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Latest Articles in PNB Fraud

Interpol issues red corner notice against Nirav Modi's wife, Ami on ED's request

Interpol issues red corner notice against Nirav Modi's wife, Ami on ED's request

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PNB Fraud: ED Attaches Rs 637 Cr Assets Of Nirav Modi, Family In 5 Countries

The assets have been attached as part of five separate orders issued by the central probe agency under the Prevention of Money Laundering Act

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Mehul Choksi's 41 Properties Worth Rs. 1,210 Crore are Money Laundering Assets: PMLA Authority

PMLA Authority says that ED must continue with attaching Mehul Choksi's properties as money laundering assets in connection with the $2 Billion alleged fraud at Mumbai branch of Punjab National Bank.

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PNB Fraud: CBI Court Grants Bail To Ex-MD Usha Ananthasubramanian

Earlier this month, the court had taken cognisance of the sanction granted by the President to prosecute Ananthasubramanian in the case

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India Sends Extradition Request To UK For Fugitive Billionaire Nirav Modi

The PNB fraud, dubbed as biggest in India's banking history, exposed shortcomings in the management of PNB and undermined confidence in India's state-run banking sector, which controls over two-thirds of the nation's bank assets

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Lapses At Many Levels Of Bank Led To Huge PNB Fraud, Internal Report Shows

The report said that it is "incomprehensible" that branch staff did not notice the fraud being committed

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PNB Fraud: ED Files Charge Sheet Against Nirav Modi, Associates

It is expected that the agency would file a second charge sheet against Modi's uncle and jeweller Mehul Choksi and his businesses

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PNB-Nirav Modi Isn't A One-off Case

Better late than never, apt time for banking sector reforms is now

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Union Bank Of India Shares Slump After Lender Makes Fraud Complaint

The case comes after a more-than $2 billion fraud in state-run Punjab National Bank, dubbed the biggest bank fraud in India's history, triggered scrutiny of all soured bank loans for any sign of wrongdoing

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PNB Woes Spur Goldman To Downgrade India's Economic Growth Forecasts

Goldman Sachs lowered its real gross domestic product (GDP) forecast on India for the year to March 2019 to 7.6 percent from 8 percent earlier

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Anatomy Of A Scam: Should PNB Really Surprise Us?

Good judgement comes from experience, but experience comes from bad judgement. We have enough experience in scams

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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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RBI Clamps Down On Credit Guarantees As PNB Fraud Swells

The bank has accused two jewellery groups - one controlled by diamond tycoon Nirav Modi and the other by his uncle, Mehul Choksi - of colluding with rogue bank employees to secure credit from overseas branches of Indian banks using fraudulently issued guarantees largely in the form of letters of undertaking

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Shares Of State-run Banks Rise On PNB Compensation Hopes, Easing Rate Woes

The bank's shares surged as much as 15 percent, its biggest intra-day percentage gain since 25 October. It was the top percentage gainer on the Nifty PSU Bank index that rose as much as 5.7 percent.

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PNB To Honour Claims By Banks, But With Conditions

Both Modi and Choksi have denied wrongdoing, and so have two key accused PNB employees in the case that has been dubbed as India's largest ever bank fraud

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