PNB scam fallout: RBI bars banks from issuing LoUs, LoCs
The change in regulations may hit import dependent businesses and trade that are often reliant on LoUs to get bank guarantees.
Mar 14, 2018, 06:45 AM IST
Reform state-run banks, IMF tells India after PNB fraud
IMF said that banking reforms like insolvency code and recapitalisation will be ineffective unless governance standards are improved.
Mar 12, 2018, 22:51 PM IST
Nirav Modi de-registered 30 companies on his own between 2011-2017: Sources
The SFIO has sought information from Office of Registrar of Companies (RoCs) about the details of the deregistered companies.
Mar 12, 2018, 11:37 AM IST
PNB fraud: RBI initiates audit of PSBs with focus on trade finance, LoUs
Most of the big banking frauds which were unearthed in the recent past, including the one perpetuated by diamantaire Nirav Modi and his associates, pertain to trade finance.
Mar 11, 2018, 18:06 PM IST
PNB fraud overreaction may hugely hurt credit flow: Assocham
Last month, Assocham had said that the PNB fraud that has rocked the banking system should not halt the process of corporate lending.
Mar 11, 2018, 17:04 PM IST
How am I a threat to India, Mehul Choksi asks CBI; refuses to return citing health issues
Billionaire jeweller Nirav Modi, along with his uncle Mehul Choksi, have been accused of defrauding the PNB of Rs 12,600 crore, with Rs 1,300 crore being added to the fraud kitty on February 26.
Mar 08, 2018, 13:22 PM IST
PNB scam: In Parliament, Arun Jaitley may speak on banking fraud today
The opposition has attempted to corner the government on the PNB scam and has demanded any debate in Parliament must happen only if Prime Minister Narendra Modi is present.
Mar 07, 2018, 09:58 AM IST
PNB scam: Rahul Gandhi leads Congress' protest, accuses BJP of shielding Nirav Modi
Rahul Gandhi has questioned BJP for 'allowing' Nirav Modi to escape from the country before concrete action could be taken against him.
Mar 06, 2018, 11:00 AM IST
PNB Scam: CBI detains Gitanjali Group's Vipul Chitalia at Mumbai Airport
The CBI has to date arrested 18 persons in the case so far.
Mar 06, 2018, 10:50 AM IST
PNB scam: New evidence shows how RBI failed to detect red flags in banking system
In the three weeks since details of the alleged fraud was disclosed, authorities and the media have squarely blamed PNB and Nirav Modi.
Mar 05, 2018, 20:59 PM IST
PNB fraud: Vipul Ambani, others sent to 14-day judicial custody
Vipul Ambani, president (Finance) of Nirav Modi's Fire Star Diamond and five others accused in the PNB scam were sent to judicial custody till March 19.
Mar 05, 2018, 17:45 PM IST
Breaking 20-20: CBI arrests employees of Nirav Modi, Mehul Choksi
The Central Bureau of Investigations (CBI) has made more arrests in the $2 billion fraud case involving state lender Punjab National Bank (PNB), widening the investigation of the biggest banking fraud in the country’s history.
Mar 05, 2018, 10:30 AM IST
PNB fraud: DRI sanctions prosecution of Nirav Modi's firms under Customs Act, may face upto 7 years in jail
The DRI on Sunday said that Nirav Modi's firms are fit to be tried under Customs Act in connection with the PNB fraud.
Mar 05, 2018, 00:18 AM IST
PNB fraud: Here's how Rs 12,700 crore scam affected trade, financial activities
However, bankers feel that there will not be a complete freeze so that a genuine businessman's operations are affected.
Mar 04, 2018, 17:18 PM IST
Morning Breaking: Mumbai special court issues non bailable warrant against Nirav Modi, Mehul Choksi
A Special PMLA court in Mumbai issued non bailable warrant against Nirav Modi and Mehul Choksi in connection with (Punjab National Bank) PNB Fraud Case.
Mar 04, 2018, 08:14 AM IST
PNB fraud: 6 accused including PNB deputy manager Gokulnath Shetty sent to 14 days judicial custody
A special court in Mumbai has issued non-bailable warrants against diamond traders Nirav Modi, Mehul Choksi.
Mar 03, 2018, 16:24 PM IST
PNB fraud: Mumbai special PMLA court issues non bailable warrant against Nirav Modi, Mehul Choksi
A Special PMLA court in Mumbai on Saturday issued non bailable warrant against Nirav Modi and Mehul Choksi in connection with PNB Fraud Case.
Mar 03, 2018, 14:59 PM IST
PNB fraud: Bank's former chief auditor sent to CBI remand till March 14
CBI has so far arrested at least 14 people, eight from the bank and six from companies owned by billionaire jeweller Nirav Modi and Mehul Choksi.
Mar 02, 2018, 19:03 PM IST
When Nirav Modi wanted to become a music conductor
Modi comes from a family of diamond brokers in Antwerp, Belgium.
Mar 02, 2018, 07:02 AM IST
PNB fraud: ED attaches 41 properties of Mehul Choksi worth Rs 1217.20 crore
It includes 15 flats and 17 office premises in Mumbai, M/s Hyderabad Gems SEZ in AP, a shopping mall in Kolkata, farm house in Alibaug and 231 acres land in Maharashtra and Tamil Nadu.
Mar 01, 2018, 10:58 AM IST
