PNB shares tank after lender detects another fraud
5 years, 6 months ago

PNB shares tank after lender detects another fraud

Live Mint  

Shares of Punjab National Bank slumped over 7% on Monday after the lender was hit by yet another fraud, this time by Bhushan Power & Steel Ltd. At 9.30 am, the stock was at ₹75.80 on BSE, down 5.57% from its previous close. On Saturday, the bank reported ₹3,805.15 crore fraud with exposure of ₹3,800 crore includes domestic exposure of ₹3,191 crore, overseas exposure of $49.71 million at the bank's Dubai branch and $38.51 million at its Hong Kong branch. PNB said the company misappropriated bank funds and manipulated books to raise funds from consortium lenders. The latest fraud at the state-owned bank comes at a time when it is recovering from the Nirav Modi scam, where it was defrauded of ₹11,400 crore.

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History of this topic

RBI Report: Bank frauds increased eight-fold in first half of current fiscal
2 weeks ago

RBI Report: Bank frauds increased eight-fold in first half of current fiscal

Deccan Chronicle  

New Delhi: Facing multiple challenges for the financial system in the country, the Reserve bank of India on Thursday said that the number of bank frauds witnessed a significant rise of eight-fold to Rs 21,367 crore in over 18,000 cases in the first half of the current fiscal. “The number of frauds during April-September stood at 18,461 involving Rs 21,367 …

PNB Share Price Today on 27-11-2024: PNB share price are down by -0.66%, Nifty up by 0.02%
1 month, 1 week ago

PNB Share Price Today on 27-11-2024: PNB share price are down by -0.66%, Nifty up by 0.02%

Live Mint  

PNB Share Price Today on 27-11-2024: At 27 Nov 11:28 today, PNB shares are trading at price ₹104.38, -0.66% down from the previous closing price. On the technical front, the stock is trading above the 5,10,20,50 days SMA & lower than the 100,300 day SMA. The stock will have support at 5,10,20,50 days SMA & face resistance at 100,300 days …

PNB Share Price Today on 26-11-2024: PNB share price are up by 0.58%, Nifty up by 0.02%
1 month, 2 weeks ago

PNB Share Price Today on 26-11-2024: PNB share price are up by 0.58%, Nifty up by 0.02%

Live Mint  

PNB Share Price Today on 26-11-2024: At 26 Nov 11:17 today, PNB shares are trading at price ₹104.7, 0.58% up from the previous closing price. On the technical front, the stock is trading above the 5,10,20,50 days SMA & lower than the 100,300 day SMA. The stock will have support at 5,10,20,50 days SMA & face resistance at 100,300 days …

PNB Share Price Today on 11-11-2024: PNB share price are up by 0.35%, Nifty down by -0.03%
1 month, 4 weeks ago

PNB Share Price Today on 11-11-2024: PNB share price are up by 0.35%, Nifty down by -0.03%

Live Mint  

PNB Share Price Today on 11-11-2024: At 11 Nov 16:01 today, PNB shares are trading at price ₹105.12, 0.35% up from the previous closing price. On the technical front, the stock is trading above the 10,20 days SMA & lower than the 5,50,100,300 day SMA. The stock will have support at 10,20 days SMA & face resistance at 5,50,100,300 days …

PNB fraud: ED attaches fugitive Nirav Modi’s properties, bank balance worth ₹29.75 crore
3 months, 4 weeks ago

PNB fraud: ED attaches fugitive Nirav Modi’s properties, bank balance worth ₹29.75 crore

Live Mint  

The Enforcement Directorate on Wednesday said it has provisionally attached “proceeds of crime” in the form of immovable properties and bank balances amounting to ₹29.75 crore in a case related to Punjab National Bank fraud by fugitive businessman Nirav Modi. In a statement, the ED said: “During course of investigation, assets worth ₹29.75 Crore of Nirav Modi & his group …

PNB fraud case: Fugitive Nirav Modi's assets worth ₹29.75 crore attached by ED
3 months, 4 weeks ago

