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Total 15 results found. Search for [ SWIFT message ]

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September 5, 2018
Banks are yet to pay heed, and hence the regulator has reportedly issued show-cause letters to several banks.

May 11, 2018

March 23, 2018
March 15, 2018
The PNB is at the centre of India's biggest banking scam where two of its officials allegedly issued as many as 1,213 LoUs fraudulently for the group of companies belonging to billionaire jewellers Nirav Modi and Mehul Choksi.

New Delhi, March 15, 2018
All public sector banks have verified LoUs issued by them, and thereare no other unauthorised authority letters except for those issued byPunjab National Bank, a senior SBI official said here on Thursday.

New Delhi, March 13, 2018
The RBI's decision will be applicable with immediate effect. The LoUs and LoCs issued by PNB were allegedly misused by diamond merchant Nirav Modi and his uncle Mehul Choksi to defraud the state-owned bank of Rs 12,700 crore in connivance of inside bank officials.

New Delhi, February 24, 2018
This came after the country's second largest state-run lender Punjab National Bank detected a Rs 11,400-crore fraudulent transactions at one of its branches in Mumbai.

New Delhi, February 23, 2018
The country's second largest PSU bank has detected USD 1.77 billion scam where billionaire jeweller Nirav Modi allegedly acquired fraudulent letters of undertaking (LoU) from its Brady House branch in Mumbai to secure overseas credit from other Indian lenders

Virendrasingh Ghunawat
Mumbai, February 18, 2018
As per the information shared by a chartered accountant with India Today, PNB officials were charging a commission of around 2 per cent on each LoU per year which was never shown in bank's account books.

New Delhi, February 17, 2018
State-owned UCO Bank today said it has exposure of USD 411.82 million (about Rs 2,636 crore) in the Rs 11,400-crore PNB fraud committed by billionaire jeweller Nirav Modi and his associates.

February 16, 2018

Anand Adhikari
New Delhi, February 15, 2018
These two key elements - Swift and Nostro - are at the heart of the USD $1.77 billion (Rs 11,395 crore) fraud, as claimed by the PNB, perpetrated by its customer Nirav Modi.
New Delhi, February 15, 2018
The PNB in its cautionary note to other public and private sector banks said that the suspected fraud was carried out by the perpetrators in collusion with the staff.

Chakan (Pune), January 15, 2016
Company's Executive Director Pawan Goenka said the SUV has been in the making for the last four years, while chief executive Pravin Shah said it has invested Rs 1,200 crore on the project.

Kushan Mitra
July 22, 2010
India's No. 1 carmaker Maruti has proved marketing purists wrong by successfully managing multiple brands in similar price points.