PNB scam: ED issues summons to Nirav Modi's father, sister
The fraud was committed during 2011-17 by illegally issuing Letters of Undertaking (LoUs) and Foreign Letters of Credit (FLCs).
May 18, 2018, 15:24 PM IST
PNB posts biggest ever quarterly loss of Rs 13,417 crore in Q4
The bank had reported a staggering standalone profit of Rs 261.90 crore in the fourth quarter of 2016-17.
May 15, 2018, 15:32 PM IST
Non-governmental expert agency to be appointed to review monthly performance of PSBs
The expert agency will be tasked to review the performance on basis of 60-parameters.
May 09, 2018, 18:19 PM IST
BoI has Rs 200 crore exposure in PNB scam, initiates proceedings: CEO
The Centre has also intervened in the bankruptcy proceedings of Nirav Modi firms in the US to protect the interests of PNB.
May 08, 2018, 17:40 PM IST
PNB says internal probe into $2 billion fraud ongoing; more heads could roll
PNB has so far suspended 21 officials and Mehta said the bank was carrying out an investigation to find out how the fraud - the biggest in Indian banking history - went unnoticed for more than half a decade.
Apr 12, 2018, 12:50 PM IST
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
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: CBI starts questioning senior officers of other Indian banks
In the last two days, CBI has questioned officers of GM and DGM rank of these banks who were in-charge of international operation and treasury.
Apr 02, 2018, 18:10 PM 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 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
Nirav Modi Fraud: PNB to honour bonafide LoU
PNB reassured its shareholders, customers, partners and employees on the bank's capability and capacity to come out of this situation.
Mar 16, 2018, 20:56 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
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
PNB to honour claims by banks, but with conditions: Reports
State Bank of India and three other state-run banks, Union Bank of India, UCO Bank and Allahabad Bank, are among lenders who have extended credit based on the LoUs issued by PNB that were later found to be fraudulent.
Mar 13, 2018, 12:02 PM IST
Congress continues attack over PNB fraud while RBI initiates special audit
Rattled by a spate of banking frauds, RBI has initiated a special audit of state-owned lenders with focus on trade financing activities, especially relating to the issuance of LoUs by them.
Mar 12, 2018, 13:48 PM IST
PNB scam: CBI issues fresh summon to Nirav Modi, Mehul Choksi
The agency had sent three summonses on February 19, 23 and 28 asking them to join the probe at the earliest.
Mar 09, 2018, 10:15 AM IST
PNB scam: CBI registers fresh Rs 321 crore case against Nirav Modi
This is the second CBI FIR in which Modi has been named.
Mar 08, 2018, 09:51 AM IST
Delhi HC serves notice to ED over Nirav Modi’s plea in PNB scam, says details 'sketchy'
Issuing a notice to the investigating authority, the Delhi High Court observed that it is not clear under what authority the ED went to search the properties.
Mar 07, 2018, 10:58 AM IST
