Keyword : Punjab National Bank

Rs 11,000 crore fraud and an absconding billionaire

Investigating agencies are looking for Nirav Modi, a billionaire jeweller, after Punjab National Bank reported a massive fraud of Rs 11,000 crore at a branch in Mumbai. The s

PNB fraud: Why we need banking reforms

Billionaire jeweller Nirav Modi, whose properties are being searched after

Cut government stake below 50% in banks: Assocham

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 dirt in the diamond trade

The dazzling diamond trade has been hit hard by the Nirav Modi episode, which saw the billionaire jeweller flee India just before a massive fraud amounting to Rs 11,000 crore was detected at a Punj

PNB’s viability rating hit

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

How RTI could have prevented the PNB fraud

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?

Could RTI have saved banks from scams?

Modi post Modi: “It is a question of your leadership…”

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

PNB fraud: Former RBI deputy governor had warned about SWIFT

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

Why Virat Kohli, Priyanka Chopra should not quit as brand ambassadors

After becoming the brand ambassador for Punjab National Bank in 2016, cricket star Virat Kohli has appeared in advertisements promoting a variety of loans. Now that PNB is in deep soup over an alle

Deconstructing bank ‘scams’: Decline and fall

Modern banking in India is just about 250 years old. In the interim, we have witnessed dozens of crises, scams and scandals of varying degrees. In many cases, dozens, even more, banks failed. The r

Limit collateral damage from bank frauds: Assocham

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

PNB fraud: 18 arrested so far

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

Drop in diamond demand: Assocham survey

The PNB fraud involving Nirav Modi seems to have shaken the confidence of diamond jewellery buyers, especially from the unorganised jewellers, on purity concerns, resulting in drop in business in t

Blockchain and tackle

Could the Nirav Modi-Punjab National Bank embezzlement have been prevented? It’s a question lots of people are asking. With blockchain it would never have happened, say proponents of the tech

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