PNB fraud case: Fugitive Nirav Modi's assets worth ₹29.75 crore attached by ED

Hindustan Times  

The Enforcement Directorate has provisionally attached assets worth ₹29.75 crore belonging to fugitive businessman Nirav Modi, as part of its ongoing investigation into the ₹6,498 crore Punjab National Bank fraud case, officials said on Wednesday. Nirav Modi, the mastermind behind the PNB scam, has been fighting extradition from the UK, where authorities arrested him in 2019. The scam, uncovered in …

Why Is Karnataka Govt Angry With SBI, PNB and Saying ‘Withdraw All Deposits’
4 months, 3 weeks ago

Why Is Karnataka Govt Angry With SBI, PNB and Saying ‘Withdraw All Deposits’

News 18  

Karnataka PNB SBI News: The Karnataka government has ordered all its departments, boards, corporations, public sector units and universities to withdraw all their deposits and investments in the State Bank of India and the Punjab National Bank and stop transacting any business with these institutions. The order came after the denial to redeem Rs 12 crore deposited by the Karnataka …

Karnataka govt orders state departments to close accounts with SBI and PNB; here’s why
4 months, 3 weeks ago

Karnataka govt orders state departments to close accounts with SBI and PNB; here’s why

Live Mint  

Karnataka Government has instructed all its departments, public sector units, universities, and subordinate organizations to cease all transactions with the State Bank of India and Punjab National Bank, as quoted by The Economic Times. The Finance department issued a circular to all department heads, highlighting that the Karnataka Industrial Areas Development Board was unable to recover a deposit from Punjab …

PNB share price rises 6% post Q1 results: Is there more upside likely?
5 months, 1 week ago

PNB share price rises 6% post Q1 results: Is there more upside likely?

Hindustan Times  

Punjab National Bank share price rose over 6% today post Q1 results in which the lender reported highest-ever quarterly standalone profit of ₹3,252 crore. PNB share price: The bank's share price continued to gain to intraday highs of ₹ 128.10. PNB share price opened at ₹124.86 today almost 4% higher than previous close of ₹119.95. Motilal Oswal Financial Services put …

PNB Housing share price falls 1% post Q2 results; here’s what experts say
1 year, 2 months ago

PNB Housing share price falls 1% post Q2 results; here’s what experts say

Live Mint  

PNB Housing Finance share price today: PNB Housing Finance share price fell 0.91 per cent to close at ₹711.75 on BSE on Wednesday, October 25, following the company's September quarter result. PNB Housing Finance share price hit its 52-week high of ₹784.40 on October 19 this year and its 52-week low of ₹340.68 on November 21 last year. PNB Housing …

PNB share price falls over 4% post Q2 business update; should you buy the stock?
1 year, 3 months ago

PNB share price falls over 4% post Q2 business update; should you buy the stock?

Live Mint  

PNB share price fell over 3 per cent in morning trade on NSE on Thursday, a day after the company reported its September quarter business update. Around 10:45 am, PNB share price traded 3.51 per cent lower at ₹76.95 on NSE. Data show that in the last year, PNB share price has surged over 113 per cent while the Nifty …

PNB share price hits 52-week high, rises 80% in six months. Do you own?
1 year, 3 months ago

PNB share price hits 52-week high, rises 80% in six months. Do you own?

Live Mint  

Punjab National Bank share price has been in uptrend since June 2023. PNB share price today opened upside and went on to hit new 52-week high of ₹81.35 apiece on NSE, logging around 40 per cent rise in YTD. PNB share price history In last one month, PNB share price has ascended from ₹62.50 to ₹81.35 apiece levels, delivering near …

CBI searches premises of firm in ₹3,847.58-crore cheating case
1 year, 3 months ago

CBI searches premises of firm in ₹3,847.58-crore cheating case

Hindustan Times  

The Central Bureau of Investigation on Saturday carried out searches at four premises linked to a city-based firm and four of its promoters, who are accused of cheating a consortium of banks, led by State Bank of India, of ₹3,847.58 crore. The bank has alleged that the firm, Unity Infraprojects Limited, allegedly diverted the loan money it had obtained from …

PNB moves court, seeks release of Nirav Modi’s properties worth ₹71.16 crore
1 year, 5 months ago

