Fitch downgrades PNB's viability rating to BB-
According to a statement from the credit ratings agency, PNB`s other ratings are unaffected by this downgrade.
Apr 10, 2018, 17:48 PM IST
Provisional arrest of Nirav Modi from Hong Kong? China says basic law will be followed
Modi and Choksi had fled the country after the alleged bank fraud came to light.
Apr 09, 2018, 16:51 PM IST
SC to decide maintainability of plea for court-monitored probe into PNB scam
Attorney General K K Venugopal sought dismissal of the PIL seeking a court-monitored probe into the alleged scam saying multiple agencies are already probing the matter.
Apr 09, 2018, 13:44 PM IST
PNB scam: Mumbai court issues non-bailable warrant against Nirav Modi, Mehul Choksi
In February 2018, it had emerged that the fraudulently issued Letters of Undertaking (LoUs) from the Mumbai branch of PNB in favour of Hong Kong branches of Allahabad Bank and Axis Bank. These letters helped facilitate Rs 280.7 crore fraud by jewellery designer Nirav Modi among others.
Apr 08, 2018, 16:25 PM IST
PNB fraud case: CBI quizzes ex-deputy governor of RBI
The officials said he was questioned about the UPA government's 20:80 gold import scheme.
Apr 06, 2018, 17:27 PM IST
Nirav Modi in Hong Kong? Govt sends request for provisional arrest
A provisional arrest is made pending a formal extradition request.
Apr 06, 2018, 11:11 AM IST
Exporters may get relief soon as finance ministry asks RBI to review decision on LoU ban
RBI last month banned issuance of LoUs and Letters of Comfort (LoC), used extensively for trade finance, following the unearthing of Nirav Modi fraud case.
Apr 02, 2018, 12:49 PM IST
Banks write to RBI post LoU ban; seek relief for small and medium enterprises
Reserve Bank of India this month banned issuance of LoUs and Letters of Comfort (LoC), used extensively for trade finance, following the unearthing of Nirav Modi fraud case.
Mar 30, 2018, 14:39 PM IST
PNB scam: ED arrests Nirav Modi's close confidante Shyam Sunder Wadhwa under PMLA
The Enforcement Directorate (ED) on Wednesday arrested Shyam Sunder Wadhwa, Vice President, Finance, of Firestar Group and a close confidante of absconding diamantaire Nirav Modi under PMLA.
Mar 28, 2018, 13:37 PM IST
Enforcement Directorate analysing 120 shell firms in PNB fraud case: Govt
PNB has been defrauded of over Rs 12,700 crore by fraudulent use of LoUs allegedly by Nirav Modi and his associates.
Mar 23, 2018, 17:41 PM IST
To avoid future frauds, need to rethink PSB's ownership: Arvind Subramanian
He said that we need to have radical agenda for reform of the banking sector if we want these things not happen in future.
Mar 23, 2018, 00:02 AM IST
PNB scam: Mehul Choksi writes again to CBI, reiterates he can't come to India
The CBI had last week sent a to Nirav Modi and his uncle Choksi to join investigations immediately.
Mar 20, 2018, 09:52 AM IST
PNB scam fallout: Govt mulls proposal to collect passports details of directors
To seek passport details of all individuals, who have permitted to serve as directors on the board of companies.
Mar 18, 2018, 17:27 PM IST
PNB fraud: ED attaches Nirav Modi's 100 acres of land as crackdown intensifies
The properties sealed included 10 offices, including two in Lower Parel worth around Rs 80 crore, six houses and two flats in Pune.
Mar 18, 2018, 16:48 PM IST
Two bills passed amid din in Lok Sabha, proceedings remain paralysed
Opposition parties disrupted proceedings in the Lok Sabha for the ninth day on Thursday.
Mar 15, 2018, 15:34 PM IST
Parliament must debate bank frauds issue: Naidu
The Lok Sabha and Rajya Sabha have witnessed repeated adjournments during the second half of the Budget session that began on March 5, with opposition parties stalling proceedings over issues, including Punjab National Bank (PNB) fraud.
Mar 15, 2018, 15:28 PM IST
CBI registers fresh case related to Rs 9 crore fraud at PNB branch
The alleged embezzlement of around Rs 9.09 crore involved executives of a little-known firm called Chandri Paper and Allied Products.
Mar 15, 2018, 13:36 PM IST
RBI governor Urjit Patel breaks silence on PNB scam, seeks more power to deal with bank frauds
His comments come almost a month after India's second largest lender, state-owned Punjab National Bank was allegedly defrauded of around Rs 13,000 crore.
Mar 14, 2018, 21:54 PM IST
PNB scam: ED seeks Interpol arrest warrant against Nirav Modi, Mehul Choksi
The Enforcement Directorate (ED) on Wednesday Interpol arrest warrant against Nirav Modi and Mehul Choksi in PNB fraud case
Mar 14, 2018, 15:07 PM IST
