New Delhi: The Enforcement Directorate (ED) on Sunday conducted searches at over 45 more locations in 15 cities across India in connection with the multi-crore Punjab National Bank (PNB) scam, an official said. The agency raided 10 places in Bengaluru, seven in Delhi, five each in Kolkata and Mumbai, four each in Chandigarh and Hyderabad, […]
Mumbai: Punjab National Bank, the second largest public sector bank in India, has detected a $1.8 billion fraud in one of its branches here, the bank said in a regulatory filing to the stock exchanges on Wednesday. “The bank has detected some fraudulent and unauthorised transactions (messages) in one of its branch in Mumbai for […]
New Delhi: Banking majors Punjab National Bank and IndusInd Bank have won the bid to provide national passenger carrier Air India with over Rs 3,000 crore government guarantee backed “Short Term Loans” (STLs). According to highly placed sources, the two banks will provide the STL to the airline. “These two banks (PNB and IndusInd Bank) have […]
New Delhi/Mumbai: The central government on Friday made major top management changes in several public sector banks (PSBs). The Appointments Committee of the Cabinet approved the proposed postings of new Managing Directors and CEOs at PSBs like Punjab National Bank (PNB), based on the recommendations by the Department of Financial Services. R. Subramaniakumar, an Executive […]
New Delhi: The CBI on Sunday registered cases against a Chandigarh-based company and three of its directors for cheating a bank in Punjab of over Rs 1,300 crore, officials said. The Central Bureau of Investigation also registered cases against a Jabalpur-based company and four of its directors for siphoning off nearly Rs 44 crore from […]
New Delhi: The CBI has claimed to have busted a major scam of over Rs 2,200 crore where 13 companies allegedly remitted the amount to foreign entities against bill payments of imports of only Rs 24.64 crore. The CBI has registered a case against Stelkon Infratel Limited (SIPL) and 12 other companies for allegedly making […]
The next time you go to a bank and find a pen worth the princely sum of Rs. 2 dangling from a string at the counter, you are bound to remember the Rs. 11, 500 crores that the nephew-uncle duo of Nirav Modi and Mehul Choksi managed to polish off neatly from the Punjab National […]
Institute of Banking Personnel Selection (IBPS) has released a recruitment notification for the positions of Probationary Officer/ Management Trainee under IBPS recruitment 2019-20. Interested and eligible candidates can apply for the positions from August 14, 2018 while the deadline to submit application form is September 4, 2018. Selection Process: The examination will be two tier […]
New Delhi: Fugitive diamantaire Nirav Modi, who is wanted by Indian agencies in the Rs 13,500 crore Punjab National Bank fraud case, has been spotted in London, a media report said. A video released by the UK’s The Telegraph newspaper showed Nirav Modi walking the London streets. He wore a changed look — with handle […]
New Delhi: Key accused in the PNB fraud case, Mehul Choksi on Monday said that the actual culprits of the Rs 14,000 crore fraud are roaming free and being protected, while he has been implicated without any evidence. In a statement, Choksi accused Debajyoti Dutta, proprietor of Rishika Financials and Gokulnath Shetty, Deputy Manager of […]
Mumbai: Financially-challenged Jet Airways has reportedly requested lenders for an interim funding of Rs 400 crore to stave off a temporary closure, even as its current operational fleet further shrunk to five aircraft. According to the Civil Aviation Secretary Pradeep Singh Kharola, the airline on Tuesday operated only five aircraft down from seven yesterday. Under […]
New Delhi: Key accused in the PNB fraud case, Mehul Choksi on Thursday said the state-run Punjab National Bank intentionally “destroyed” Gitanjali Gems, the luxury brand owned by him, with an aim to hide its “own wrongdoings”. He said that the company should not have been taken for liquidation and kept afloat instead, even if […]
New Delhi: State-run Punjab National Bank (PNB) on Tuesday posted a loss of Rs 4,750 crore in the fourth quarter of the last fiscal ended March, against the net profit of Rs 13,417 crore in the same period a year ago, the bank said. PNB slipped back into losses during the quarter in consideration after […]
New Delhi: Paytm Payments Bank has received a target of 501.16 crore digital transactions for the financial year 2019-20 from the Ministry of Electronics and Information Technology (MeitY), higher than the targets set for major banks including HDFC Bank, ICICI Bank and Punjab National Bank. In a statement, Paytm Payments Bank said it is only […]
Mumbai: The beleaguered public sector Punjab National Bank (PNB) has admitted to 1,142 big and small defaulters all over India who have defaulted a stupendous Rs 25,090.3 crore. Of these 1,142, the PNB has so far initiated recovery proceedings by filing suits against 1,108 defaulters to recover Rs 23,879.8 crore. However, no suits have been […]
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