The Punjab National Bank`s fraudulent transactions worth Rs 11,300 crore should act as a strong trigger for the government for reducing its stake to less than 50 percent in the banks which should t
The large-scale fraud perpetrated on Punjab National Bank has hit its rating. Fitch Ratings has placed its Viability Rating of `bb` on Rating Watch Negative (RWN). The rating firm said it will reso
The Right to Information (RTI), used efficiently, could have helped activists and bankers expose irregularities much before they snowballed into full-fledged scams – the one at Punjab Nationa
Could RTI have saved banks from scams?
Diagnosing what ails India’s governance, Bihar chief minister Nitish Kumar used to name three units or offices that are so corrupted that they are beyond redemption: village patwaris, police
A top Reserve Bank of India official had waved the red flag, a year back, regarding the SWIFT messaging system. SWIFT was used in a fraud amounting to Rs 11,000 crore at a Punjab National Bank bran
Just days after the sensational Nirav Modi-Mehul Choksi episode, yet another bank fraud has come to light. A case has been registered against RP Infosystems and its directors in an alleged bank fra
All out efforts must be made by banks, regulators, government and India Inc to limit the collateral damage from the fraud in PNB, said Assocham. It cautioned over-reaction by the ban
As many as 18 people have so far been arrested in the Punjab National Bank fraud involving diamantaire Nirav Modi and his uncle Mehul Choksi, parliament was informed. As per Reserve
