Gandhi, who was addressing a rally of farmers and tribal people at Sitapur in Chhattisgarh, promised a farm loan waiver across the country if the Congress returned to power in 2019.
The veteran banker has been named in the CBI chargesheet relating to the Rs 13,000 crore-plus fraud at Punjab National Bank which she headed earlier as CEO
Provisions for the quarter trebled to Rs 16,202 crore, from Rs 5,753.3 crore in March quarter 2017.
Punjab National Bank, which is at the centre of a near Rs 13,000 crore fraud involving jewellers Nirav Modi and Mehul Choksi, is set to report a loss of Rs 3,908.6 crore for the fourth quarter ending March 2018, as per Reuters poll estimates.
Set for superannuation on September 30, 2018, the former PNB chief CEO and managing director currently heading Allahabad Bank, will soon be on her way out much earlier
CBI has filed a chargesheet against former PNB managing director and CEO Usha Ananthasubramanian in relation to the transactions done by the bank with Nirav Modi
Ananthasubramanian was the MD and CEO of PNB from 2015 to 2017 and was questioned recently by the CBI in connection with the case.
These numbers suggest that right after the scam came to light, other jewellers used up their existing credit limits to escape the methods that banks employed for self-protection
For the full financial year, the bank reported a net loss of Rs 5,871.74 crore. It had registered a net loss of Rs 1,094.07 crore in the preceding 2016-17 fiscal.
The investigative agency is probing if Nirav Modi used her or any entities associated with her to route funds, a report suggests
Spokesperson Raveesh Kumar said that inelligence agencies had last approached the ministry with Hong Kong as a possible location.
The bank plans to approach other jurisdictions where Nirav Modi and his associates have assets and properties as part of recovery process, a senior PNB official said.
Diamond merchants Nirav Modi and his uncle Mehul Choksi are alleged to have perpetrated the country's biggest banking sector scam at Punjab National Bank, mainly by way of issuance of fraudulent Letters of Undertaking (LoUs).
The government’s claim each time a scam has taken place is that the law will take its own course. There is invariably a lot of sound and fury – signifying nothing
Insurance companies are witnessing a rise in demand for errors and omissions as well as directors and officers liabilities cover from financial institutions
A high-level group constituted by the institute is studying specifically the systemic issues involved in the PNB fraud and would also suggest remedial measures for strengthening the banking system.
The agency questioned three officials from foreign branches of Indian banks, which had given credit facilities to the companies of absconding billionaire jewellers Nirav Modi and Mehul Choksi, on the basis of Letters of Undertaking (LoUs) issued by Punjab National Bank's Brady House branch in Mumbai.
A special CBI court here today issued a judicial request to be sent to the UK after the central probe agency moved a petition, seeking to attach a bank account of beleaguered diamond trader Nirav Modi, a key accused in the Rs 12,700-crore fraud in the Punjab National Bank (PNB).
The bank has enough resources and capability to meet the challenges posed by the fraud of this nature, he said. "We said this is problem of the bank and we will solve it ourself. We are not seeking government's help by way of capitalisation," he said, when asked if the bank has sought help from the majority shareholder to tide over the problem of fraud.
India's Minister of State for External Affairs V K Singh told parliament last week that "the ministry has sought the provisional arrest of Nirav Deepak Modi by the government of the Hong Kong Special Administrative Region (HKSAR), the People's Republic of China."
The decision to build a highway will push up prices of land adjoining the road. That does not mean the government is in cahoots with land owners. Similar is the case with the 80:20 scheme.
CBI has questioned officers from Allahabad Bank’s Hong Kong branch in relation to the extension of credit facilities on the basis of letter of undertaking (LoUs) issued by PNB.
The bank has received tremendous support from the government, other stakeholders and employees to come out of the situation, Mehta told PTI in an interview
Modi and his uncle Mehul Choksi, in connivance with certain bank officials, allegedly cheated PNB of over Rs 13,000 crore through fraudulent Letters of Undertaking
A lot happened in banking this week.