PNB moves court, seeks release of Nirav Modi’s properties worth ₹71.16 crore

Hindustan Times  

The Punjab National Bank on Wednesday filed a petition before the special PMLA court seeking release of fugitive diamond trader Nirav Modi’s properties worth ₹71.16 crore which had been attached by the Enforcement Directorate. PNB moves court, seeks release of Nirav Modi’s properties worth ₹ 71.16 crore The agency is probing the ₹13,850-crore loan fraud at the public sector bank. …

CBI books Raigad-based firm for ₹1,017.93-crore loss to bank consortium
1 year, 7 months ago

CBI books Raigad-based firm for ₹1,017.93-crore loss to bank consortium

Hindustan Times  

Mumbai: The Central Bureau of Investigation recently registered a case against a Raigad-based steel processing firm and its directors for allegedly causing a loss of ₹1,017.93 crore to a State Bank of India -led bank consortium in the form of unpaid loans. The SBI, which is the complainant in the case, alleged that the firm had siphoned off a portion …

Got message about Punjab Bank financial scheme? It is fake
1 year, 8 months ago

Got message about Punjab Bank financial scheme? It is fake

India Today  

Some Punjab National Bank customers are receiving a message related to a financial scheme, but the government has clearly deemed it fake. In a tweet by PIB, customers are receiving a fraudulent message claiming there's a reward worth Rs 6,000 under PNB 130th government financial scheme. The tweet states, "chance to win a Financial Subsidy worth Rs 6,000 from Punjab …

Fresh FIRs against Mehul Choksi in PNB bank loan fraud case
2 years ago

Fresh FIRs against Mehul Choksi in PNB bank loan fraud case

Op India  

The Central Bureau of Investigation on Friday filed three fresh FIRs against fugitive diamantaire Mehul Choksi and two jewellery brands, Nakshatra Brands Limited and Gitanjali Gems Limited. The FIRS were against Nakshatra Brands Ltd and Gitanjali Gems Ltd, Mehul Choksi, who is the managing director of Gitanjali Gems Ltd and guarantor for Nakshatra Brands Ltd; Dhanesh Vrajlal Sheth, director of …

CBI registers fresh FIRs against Mehul Choksi in Rs 6,000 crore fraud case
2 years ago

CBI registers fresh FIRs against Mehul Choksi in Rs 6,000 crore fraud case

India Today  

The Central Bureau of Investigation has registered two fresh FIRs against fugitive diamentaire Mehul Choksi and two jewellery brands--Nakshatra Brands Limited and Gitanjali Gems Limited--for defrauding a consortium of banks of over Rs 6,000 crore. CBI officials received complaints from Vijay Kumar Wadhwa, deputy general manager of the zonal office of the Punjab National Bank in Mumbai, against Nakshatra Brands …

Crime Branch Officials Still Unclear About Total Money Embezzled: Report - News18
2 years, 1 month ago

Crime Branch Officials Still Unclear About Total Money Embezzled: Report - News18

News 18  

As cases pile up in the multi-crore fraud at the Punjab National Bank in Kerala, the Kozhikode district Crime Branch team that has been entrusted with the probe in the scam is reportedly still unclear about the actual amount lost in the embezzlement. According to a report by The Hindu, three new cases have been registered in the case and …

Bank Frauds: Know India's 4 Biggest Financial Scams That Have Hit Lenders
2 years, 4 months ago

Bank Frauds: Know India's 4 Biggest Financial Scams That Have Hit Lenders

News 18  

The Enforcement Directorate recently attached assets worth Rs 415 crore of Maharashtra’s two builders in relation to the Yes Bank-DHFL bank loan fraud-linked money laundering case. The DHFL scam is India’s biggest financial fraud involving Rs 34,000 crore, in which a total of 17 banks have been defrauded by this home loan provider. Here’re four biggest financial scams in India: …

As India’s biggest bank fraud is unearthed, a look at the DHFL case and other big bank frauds in the country
2 years, 6 months ago

As India’s biggest bank fraud is unearthed, a look at the DHFL case and other big bank frauds in the country

