 2018 12:08 PM GMT

PNB has suspended 10 officers over the scam and referred the matter to CBI for investigation. (Photo: PTI)

PNB fraud case: CBI questions MD, ED, 12 others

Refusing to give out any further details, the officials said the agency is also questioning the 12 accused arrested by...

24 Feb 2018 2:45 PM GMT

PNB has suspended 10 officers over the scam and referred the matter to CBI for investigation. (Photo: PTI)

PNB scam: Bank GM held after Vipul Ambani, 4 others of NiMo Jewellers

Nirav Modi sent a letter to the bank this week saying he owes less than half the amount claimed by the bank in the...

20 Feb 2018 4:01 PM GMT

Punjab National Bank MD and CEO Sunil Mehta

PNB needs 6 months for normalcy: Sunil Mehta

During a conference call with investors, he said that the bank had more than sufficient capital as mandate by...

16 Feb 2018 7:59 PM GMT

Punjab National Bank MD and CEO Sunil Mehta addresses Media in New Delhi. (Photo: Twitter | ANI)

Fraud started in 2011, we detected in Jan this year, says PNB chief

PNB chief Sunil Mehta said there were no solid proposals by Nirav Modi on repayment, 'got vague proposals'.

15 Feb 2018 9:27 AM GMT

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

Finance ministry hopeful of PNB rebounding in Q1

The ministry is keeping a tight watch on the bank's performance so as not to let the bank slip into further mess.

23 April 2018 6:49 AM GMT

Punjab National Bank (PNB)will take care of problems emanating from Rs 13,000-crore fraud perpetrated by billionaire jeweller Nirav Modi on its own and will not seek any governments assistance, its managing director Sunil Mehta said.

Nirav Modi fraud is bank's issue; will not seek govt support: PNB MD

The bank has enough resources and capability to meet the challenges posed by the fraud of this nature, he said.

9 April 2018 2:00 PM GMT

State-owned Punjab National Bank (PNB) has hired lawyers to represent itself in the bankruptcy proceedings of the US-based Firestar Diamond.

PNB hires lawyers in bankruptcy proceedings of Nirav Modi firm in US

Firestar Diamond approached a bankruptcy court in New York in February.

8 April 2018 10:31 AM GMT

Punjab National Bank (PNB) was hit by countrys biggest ever banking fraud of more than Rs 13,000 crore.

Will be out of Nirav Modi mess in 6 months: PNB MD Sunil Mehta

The bank has launched 'Mission Parivartan' to realign all business processes to meet present day requirements.

8 April 2018 9:13 AM GMT

Punjab National Bank (PNB)will take care of problems emanating from Rs 13,000-crore fraud perpetrated by billionaire jeweller Nirav Modi on its own and will not seek any governments assistance, its managing director Sunil Mehta said.

PNB CEO, Sunil Mehta: We are on our way towards recovery

Our recovery for the first three quarters is Rs 16000 crore, which is almost three times the recovery last year.

5 Feb 2019 10:10 AM GMT