Mumbai : The RBI on Thursday said it had imposed a penalty of Rs 10 lakh on Equitas Small Finance Bank for failing to comply with a licensing condition of obtaining prior approval from the central bank for certain actions. The licensing conditions are stipulated by...
By Arul Louis, New York : The Punjab National Bank (PNB) is not shown as a creditor in the bankruptcy documents filed in a court here by three companies affiliated with Nirav Modi, who has been accused in a $2 billion-scam involving the nationalised financial...
New Delhi : The CBI on Sunday registered a bank fraud cases against a Uttar Pradesh based private sugar company, its top officials along with unknown bank officials for allegedly causing loss of Rs 109 crore to Oriental Bank of Commerce, officials said. According to...
New Delhi : While the Confederation of Indian Industry (CII)-Indian Banks' Association (IBA) Financial Conditions Index for the current fourth quarter at 53.2 is showing an increase over the same period a year ago, it marks a fall over the previous quarter and there...
New Delhi : In light of the massive Rs 11,300 crore ($1.8 billion) scam allegedly involving jeweller Nirav Modi that has hit state-run Punjab National Bank (PNB), industry chamber Assocham said on Sunday that the government should surrender its majority control of...
Chennai : With the second largest Indian bank Punjab National Bank (PNB) hit by massive $1.8 billion fraud and other banks hit by frauds as well, Chief Economic Advisor to Indian government Arvind Subramaniam on Saturday advocated more private participation in public...
By Porisma P. Gogoi, Mumbai : The weekly trade in the Indian equity markets was almost flat. However, a slew of domestic developments like a $1.8 billion fraud reported by the Punjab National Bank (PNB) and release of major macro-economic data impacted the movements...
New Delhi : The Supreme Court has said that provision of the Banking Regulation Act, 1949, that prohibits courts from examining the reasonableness of rate of interests charged by banks, will not operate in states with debt relief laws for agriculturists. Section 21A...
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...
Mumbai : A massive sell-off in banking sector stocks pulled the key Indian equity indices -- S&P BSE Sensex and NSE Nifty50 -- lower on Wednesday. According to market observers, heavy selling pressure was witnessed in banking, healthcare and automobile stocks. On...