Punjab National Bank

Nirav Modi scam: UK court to deliver verdict today

Nirav Modi was arrested in March by Scotland Yard officers in London and face extradition charges as the "principal beneficiary" behind the Rs 13,000 crore Punjab National Bank fraud case.

5 days ago

Centre mulls merger of PNB, Union Bank and Bank of India

"We wouldn't like to wait for too long," says a a finance ministry official, commenting on the plan to merge Punjab National Bank, Union Bank and Bank of India.

May 1, 2019

Reliance Jio's fibre unit readies Rs 27,000 crore war chest to fund expansion

The funds will be used by the company to expand its data network and attract users from other companies and businesses.

Apr 15, 2019

Nirav Modi to be extradited to India? UK court issues arrest warrant against fugitive diamantaire

The court in London was responding to a request raised by the Enforcement Directorate for Nirav Modi's extradition in a money laundering case.

Mar 19, 2019

Two PNB executives sacked over lapses in $2 billion fraud

Nirav Modi and his uncle Mehul Choksi, who left India before the fraud was discovered, have denied the accusations.

Jan 20, 2019

India retains crown as 'world's fastest growing economy'; China a close second

Indian economy's roller-coaster ride during the year gone by was best captured by the GDP growth. In the first quarter of 2018-19 ending June 30, it grew at an impressive 8.2 percent, after 7.7 percent in the first three months of the year.

Jan 1, 2019

Ex-J&K minister Imran Ansari, family declared 'wilful defaulters' by PNB

The PNB has said in a notification that it would start recovery proceedings against Imran Ansari and his family.

Sep 28, 2018

Revival of 45 bankrupt companies will recover more than Rs 50,000 crore: IBBI chairperson

About 1,100 companies have been admitted to the Corporate Insolvency Resolution Process (CIRP) since the implementation of the Insolvency and Bankruptcy Code (IBC) in 2016.

Sep 24, 2018

CBI chargesheet against Mallya likely in a month; bank officials may be named accused

This would be first chargesheet in the case pertaining to loans of over Rs 6,000 crore given to Kingfisher by a consortium of 17 banks led by State Bank of India which alone had an exposure of Rs 1600 crore.

Sep 16, 2018

Who is Usha Ananthasubramanian? CBI and RBI to investigate sacked Allahabad Bank CEO's role in PNB fraud case

Usha Ananthasubramanian had served as the CEO of Punjab National Bank from August 2015 to May 2017.

Aug 14, 2018

PNB fraud case: Mehul Choksi given citizenship after NOC from India, says Antigua

Mehul Choksi and his nephew Nirav Modi are wanted in India for a Rs 13,500 crore fraud that they allegedly committed on the Punjab National Bank.

Aug 3, 2018

PNB fraud: Mehul Choksi spotted in Antigua

Mehul Choksi, who is wanted by the CBI in connection with the scam at Punjab National Bank, was recently spotted in Antigua in the Caribbean.

Jul 24, 2018

PNB scam accused Mehul Choksi fears lynching; moves court to cancel arrest warrant

Accused in the PNB fraud case, Mehul Choksi moved a Mumbai court to cancel his non-bailable warrant citing fears of being lynched if he returned to India. The application did not give his current location.

Jul 24, 2018

Punjab National Bank's turnaround on full throttle; recovers Rs 77 billion in Q1

The most encouraging part of this development is that the recovery has surpassed the total amount it recovered in the entire financial year 2017-18

Jul 16, 2018

Former RBI deputy governor KC Chakrabarty stopped from travelling abroad

KC Chakrabarty, who served as the RBI deputy governor from 2009 to 2014, was stopped when he was travelling to London from Mumbai's Chhatrapati Shivaji International Airport in May.

Jul 4, 2018

Rattled by the Nirav Modi scam, PNB to shut most operations at its Mumbai branch – report

PNB is closing nearly all its operations in a Mumbai branch that was at the heart of a $2 billion fraud, according to four sources with knowledge of the decision.

Jul 4, 2018

PNB fraud: Interpol issues red corner notice against fugitive diamond jeweller Nirav Modi

Interpol notice will now allow the agency to arrest the jeweller in all 192 member nations, as India looks to recover Rs 13,500 crore that the businessman scammed from Punjab National Bank.

Jul 3, 2018

Top executives at fraud-hit PNB misled RBI, CBI alleges

PNB, which is India's second-largest state-run bank, had said that two jewellery groups headed by Nirav Modi and his uncle Mehul Choksi had defrauded it of about $2.2 billion.

May 22, 2018

Fraud-hit PNB rapped for not making timely regulatory disclosures

PNB, India's second-largest state-run bank, said in February two jewellery groups had defrauded it of more than $2 billion by raising credit from overseas branches of other Indian banks via illegal guarantees issued by rogue PNB staff over several years.

May 18, 2018

Sensex falls as Karnataka election outcome disappoints

The Bharatiya Janata Party (BJP) won 104 seats, falling short of the 113 seats needed to form a government, while the opposition Congress clinched 78 seats.

May 16, 2018