Firstpost  

Former promoters of Dewan Housing Finance Ltd are among 13 accused who have been arrested for defrauding a consortium of 17 banks of Rs 34,615 crore The CBI has booked former CMD Kapil Wadhawan and director Dheeraj Wadhawan of Dewan Housing Finance Ltd in the “biggest” banking fraud in India. The audit of DHFL account books showed that the company …

18,000 crore recovered from Vijay Mallya, Nirav Modi, Mehul Choksi: Government
2 years, 10 months ago

18,000 crore recovered from Vijay Mallya, Nirav Modi, Mehul Choksi: Government

Hindustan Times  

Banks have recovered ₹18,000 crore from fugitives Vijay Mallya, Nirav Modi and Mehul Choksi, Solicitor General Tushar Mehta told the Supreme Court on Wednesday. Mehta told the top court bench, led by Justice AM Khanwilkar, that the value of cases registered under the Prevention of Money Laundering Act against Mallya, Modi, and Choksi is now ₹67,000 crore. Vijay Mallya is …

‘ABG Shipyard fraud detected faster than average time in such cases’ - FM
2 years, 10 months ago

‘ABG Shipyard fraud detected faster than average time in such cases’ - FM

The Hindu  

Finance Minister Nirmala Sitharaman said that the Opposition has put its foot on the proverbial axe by raising a hue and cry about the biggest banking fraud of ₹22,842 crore perpetrated on banks by ABG Shipyard, stressing that the account had turned into a non-performing asset in November 2013 while the UPA was in power. While it normally takes 52 …

ABG Shipyard Bank Fraud: Rahul Gandhi, Akhilesh Yadav Target Modi Govt
2 years, 10 months ago

ABG Shipyard Bank Fraud: Rahul Gandhi, Akhilesh Yadav Target Modi Govt

ABP News  

New Delhi: Taking a dig at Prime Minister Narendra Modi over the recent alleged bank fraud incidents in the country, Congress leader Rahul Gandhi on Sunday said such frauds have never taken place with people’s money in the history of Independent India. “Till now Rs 5,35,000 crore bank frauds have taken place during Modi era - never in 75 years …

PNB Account Holders Alert! You Need to Pay More For These Services From Next Week
3 years ago

PNB Account Holders Alert! You Need to Pay More For These Services From Next Week

News 18  

PNB Charges Hike: The Punjab National Bank has hiked its charges on a host of services, the lender has notified recently. Here are the areas where service fees pertaining to general bank operations have been increased by the Punjab National Bank: Charges for Non-Maintenance of QAB: As per the Punjab National Bank website, which has made available the new tariffs, …

RBI imposes penalty on PNB, ICICI Bank | Here's why
3 years ago

RBI imposes penalty on PNB, ICICI Bank | Here's why

India TV News  

Punjab National Bank and ICICI Bank were fined with a penalty of Rs. In a statement, the RBI said the Statutory Inspection for Supervisory Evaluation of Punjab National Bank was conducted by it with reference to its financial position as of March 31, 2019. In the case of the ICICI Bank, the RBI said the statutory inspection for supervisory evaluation …

PNB asks NCLAT to quash Jet Airways’ rescue plan
3 years, 4 months ago

PNB asks NCLAT to quash Jet Airways’ rescue plan

Live Mint  

New Delhi: India's Punjab National Bank on Thursday urged a tribunal to quash the rescue plan for defunct debt-laden Jet Airways, alleging irregularities in it, a move that risks delaying any return of the airline grounded two years ago. PNB, the court-appointed official in charge of Jet's revival, Ashish Chhawchharia, and a spokesperson for the consortium investing funds into the …

CBI books Amrapali Biotech, directors in alleged ₹48 crore bank fraud
3 years, 5 months ago

CBI books Amrapali Biotech, directors in alleged ₹48 crore bank fraud

Live Mint  

The Central Bureau of Investigation has filed an FIR against Amrapali Biotech and its directors over allegations of duping Punjab National Bank to the tune of ₹47.97 crore. The original bank of concern was Oriental Bank of Commerce, which was merged with Punjab National Bank, with effect from April 1, 2020, under the mass public-sector banks' consolidation. The Central Bureau …

