Nirav Modi's sister, her husband turn approver against him in PNB case

New Delhi/IBNS: Trouble could be mounting for fugitive diamond merchant Nirav Modi wanted in Punjab National Bank money laundering case as his sister and her husband have turned approver against him, said media reports.

PNB reports Rs 1,200 crore 'borrowing fraud' by Ahmedabad-based company

Mumbai/IBNS: Public sector lender Punjab National Bank has reported a fraud of Rs 1,203 crore by Ahmedabad-based Sintex Industries Pvt Ltd, which had run into trouble last year, said media reports.

After PNB scam, RBI discontinues LoUs and LoCs for trade credits

Mumbai, Mar 13 (IBNS): The Reserve Bank of India (RBI) on Tuesday discontinued the Letters of Undertaking (LoUs) and Letters of Comfort (LoCs) for trade credits which were responsible for the Punjab National Bank scam.

Limit collateral damage from bank frauds: ASSOCHAM

New Delhi, Mar 11 (IBNS): All out efforts must be made by banks, regulators, government and India Inc to limit the collateral damage from the alleged fraud in PNB, said the ASSOCHM on Sunday, cautioning over-reaction by the banks and the investigative agencies would hurt essential credit disbursement to the trade and industry and tamper the growth expectations.

Fraud investigation body summons top bankers Chanda Kochhar and Shikha Sharma in PNB scam case

Mumbai, Mar 6 (IBNS): The Serious Fraud Investigation Office (SFIO), on Tuesday, summoned ICICI bank MD and CEO Chanda Kochhar and Axis Bank chief Shikha Sharma in relation to the PNB scam case, according to media reports.

PNB Scam: ED attaches assets of Mehul Choksi

New Delhi, Mar 1 (IBNS): Taking stricter action in the Punjab National Bank scam case,  the Enforcement Directorate (ED) on Thursday attached 41 properties worth Rs 12.17 billion belonging to Mehul Choksiof the Gitanjali Group  and his company.

Let PNB fraud not halt business lending: ASSOCHAM

New Delhi, Feb 25 (IBNS): ASSOCHAM has cautioned against allowing the alleged fraud in the Punjab National Bank (PNB) to halt the entire system of corporate lending as demoralisation would set in among the top functionaries and employees of the state-owned banks, something the country can ill-afford at a time when the credit growth was about to recover and economy was set to grow at a higher pace.