PNB Scam: Nirav Modi's employees used code language to discuss LoUs and transactions
An LoU is a guarantee which is given by the issuing bank to Indian banks having branches abroad to grant short-term credit to the applicant.
Feb 21, 2018, 14:21 PM IST
PNB fraud: CBI arrests five senior executives of Nirav Modi and Mehul Choksi's companies
RBI said on Tuesday that it had 'confidentially' cautioned banks thrice since August 2016 on the risks arising from the malicious use of SWIFT system.
Feb 20, 2018, 22:25 PM IST
PNB fraud: Gili India director living in a Mumbai Chawl?
Zee Media reporters tracked down one of the directors of Gili India, Mihir Joshi, to Dahir locality in Mumbai.
Feb 20, 2018, 12:14 PM IST
You closed all options to recover dues by going public, says Nirav Modi in letter to PNB
In his letter, he said that the valuation of Firestar International and Firestar Diamond International stood at Rs 6,500 crore and pleaded the banks to allow him to sell the Firestar group.
Feb 19, 2018, 23:25 PM IST
PNB fraud: Income Tax Department attaches 7 properties of Mehul Choksi, Gitanjali group in Mumbai
In connection with Rs 11,400 crore fraud at state-run lender Punjab National Bank.
Feb 19, 2018, 21:57 PM IST
No response to ED summons sent to fugitive Nirav Modi yet, say reports
It is being investigated as to why the then deputy manager of PNB Gokulnath Shetty was not promoted for many years.
Feb 19, 2018, 18:07 PM IST
PNB fraud: After ASSOCHAM, now FICCI joins chorus for privatising state-run banks
FICCI called state-run banks privatisation is in the interest of creating 'a dynamic banking sector' in India.
Feb 19, 2018, 17:35 PM IST
7 engineering students had filed FIR against Mehul Choksi last year
A group of seven engineering graduates from Rajasthan Institute of Engineering and Technology in Jaipur were allegedly cheated by Choksi.
Feb 19, 2018, 10:53 AM IST
PNB fraud: ED, CBI widen probe; 200 shell firms, benami assets under scanner
ED suspects that the shell firms were being used to route funds, which were then parked as land, gold and gems under fake identities.
Feb 19, 2018, 00:00 AM IST
PNB fraud: Assocham urges Centre to cut stake in banks to below 50%
The industry body said that PSBs have to function on the lines of private sector lenders with a full sense of accountability to their shareholders.
Feb 18, 2018, 16:26 PM IST
After PNB, City Union Bank says hit by Rs 12.8 crore fraud caused by SWIFT system
Just like the PNB fraud, no entries of remittances were made in the ledgers of City Union Bank.
Feb 17, 2018, 22:35 PM IST
PNB fraud may cause a loss of whopping Rs 17,632 crore to banks, says Income Tax Department
As of March 2017, banks had extended loans and guarantees worth $2.74 billion to firms tied to billionaire jeweller Nirav Modi and his maternal uncle Mehul Choksi.
Feb 17, 2018, 20:44 PM IST
RBI denies giving instruction to PNB over Nirav Modi case
Nirav Modi, who was alleged to have carried out fraudulent transactions worth over Rs 11,400 crore in PNB.
Feb 17, 2018, 00:08 AM IST
Nirav Modi not part of PM's delegation to Davos, group photo an impromptu event: MEA
The MEA on Thursday suspended with immediate effect the passports of diamantaire Nirav Modi and his business partner Mehul Choksi for four weeks.
Government says blame UPA for PNB fraud, Congress advises 'homework' to BJP
The MEA on Friday suspended with immediate effect the passports of diamantaire Nirav Modi and his business partner Mehul Choksi for four weeks.
Sebi launches probe into trading, disclosure issues at PNB, Gitanjali Gems
The Sebi and stock exchanges have begun analysing the stock market trade details of all entities associated with Nirav Modi including Mehul Choksi.
Feb 16, 2018, 16:35 PM IST
PNB fraud: Nirav Modi, Mehul Choksi's passport suspended; 50 more firms to be raided
While Modi runs the jewellery brand chain under his name, Choksi is the promoter of Gitanjali Gems.
Feb 16, 2018, 14:40 PM IST
PNB fraud: CBI seeks revocation of passports of Nirav Modi, Mehul Choksi
Nirav Modi, who holds an Indian passport, left India on January 1.
Feb 16, 2018, 07:31 AM IST
How PNB fell victim to India's biggest bank fraud: All you need to know
The fraud, by far the biggest ever detected by an Indian bank, comes to light at a time when lenders, especially the state-run banks are hobbled by $147 bn in soured loans on their books.
Feb 15, 2018, 17:56 PM IST
