Tag: Punjab National Bank

PNB fraud: ED raids over 45 locations in 15 cities

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, […]

  • Wednesday, 07 July 2021
Punjab National Bank spots $1.8 bn fraud at Mumbai branch

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 […]

  • Wednesday, 07 July 2021
PNB, IndusInd Bank to provide AI with over Rs 3,000 cr loans

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 […]

  • Tuesday, 06 July 2021
Indian Government makes top management changes in major PSBs

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 […]

  • Monday, 05 July 2021
CBI files cases against companies for defrauding banks

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 […]

  • Monday, 05 July 2021
CBI busts foreign remittance scam of over Rs 2,200 cr

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 […]

  • Monday, 28 June 2021
Op-Ed: PSU Banks’ Mantra: Punish The Needy, Reward The Greedy

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 […]

  • Thursday, 10 June 2021
IBPS recruitment 2019 exam notification
IBPS Recruitment 2019-20: Notification out for 4102 Probationary posts; Get Details Here

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 […]

  • Friday, 04 June 2021
Nirav Modi tracked down in London

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 […]

  • Monday, 03 May 2021
Mehul Choksi cries foul, claims real scam culprits free

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 […]

  • Sunday, 02 May 2021
Jet asks for Rs 400 cr; fleet down to 5 aircraft

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 […]

  • Sunday, 02 May 2021
PNB ruined Gitanjali Gems to hide its misdeeds: Choksi

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 […]

  • Saturday, 01 May 2021
PNB slips back into loss of Rs 4,750 crore in Q4

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 […]

  • Friday, 30 April 2021
Paytm Payments Bank ahead of major banks in digital transaction target

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 […]

  • Friday, 30 April 2021
PNB admits staggering loan defaults of Rs 25,000-crore

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 […]

  • Thursday, 29 April 2021