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
Billionaire jeweller Nirav Modi, whose properties are being searched after
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 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
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
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
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
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
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
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