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A New Bank Fraud: After PNB, City Union Bank Hit By Fraud

Days after the Rs 11,400 crore fraud at PNB shook the country, private sector City Union Bank today said it suffered three fraudulent remittances of nearly USD 2 million (about Rs 12.8 crore).

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Nirav Modi Scam: A Sequel To Regulatory Bodies’ Role?

Has Nirav Modi been rewarded with over Rs. 11000 crore scam for his role to constitute management of banks by proxy? If the arbitrary constitution of top management of Punjab National Bank and Bank of India in the recent past is a yardstick to gauge factors behind the scam, the answer will be in affirmative.

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India Seeks Stake In Iranian Oilfield, To Raise Oil Imports

India today sought from Iran a stake in a producing oil field and said it will raise crude oil import from Iran in the financial year beginning April, reversing the 25 per cent reduction it had done in the current fiscal.

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Lease contract on Chahbahar among 9 pacts inked after Indo-Iran talks

India today inked nine pacts with Iran, including one on getting operational control of the first part of the Chabahar port for 18 months, after Prime Minister Narendra Modi and Iranian President Hassan Rouhani held "substantive" talks to broad-base ties in oil, gas and banking sectors.

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Indian Banks Association Discusses PNB Fraud

The apex body of bankers today met here to discuss the Rs 11,400-crore scam at Punjab National Bank allegedly caused by the absconding diamond trader Nirav Modi and a clutch of his family-run companies.

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PNB Fraud: ED Continues Raids, Seizure Value Rises To Rs 5674 Crore

Raids by the ED in connection with its money laundering probe against diamond czar Nirav Modi and others in the alleged Rs 11,400-crore bank fraud continued for the third day today with the agency saying it seized Rs 25 crore worth diamonds and jewellery, taking the total seizure value to Rs 5,674 crore.

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