PNB News

PSBs’ second quarter provisions 1.5 times their operating profit

In the September quarter of FY19, the same set of public-sector banks (PSBs) had notched up a provisioning burden worth 1.4 times their operating profit.

PNB posts biggest ever quarterly loss of Rs 13,417 crore in Q4

In what has been dubbed as the biggest fraud in India's banking history, PNB in February disclosed two jeweller groups had defrauded it of more than $2 billion, raising credit overseas with fake guarantees issued by rogue PNB staff.


PNB scam: Non-bailable warrants issued against Nirav Modi, Mehul Choksi

A CBI official said they are questioning officers of overseas branches of Indian banks that extended alleged credit facilities on the basis of Letters of Understanding (LoUs) issued by PNB to firms affiliated to Nirav Modi and Mehul Choksi.

Lok Sabha proceedings disrupted for third day

The opposition has been protesting over various issues, including the PNB scam, since Monday when Parliament had reconvened after a month-long recess in the Budget session.

PNB fraud: Woman moves Bombay High Court against arrest after sunset

Kavita Mankikar, in her petition, claimed that she was arrested on February 20 at 8 pm by officials of the Central Bureau of Investigation (CBI), contrary to the provision of law which says a woman cannot be arrested after sunset.

Nirav Modi fraud case: Six sacks of papers ‘linked to PNB scam’ recovered from Mumbai chawl

The documents recovered from a room in Wadala include originals and photocopies of applications of over 1,000 LoUs and LCs raised by the bank for firms linked to Nirav Modi and Mehul Choksi.


PNB fraud case: Nirav Modi's auditor, Gitanjali group's director among four arrested by CBI

Meanwhile, the Directorate of Revenue Intelligence has sanctioned prosecution for Nirav Modi and his three firms including Firestar Diamond International, Firestar International Pvt Limited and Radhashir Jewellery Company Limited.

PNB fraud: Non-bailable warrants issued against Nirav Modi, Mehul Choksi

CBI said that Nirav Modi and Mehul Choksi have been evading attendance and not cooperating with the investigation despite summons issued to them.

PNB fraud: Internal chief auditor sent to CBI custody till March 14

According to the CBI, Mishra was supposed to verify daily transactions during his tenure and to report irregularities and to verify the same by protecting the interest of banks being an auditor.

PNB fraud: Crucial documents recovered from chawl, says CBI

CBI sources said that during interrogation it was revealed that some documents related to applications for letters of undertaking issued by PNB were hidden in a chawl in Wadala.

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Two-day bank strike: As services are hit across India, unions call it 'total success'

The two-day strike across the nation affected banking operations, and caused inconvenience to customers given it came during the month-end.