pnb fraud case


ED analysing 120 shell companies in PNB fraud case: Govt

Mar 23 2018

The ED is analysing 120 shell companies in connection with the Punjab National Bank fraud allegedly committed by Nirav Modi, the government said.

PNB scam: 11 accused get judicial custody till March 28

Mar 17 2018

A special CBI court remanded in judicial custody till March 28 the 11 accused arrested in connection with the multi-crore Punjab National Bank (PNB) fraud case.

Nirav Modi Fraud: PNB to honour bonafide LoUs

Mar 16 2018

PNB said it will honour all "bonafide" Letter of Undertakings, an instrument which was used by billionaire diamantaire Nirav Modi to defraud the bank of Rs 12,968 crore.

Nirav Modi Fraud: Banks expect PNB to honour LoUs

Mar 15 2018

Public sector banks want PNB to honour its commitment with regard to LoUs allegedly issued by it to Nirav Modi and its associates, said SBI Deputy MD M S Sastry.

Scrapping of LoUs by RBI will raise cost of credit: CII

Mar 14 2018

Reacting to RBI's decision to scrap the system of issuing LoUs and LoC, industry body CII said it would have a disruptive impact on the buyers credit market.

RBI stops use of LoUs for trade credit for imports

Mar 13 2018

RBI banned banks from issuing LoUs instruments used allegedly Nirav Modi and Mehul Choksi to defraud PNB of Rs nearly 13,000 cr in connivance of bank officials.

Nirav Modi got 1,213 fraudulent guarantees in six yrs: FM

Mar 13 2018

Jaitley said Nirav Modi obtained his first fraudulent guarantee from PNB's Brady House branch on March 10, 2011 and managed to get 1,212 more such guarantees in six yrs.

Jaitley silent on PNB scam to protect daughter: Rahul Gandhi

Mar 12 2018

Rahul Gandhi alleged that Arun Jaitley was silent on the Rs 12,600 crore PNB fraud case to "protect his lawyer daughter" and asked why her firm was not "raided".

RBI initiates special audit of PSBs with focus on trade finance

Mar 11 2018

RBI has initiated special audit of state-owned lenders with focus on trade financing activities, especially relating to issuance of LoUs by them, banking sources said.

Overreaction may cause huge loss of confidence: Assocham

Mar 11 2018

Assocham cautioned that overreaction by banks and the investigative agencies, in the backdrop of the PNB fraud, could hurt essential credit disbursement to the industry.

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