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Latest Articles in punjab national bank

PNB Scam: Govt Dismisses Former MD Usha Ananthasubramanian From Service

Ananthasubramanian had enjoyed leadership roles in PNB in two stints. She headed the bank between August 2015 and May 2017, before moving to Allahabad Bank. She was executive director at PNB from July 2011 to November 2013

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India To Inject USD 1.65 Billion In Five State Banks In About A Week: Government Source

PNB will get 28.16 billion INR, while Indian Overseas Bank, Corporation Bank, Andhra Bank and Allahabad Bank are the other four lenders in which the government will inject capital in the latest round

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Interpol Seeks Arrest Of Billionaire Jeweller Nirav Modi

The Central Bureau of Investigation (CBI) asked Interpol last month to issue a red notice to locate Modi, who has been charged in relation to India's biggest banking fraud

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PNB refuses to disclose details on over Rs 13,000 cr scam

State-run Punjab National Bank (PNB) has refused to disclose details of the audit or investigation that led to detection of over Rs 13,000 crore fraud at the company, citing a clause that bars any disclosure that can impede the process of investigating or apprehending the offenders.

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India's Small Businesses Find Credit In Short Supply After Mega-fraud

Several other small business owners told Reuters they too had struggled to get credit, with banks more wary of taking loan decisions based on past relationships with customers since the PNB fraud

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Fraud Hit PNB Posts Biggest Quarterly Loss Of Rs 13,417 Crore In Q4

Scam-hit Punjab National Bank today posted loss of Rs 13,416.91 crore for the January-March period, the biggest ever by any domestic lender, as bad loans surged.

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PNB Posts Biggest Ever Quarterly Loss Of Rs 13,417 Cr In Q4

The total income for the fourth quarter also declined to Rs 12,945.68 crore from Rs 14,989.33 crore in the year-ago period

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India Asks Hong Kong To Arrest Jeweller Nirav Modi In PNB Fraud Case

"The ministry has sought the provisional arrest of Nirav Deepak Modi by the government of the Hong Kong Special Administrative Region, People's Republic of China," junior foreign minister V.K. Singh told parliament on Thursday

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India State-Run Bank Shares Rally After RBI Eases Bankruptcy Provision Needs

The RBI move comes at a time when banks already battling near-record levels of soured loans are staring at an increase in stressed assets after a rule change announced in February

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Default Rates At Indian Companies Likely To Rise Further: ICRA

"The default rate could go up in fiscal year 2019 on higher interest cost, deteriorating business conditions, likely difficulty in getting bank funding given the challenges in the banking system," said Jitin Makkar, head of credit policy at ICRA, in a webinar

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PNB Uncovers More Fraud At Troubled Mumbai Branch

The newly uncovered scam raises fresh doubts about whether more such cases involving fraudulent guarantees lurk on the books of PNB, the second biggest state-run lender, or other government-owned Indian banks

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Sensex Subdued; Banks Down, Fertilisers Gain

Banking shares were subdued with revelations of yet another fraud at Punjab National Bank compounding the already-gloomy sentiment on public-sector lenders

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PNB Discloses USD 145 Million Additional Exposure In Fraud Probe

In a court filing on Tuesday, police said the Gitanjali group of companies controlled by jeweller Mehul Choksi allegedly defrauded PNB of 70.8 billion rupees ($1.09 billion). PNB had previously pegged its exposure to the Gitanjali companies at 61.38 billion rupees

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Andhra Bank Shares Slide Amid Fraud Probe Involving Ex-Director

Authorities have accused senior executives of Sterling and Garg of "criminal conspiracy" and falsifying accounts to allow Sterling to raise much larger loans than it would have been able to otherwise

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Punjab National Bank Says Scam May Cost Bank Nearly USD 2 Billion

The scale of the fraud, the biggest to hit an Indian lender, has stunned the country and put the lack of supervisory oversight by the central bank and auditors under the spotlight

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