The Enforcement Directorate has attached absconding jeweller Nirav Modi’s assets and valuable worth Rs 255 crore in Hong Kong in connection with $2 billiion alleged fraud in Punjab National Bank.
PNB Fraud Case
How do bank frauds happen? Central Vigilance Commission has the answers
Gold Silver Reports (GSR) – From creating fictional debtors and inflating invoices to hiring chartered accountants to access the core banking systems (CBS) during audits, delinquent borrowers have deployed a slew of tactics to commit bank frauds.
Punjab National Bank (PNB) : Rises On Divestment Plans
Gold Silver Reports (GSR) – Punjab National Bank (PNB): Rises On Divestment Plans — Shares of the fraud-hit lender extended gains for the fourth straight session today, its longest winning streak since Oct last year. The stock rose as much as 4.4 percent to Rs 92.35 apiece.
PNB Scam: Former CEO Of Bank Was Aware Of Fraud, Says CBI
Gold Silver Reports (GSR) – PNB Scam: Former CEO Of Bank Was Aware Of Fraud, Says CBI — Former Managing Director and Chief Executive Officer of Punjab National Bank Usha Ananthasubramanian and some other senior bank officials were aware of the “fraudulent” dealings with diamond merchant Nirav Modi but kept “misleading” the RBI, the CBI has alleged in its charge sheet.
RBI says Examining Enforcement Action; PNB Fraud Case
Gold Silver Reports (GSR) – RBI says Examining Enforcement Action; PNB Fraud Case — Replying to an RTI query, the central bank also said it has been issuing necessary instructions to banks from time to time on a variety of issues of prudential supervisory concern, including the management of operational risks inherent in the functioning of banks.