Shares worth Rs 5800 crore sold, ED says 40 pc of loss in PNB, Mallya bank fraud cases recovered
3 years, 6 months ago

Shares worth Rs 5800 crore sold, ED says 40 pc of loss in PNB, Mallya bank fraud cases recovered

India TV News  

About 40 per cent of the money lost by banks in alleged frauds perpetrated by fugitive businessmen Nirav Modi, Mehul Choksi and Vijay Mallya has been recovered so far, the Enforcement Directorate said after the sale of attached shares worth over Rs 5,800 crore on Wednesday. "The quantum of the attached and seized assets represent 80.45 per cent of the …

PNB Scam: CBI Accuses Choksi of Destroying Evidence in New Chargesheet; Gitanjali's Ex-officials Named
3 years, 6 months ago

PNB Scam: CBI Accuses Choksi of Destroying Evidence in New Chargesheet; Gitanjali's Ex-officials Named

News 18  

The CBI has filed a chargesheet against the former international head of the Gitanjali Group of Companies, Sunil Verma, and others in connection with an alleged fraud in the PNB involving an amount of over Rs 7,080 crore, in which the promoter of the group, Mehul Choksi, is wanted by the agency. The supplementary chargesheet, filed more than three years …

PNB scam case: ED attaches assets worth Rs 14.45 crore of Mehul Choksi, Gitanjali Group
3 years, 11 months ago

PNB scam case: ED attaches assets worth Rs 14.45 crore of Mehul Choksi, Gitanjali Group

Firstpost  

New Delhi: The Enforcement Directorate has attached assets worth over Rs 14 crore belonging to the Gitanjali Group and its promoter and jeweller Mehul Choksi, one of the prime accused in the alleged over Rs 13,000 crore PNB loan fraud case. A provisional order for attachment has been issued under the Prevention of Money Laundering Act for the assets worth …

PNB Scam: Nirav Modi's Sister Moves Court to Get Non-bailable Warrants Cancelled
3 years, 11 months ago

PNB Scam: Nirav Modi's Sister Moves Court to Get Non-bailable Warrants Cancelled

News 18  

Mumbai: Fugitive diamond trader Nirav Modi's sister and her husband on Thursday approached a court here seeking cancellation of non-bailable warrants against them in the Punjab National Bank fraud case. Purvi Modi, Nirav Modi's younger sister, is a Belgian national while her husband Maiank Mehta is a British citizen. "Purvi Modi and her husband Maiank Mehta turned approver for assisting …

PNB Fraud Case: ED Attaches Assets Worth Over Rs 14 Crore Belonging to Mehul Choksi
3 years, 11 months ago

PNB Fraud Case: ED Attaches Assets Worth Over Rs 14 Crore Belonging to Mehul Choksi

News 18  

The Enforcement Directorate has attached assets worth over Rs 14 crore belonging to the Gitanjali Group and its promoter and jeweller Mehul Choksi, one of the prime accused in the alleged over Rs 13,000 crore PNB loan fraud case. Choksi, 61, is the maternal uncle of Nirav Modi who is the other prime accused in the alleged over USD 2 …

SBI, Punjab and Sind Bank allegedly cheated of over Rs 131 crores; CBI registers cases
4 years ago

SBI, Punjab and Sind Bank allegedly cheated of over Rs 131 crores; CBI registers cases

India TV News  

The State Bank of India and Punjab and Sind Bank have been allegedly cheated of over Rs 131 crores in two separate cases of fraud. The first case was registered on a complaint from SBI against a private company based in Gujarat's Ahmedabad and others including directors, public servants, and unknown others on the allegations of cheating the State Bank …

Bank Fraud: ED Says Accused Who Defrauded IOB Paid Managers' Flight, Hotel Bills
4 years ago

Bank Fraud: ED Says Accused Who Defrauded IOB Paid Managers' Flight, Hotel Bills

News 18  

Probing a Rs 299-crore Indian Overseas Bank loan fraud case, similar to the alleged USD 2 billion worth PNB swindle, the Enforcement Directorate has found that the accused “paid” for the air travel and hotel stay of a senior bank manager and his family as kickbacks. The central probe agency said “lapses” were also detected on the part of at …

