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Total 350 results found. Search for [ PNB scam ]

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BusinessToday.In
July 18, 2018
The move comes after liquor baron Vijay Mallya, PNB scam accused diamantaire Nirav Modi and Mehul Choksi gave a slip to the authorities.


PTI
New Delhi, July 16, 2018
Last week, the bank and Carlyle Group, which owns over 32% in PNB Housing Finance, had announced their plans to sell at least 51% stake in the company.


Manu Kaushik
New Delhi, July 9, 2018
Business confidence slides in the first quarter of 2018/19 as businesses feel the pinch of GST and brace for policy inaction and higher interest rates, finds the latest Business Today-C fore Business Confidence Survey.


PTI
New Delhi, July 8, 2018
Dues from big wilful defaulters of Punjab National Bank fell by 0.87 per cent to Rs 15,354.52 crore on June 30 compared to previous month, the bank data has showed. Such borrowers had an outstanding of Rs 15,490 crore at the end of May 2018.


Munish Chandra Pandey
July 7, 2018
The Enforcement Directorate has already communicated with Hong Kong authorities and will approach other countries too. Both the Central Bureau of Investigation and the ED are using other channels as well to tighten the noose around the fraudster.


Virendrasingh Ghunawat
Mumbai, July 6, 2018
It's not only the diamantaires Nirav Modi and Mehul Choksi who conspired and cheated the Punjab National Bank (PNB) of Rs 13,600 crore loan amount. Mumbai's leading hawala operator Mohammad Farooq was also not far behind, a charge sheet filed by the Enforcement Directorate has revealed.


Virendrasingh Ghunawat
July 5, 2018
With the permission of special PMLA Court, the Enforcement Directorate (ED) has begun the extradition process against diamantaire Nirav Modi in $2-billion PNB loan fraud case under PMLA.


Virendrasingh Ghunawat
Mumbai, July 3, 2018
Choksi indulged in fund diversion to fulfil his luxurious needs. In 2013, he purchased a villa from Ziad Khalil Makkawi and Amal Boudhara Makkawi (UAE) and paid Rs 27 crore. To pay the EMI, Rs 15 lakh used to be transferred to Choksi's account from Gitanjali Venture DMCC in the guise of professional fees.


BusinessToday.In
July 2, 2018
The red notice is a request to locate and provisionally arrest an individual pending extradition.


PTI
July 1, 2018
Punjab National Bank MD Sunil Mehta has said there are \"positive developments\" in favour of the lender pertaining to bankruptcy case filed in the US by Nirav Modi's firm Firestar Diamond Inc.


BusinessToday.In
New Delhi, June 28, 2018
The Winsome Diamond Group had taken a loan of Rs 6,800 crore from a consortium of banks led by the Standard Chartered Bank. Like the recent PNB fraud, in this case too, the PNB had the highest exposure of Rs 1,800 crore.


BusinessToday.In
June 28, 2018
The Enforcement Directorate (ED) on Thursday filed chargesheet against absconding jewellery trader Mehul Choksi and 13 others in the Rs 14,000 crore PNB scam. Choksi, the owner of Gitanjali Group, was charged under PMLA for money laundering.


Ankit Kumar
June 27, 2018
According to an ED letter to Mumbai's regional passport office, those eight Indian nationals are either shareholders or directors of companies, associated with the absconding billionaire, in Hong Kong and Dubai.


BusinessToday.In
June 26, 2018
The PNB's internal probe has revealed that its former official Gokulnath Shetty cleared over 13,000 transactions of Rs 1 crore which was well beyond his authorised limit of Rs 25 lakh. Shetty's name had first cropped up when the PNB in February announced that it had detected fraudulent transactions at its Brady House Branch in Mumbai.


BusinessToday.In
New Delhi, June 25, 2018
The Indian Institutes of Management (IIM), XLRI Jamshedpur, and SPJIMR Mumbai are now focussing on teaching students the importance of ethics and corporate governance and corporate social responsibility.


BusinessToday.In
New Delhi, June 25, 2018
The 47-year-old has been on the run since January for masterminding the over $2 billion PNB fraud; he has since been spotted in Dubai, Hong Kong, Belgium, New York and London.


