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Reuters
New Delhi, September 20, 2018
The Danish bank detailed compliance and control failings amid growing calls for a European Union crackdown on financial crime after a series of money laundering scandals which have attracted the attention of USauthorities.


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


Reuters
August 6, 2018
Mark Li, an analyst at Sanford C. Bernstein, said in a report on Sunday technology giant Apple was one of the impacted customers but a swift recovery in the fourth quarter should keep the impact minimal.


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 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
May 15, 2018



Dipak Mondal
New Delhi, April 3, 2018
The group found that Nirav Modi's company was granted loan despite his company having only current account with the Brady House branch of the bank. \"When there is only current account, no credit facility should be granted -- neither the letter of undertakings (LoUs) nor Letter of credit (LoCs),\" says SB Zaware, member, Central Council, ICAI.


PTI
New Delhi, March 28, 2018
The decision was taken by the board for the payment related to Letters of Undertaking (LoUs) and Foreign Letters of Credit (FLCs) issued by the bank which mature on or before March 31, 2018.


BusinessToday.In
New Delhi, March 16, 2018
The meeting came about as a result of the finance ministry's directives to PSBs to come up with a pre-emptive action plan to identify gaps in tackling operation and technological risks.


PTI
March 15, 2018



Reuters
New Delhi, March 10, 2018
The Reserve Bank of India has asked commercial lenders to provide it with details of all letters of undertaking - a form of credit guarantee at the centre of an alleged $2 billion fraud - issued by them in the past several years, according to four bankers who have seen the directive.


PTI
March 2, 2018
The documents were hidden in a small room of a 'chawl' in Wadala, a central Mumbai suburb. The premises is believed to be that of Nirav Modi (not in name of the company). The billionaire jeweller has refused to join the probe citing his business engagements.


PTI
New Delhi, March 1, 2018
Officials said the searches were carried out after information surfaced during questioning of some arrested accused and others persons.


PTI
February 28, 2018



PTI
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.


PTI
February 24, 2018



PTI
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


PTI
New Delhi, February 20, 2018
Ambani was arrested along with executive assistant Kavita Mankikar and Senior Executive Arjun Patil in connection with the first FIR registered by the agency, in which 150 Letters of Undertaking (LoUs) worth Rs 6,498 crore are under probe.


BusinessToday.in
New Delhi, February 20, 2018
From being a sought-after scamster to his name, the protagonist in the book Nirav Choksi has many similarities with real life Nirav Modi


BusinessToday.in
New Delhi, February 18, 2018
Days after Punjab National Bank (PNB) said that its Brady House branch in Mumbai was involved in a fraud of over Rs 11,400 crore, questions have been raised over the conduct of bank officials who granted Nirav Modi's firms LoUs without due diligence.


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