SBI, PNB, Bank of Baroda among banks cheated of Rs 525 crore; CBI registers 2 cases
4 years ago

SBI, PNB, Bank of Baroda among banks cheated of Rs 525 crore; CBI registers 2 cases

India TV News  

In a major banking fraud, prominent banks in the country have been cheated of over 500 crore rupees. According to the complaints registered with the probe agency, a consortium of banks including the State Bank of India was duped of Rs 452.62 crores and Bank of Baroda of Rs 73 crores. The first case was registered on the complaint from …

Punjab and Sind Bank declares DHFL loan account as fraud
4 years, 4 months ago

Punjab and Sind Bank declares DHFL loan account as fraud

Live Mint  

Public sector lender Punjab and Sind Bank on Wednesday said it has declared its exposure of ₹815.44 crore to Dewan Housing Finance Corp Ltd as fraud. ".it is informed that a non-performing asset account -- Dewan Housing Finance Corporation Limited -- with outstanding dues of ₹815.44 crore has been declared as fraud and reported to RBI as per regulatory requirement. …

PNB Receives Rs 24 Crore from US Bankruptcy Proceedings of 3 Nirav Modi-promoted Firms: Govt
4 years, 4 months ago

PNB Receives Rs 24 Crore from US Bankruptcy Proceedings of 3 Nirav Modi-promoted Firms: Govt

News 18  

The Ministry of Corporate Affairs on Tuesday said Punjab National Bank has received over Rs 24 crore as the first tranche of recoveries from bankruptcy proceedings of three Nirav Modi-promoted companies in the US. In 2018, the lender had informed the ministry that three companies promoted by Nirav Modi — Firestar Diamond, Inc, A Jaffee, Inc and Fantasy, Inc had …

PNB Housing Finance board okays raising up to ₹1,800 cr
4 years, 4 months ago

PNB Housing Finance board okays raising up to ₹1,800 cr

Live Mint  

PNB Housing Finance on Wednesday said it will raise up to ₹1,800 crore equity capital through a preferential or rights issue. The decision was taken at its board meeting on Wednesday, PNB Housing Finance said in a regulatory filing. "The board of directors of PNB Housing Finance at its meeting held today i.e., August 19, 2020 has approved to raise …

PNB classifies its loan exposure to Reliance Home Finance as fraud
4 years, 5 months ago

PNB classifies its loan exposure to Reliance Home Finance as fraud

Live Mint  

Punjab National Bank has classified its exposure to Reliance Home Finance Ltd as a fraud account and communicated it to the Reserve Bank of India, three bankers aware of the development said. PNB made the decision following a forensic audit report that highlighted some Reliance Home Finance transactions with other companies in the same group, the bankers cited above said …

PNB plans to hit capital market in Q4
4 years, 6 months ago

PNB plans to hit capital market in Q4

India TV News  

The country’s second largest lender Punjab National Bank is planning to hit capital markets in the fourth quarter this fiscal to raise funds to help meet growth needs and regulatory requirements. At the moment, the bank is sufficiently capitalised with the capital adequacy ratio of 14.14 per cent at the end of March 2020, PNB Managing Director S S Mallikarjuna …

CBI books Delhi-based private firm for defrauding SBI, PNB of Rs 398 crore
4 years, 6 months ago

CBI books Delhi-based private firm for defrauding SBI, PNB of Rs 398 crore

India Today  

The Central Bureau of Investigation has conducted searches in the national capital in connection with a bank fraud case of Rs 398 core. The two biggest lenders of country, State Bank of India and Punjab National Bank, have been defrauded to the tune of Rs 398 crore, said the agency. On the complaint of SBI, the federal probe agency booked …

Sharp decline in PSB fraud amount, Centre tells Lok Sabha
4 years, 10 months ago

Sharp decline in PSB fraud amount, Centre tells Lok Sabha

The Hindu  

Comprehensive steps taken to curb fraud in public sector banks have resulted in a sharp decline in the amount involved, from ₹50,329 crore in 2013-14 to just ₹3,781 crore in the first three quarters of 2019-20, according to the Finance Ministry. An online searchable database of frauds reported by banks, in the form of Central Fraud Registry, has been set …

