Chennai: Banks will not remain closed for five consecutive days starting from Thursday, a union leader said on Monday. “The banks will work on March 31 (Saturday) and there is no continuous holidays as per messages in the social media,” D. Thomas Franco Rajendra Dev, General Secretary of the All[Read More…]
Tag: PSU Bank
SBI slashes charges on minimum balance in accounts
New Delhi: Country’s largest lender State Bank of India (SBI) has substantially reduced charges for non-maintenance of average monthly balance (AMB) in savings accounts, which would benefit 25 crore banks’ customers, an official statement said here on Tuesday. The revised charges would be effective from April 1, 2018. This step[Read More…]
PNB fraud accused Choksi says impossible to return to India
New Delhi: Gitanjail Group promoter Mehul Choksi, accused of involvement in the Rs 12,600 crore fraud against the Punjab National Bank (PNB), has said it was “impossible” for him to return to India, citing health reasons and suspension of his passport. In a March 7 dated letter emailed to the[Read More…]
CBI registers fresh Rs 321 crore case against Nirav Modi
New Delhi: The CBI on Thursday said that it has registered a fresh case against diamantaire Nirav Modi for causing a loss of Rs 321 crore to Punjab National Bank (PNB) by availing different credit facilities between 2013 and 2017. According to a Central Bureau of Investigation official, the case[Read More…]
Singhvi gets IT notice for Nirav Modi purchases
New Delhi: The Income Tax Department on Tuesday said an “inquiry notice” was sent to Congress leader Abhishek Manu Singhvi’s wife Anita who had allegedly bought diamonds and jewellery worth Rs 6.5 crore from a store owned by fugitive Nirav Modi. “An inquiry notice has been served to Anita Singhvi[Read More…]
Arrested PNB officials illegally accessed Level-5 SWIFT password, shared it with firm
New Delhi: The arrested deputy manager of Punjab National Bank (PNB) has told investigators that he had unauthorisedly obtained Level-5 password to the SWIFT system to authorise issuance of money through Letters of Undertaking (LoUs) and Foreign Letters of Credit (FLCs). Shetty made the startling revelations when sleuths of Central[Read More…]
Two Gitanjali officials named in CBI FIR resign
Mumbai: Following the unravelling of the $1.8 billion Punjab National Bank (PNB) fraud, two senior officials of Gitanjali Gems — Chandrakant Karkare and Pankhuri Warange — resigned from the company, according to a regulatory filing with the stock exchanges on Monday. Industry chambers condemn $1.8 bn fraud, rap functioning of[Read More…]
PNB fraud: Ex-Deputy Bank Manager Gokulnath Shetty arrested
New Delhi: The Central Bureau of Investigation (CBI) has arrested Punjab National Bank’s retired Deputy Manager, Gokulnath Shetty and two others in a multi-crore bank fraud case, officials said on Saturday. “CBI has Shetty, Single Window Operator Manoj Kharat and authorised signatory of the Nirav Modi Group of Firms, Hemant[Read More…]
CBI registers FIR against Gitanjali group in $1.8 bn fraud case
New Delhi, Feb 16: The CBI on Friday registered an FIR against the Gitanjali Group of companies based on a complaint registered by the Punjab National Bank in a multi-crore fraud case, sources said. The PNB had filed the complaint on February 13 in the Rs 11,515 crore ($1.8 billion)[Read More…]
Industry chambers condemn $1.8 bn fraud, rap functioning of PSU banks
New Delhi: Two days after the $1.8 billion fraud in Punjab National Bank (PNB) was disclose, industry chambers on Friday condemned the incident criticising the functioning of public sector banks. “Alleged fraudulent transactions worth Rs 11,300 crore from a single branch of the Punjab National Bank with the connivance of the[Read More…]