BusinessToday.In
New Delhi, June 21, 2018
Through the circular, RBI shed light on the inefficiencies of the Society for Worldwide Inter-bank Financial Telecommunication (SWIFT) mechanism, which is a global communication medium for banks.


BusinessToday.In
New Delhi, June 21, 2018
CEA job was the best; leaving due to \"very compelling reasons\", says Arvind SubramanianChief Economic Adviser Arvind Subramanian has decided to quit the job, with close to a year of his tenure remaining, and return to the US for \"very compelling reasons\" -- the second high profile exit from government in less than a year. He said he would leave the office within the next two months even though his contractual term was co-terminus with the government. Subramanian was appointed as CEA, finance ministry, on October 16, 2014 for a 3-year term and was given an extension last year. PNB's internal probe reveals systemic lapses far beyond a few rogue employees: ReportThe $2 billion fraud perpetuated by diamantaire Nirav Modi led to PNB posting the biggest quarterly loss in India's banking history last month. Making matters worse, the bank's own internal probe has reportedly revealed that the lapses that caused the drawn-out fraud go far beyond a few rogue employees. According to Reuters, a 162-page internal report, produced by four senior PNB officials tasked with probing the fraud, lays out how failings by 54 PNB officials allowed the fraud to be perpetrated. These officials range from clerks to foreign exchange managers, and auditors to heads of regional offices, and eight among them have already been charged by the Central Bureau of Investigation (CBI) for the roles they played. Only 25% of Indian adults use Internet, 80% don't use social media: Pew ResearchWith only 25% of adults using Internet, India is one of the countries with the lowest usage in the world. At par with India is Tanzania. Both these countries are way below the global median of 75%, as a new survey by Pew Research Center reveals. South Korea bagged the top spot with whopping 96% adults reportedly using the Internet. The survey conducted across 37 countries show that India as well as sub-Saharan Africa have a lot of catching up to do in terms of Internet usage. The survey also showed that younger generations, between 18 to 36 years of age, are more likely to use Internet than people above 37 years. That's revealed to be a global trend. Moreover, there's a marked difference between the percentages of usage between more and less educated people. In India, that difference is of 42 points. Oppo looks to strengthen position in premium smartphone segment  Chinese smartphone maker Oppo is looking to strengthen its presence in the premium smartphone space globally as it expands its operations in the European market, a top company official has said. The smartphone major unveiled here its flagship device 'FindX', priced at 999 euros (over Rs 78,000).Oppo ranks among the top five players in the Indian smartphone market in terms of shipment. FindX, which will compete with flagship devices from the stables of players like Apple, Samsung and Huawei, will be launched in the Indian market on July 12 and is expected to be available for sale from August.OYO enters Chinese market, starts ops in 26 cities  Hospitality firm OYO today said it has forayed in China as part of its overseas expansion plans. China is the company's third overseas market, after its successful venture into Malaysia and Nepal, where it has grown multi-fold. The country's tourism industry is on the cusp of booming and flourishing wherein it enjoys a strong influx of both domestic and international tourists. The company has started operations in 26 cities in China Baba Ramdev is hiring more than 50,000 people for PatanjaliPatanjali Ayurved Limited, India's fastest growing FMGC company, is all set to hire more than 50,000 youth across the country. The company, founded in 2006, started by selling ayurvedic products. However, since the past few years, the company has infiltrated different segments of the market which include telecom, food and beverages, technology, personal care, etc.The firm is currently hiring 40 to 50 salesmen in each district of the country to support the logistics of their expansion. The candidate will get the opportunity to work in various divisions of the firm including food, personal care, home care, etc. Additionally, they will also hire 50 to 100 youth in each district to act as home delivery representatives


BusinessToday.In
New Delhi, June 20, 2018
The probe report, along with dozens of pages of annexed bank records and internal e-mails, was presented by PNB officials to the bank's fraud risk management arm on April 5.


PTI
June 17, 2018
The major defaulters included Kudos Chemie - Rs 1,301.82 crore; Kingfisher Airlines Rs 597.44 crore; BBF Industries Rs 100.99 crore; ICSA (India) Ltd Rs 134.76 crore; Arvind Remedies Rs 158.16 crore and Indu Projects Ltd Rs 102.83 crore.


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