PNB fraud: CBI set to file fresh charges in $2-bn loan forgery case; Nirav Modi's kin, 3 employees likely to be booked
5 years, 1 month ago

PNB fraud: CBI set to file fresh charges in $2-bn loan forgery case; Nirav Modi's kin, 3 employees likely to be booked

Firstpost  

PNB in 2018 alleged that a few rogue employees had issued fake bank guarantees over several years to help jewellery groups—controlled by Modi and his uncle Mehul Choksi—raise funds in foreign credit. Mumbai: The Central Bureau of Investigation will soon file fresh charges in the $2 billion Punjab National Bank fraud case and detail how the alleged wrongdoing was carried …

PNB bank fraud: CBI set to file fresh charges in $2 billion scam, says report
5 years, 1 month ago

PNB bank fraud: CBI set to file fresh charges in $2 billion scam, says report

Live Mint  

The Central Bureau of Investigation will soon file fresh charges in the $2 billion Punjab National Bank fraud case and detail how the alleged wrongdoing was carried out, according to a source with direct knowledge of the matter. In the CBI's initial charges, billionaire jeweller Nirav Modi, 21 other people, including PNB officials, and three Modi companies were accused of …

ED attaches Bhushan Power & Steel's Odisha plant worth Rs 4,025 crore
5 years, 2 months ago

ED attaches Bhushan Power & Steel's Odisha plant worth Rs 4,025 crore

India Today  

The Enforcement Directorate on Saturday attached Bhushan Power and Steel Limited's properties worth Rs 4,025 crore, as per the order of the PMLA court. An amount of Rs 695.14 crore was introduced as the capital by Sanjay Singal and his family members in BPSL out of artificially generated Long Term Capital Gains by a diversion of bank loans fund of …

18 PSBs hit by 2,480 cases of fraud of ₹32,000 crore in Q1: RTI
5 years, 4 months ago

18 PSBs hit by 2,480 cases of fraud of ₹32,000 crore in Q1: RTI

Live Mint  

Indore: A total of 2,480 cases of fraud involving a huge sum of ₹31,898.63 crore rattled 18 public sector banks in the first quarter of this fiscal, an RTI query has revealed. Punjab National Bank stood third in the list with 99 sham cases worth ₹2,526.55 crore. A total of 75 cases of fraud involving ₹2,297.05 crore were reported in …

Bank fraud touches Rs 71,543 cr in 2018-19: RBI annual report
5 years, 4 months ago

Bank fraud touches Rs 71,543 cr in 2018-19: RBI annual report

India TV News  

The number of cases of frauds reported by banks saw a jump of 15 per cent year-on-year basis in 2018-19, with the amount involved increasing by 73.8 per cent in the year, RBI's annual report showed. In FY19, banking sector reported 6,801 frauds involving Rs 71,542.93 crore as against 5,916 cases involving Rs 41,167.04 crore reported in 2017-18. In the …

RBI annual report: Bank fraud touches Rs 71,543 cr in 2018-19, records 74% jump from previous year
5 years, 4 months ago

RBI annual report: Bank fraud touches Rs 71,543 cr in 2018-19, records 74% jump from previous year

Firstpost  

Mumbai: The number of cases of frauds reported by banks saw a jump of 15 percent year-on-year basis in 2018-19, with the amount involved increasing by 73.8 percent in the year, RBI’s annual report showed. In FY19, banking sector reported 6,801 frauds involving Rs 71,542.93 crore as against 5,916 cases involving Rs 41,167.04 crore reported in 2017-18. In the reporting …

PNB recovers Rs 278 cr as penalty from poor account holders
5 years, 5 months ago

PNB recovers Rs 278 cr as penalty from poor account holders

India TV News  

India's one of the largest public sector bank, Punjab National Bank has collected Rs 278.66 crore from the poor account holders as penalty in the financial year 2018-19 for not maintaining the minimum balance. This came to light after an RTI activist in Madhya Pradesh's Neemuch district, Chandrashekhar Gaur sought information from the PNB on the amount recovered from the …

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