In what is dubbed as India's biggest bank fraud, diamond jeweller Nirav Modi and his uncle Mehul Choksi had fraudulently raised billions of dollars in foreign credit by conspiring with staff at Punjab National Bank.
The agency has attached assets worth Rs 700 crore of Modi and his family in the country till now.
The 62-year-old liquor baron’s claims of meeting Finance Minister Arun Jaitley before he left India two years ago has stirred a hornet’s nest
The bank's Stressed Assets Targeted Resolution Action Division, which is handling the sale of stressed assets to recover dues, has put on sale a total of 21 accounts
PNB said the submission of financial bids will be only through e-auction method which will take place on the bank's portal on September 20.
Nearly 2 months after Mehta-led committee proposed project Sashakt, the operating guidelines of the inter-creditor agreement to get all banks on board under the project have been finalised
The bank, which was hit with a massive Rs 14,357 crore fraud, has made a big leap in the recovery of funds.
They said a detailed request for issuance of the arrest warrant against Choksi by the global police body was sent in June, soon after the ED filed a charge sheet against him in a Mumbai court.
The notice, which acts as an international arrest warrant, states that Purvi Deepak Modi, 44, is required on charges of "money laundering". The RCN against her was requested by the Enforcement Directorate (ED), officials said.
SWIFT is the global financial messaging service, the wrongful use of which led to the biggest banking sector scam in Punjab National Bank, allegedly perpetrated by diamantaires Nirav Modi and Mehul Choksi
Official sources said the ED will now move to seize these properties and put up its possession signages at these locations.
Bank's subsidiary PNB Investment Services Limited (PNBISL) has invited bids from merchant bankers on behalf of PNB to arrange for investors.
The report expects Gross NPAs and Net NPAs for banking sector likely to reduce to ~10 percent and 4.3 percent, respectively by March 2019.
The approval of the shareholders would be sought during the annual general meeting scheduled to be held on September 18, according to the agenda for the meeting.
As part of the government's effort, reduction in international business is helping lenders improve focus on domestic growth thereby improving their net interest margins and reducing operating expenditure
Ananthasubramanian was named by the CBI in the charge sheet relating to the Punjab National (PNB) unearthed in mid-February.
The government bank expects to raise nearly Rs 700-800 crore from the sale of its earlier head office in New Delhi
Provisions and contingencies met expectations, falling 72 percent sequentially to Rs 5,758 crore. For the year-ago period, the bank's provisions stood at Rs 2,608.7 crore.
A Right to Information query was filed regarding this case with the Ministry of External Affairs in June, asking for details on the status of his passport.
Choksi became an Antiguan citizen in November 2017, and swore his oath of allegiance on January 15 this year
Using his Antiguan passport, Choksi can travel to 132 countries, including the UK and the European Union.
Of the Rs 11,337 crore capital infusion plan, Rs 1,790 crore is for Allahabad Bank, Rs 2,019 crore for Andhra Bank, Rs 2,555 crore for Corporation Bank, Rs 2,157 crore for Indian Overseas Bank and Rs 2,816 crore for Punjab National Bank
Punjab National Bank sees June quarter operating profit at Rs 3,595 crore and FY19 at Rs 21,630 crore.
The government wants to prevent any default on interest payments by public sector banks, because it will result in credit rating downgrade
Last week, the bank and Carlyle Group, which owns over 32 percent in PNB Housing Finance, had announced their plans to sell at least 51 pecent stake in the company.