Punjab National Bank

No arrest warrant served to Nirav Modi since 2018, court orders separate trial

With uncertainty looming over the extradition of fugitive diamantaire Nirav Modi and his brother Neeshal Modi, a special court has allowed the CBI to separate their trial from two others accused in the multi-crore rupees Punjab National Bank scam.

Nov 10, 2023

Why no action on diamantaire Nirav Modi's loan frauds? Bombay HC questions PNB

The Bombay High Court has pulled up the Punjab National Bank (PNB) for not taking steps to recover the huge amounts of money availed as loans by the fugitive diamantaire Nirav Modi.

Jun 14, 2023

PNB cautions customers about fake message circulating on digital platforms

The Punjab National Bank (PNB) on Saturday issued an advisory to its customers related to fraudulent messages being circulated in PNB's name.

Apr 22, 2023

PNB declares Rs 2,060cr fraud at IL&FS Tamil Nadu Power [details]

The Punjab National Bank (PNB) has reported a borrowal fraud of Rs 2060.14 crore in the NPA account of IL&FS Tamil Nadu Power at the Extra Large Corporate Branch in Delhi zonal office.

Mar 15, 2022

Bad luck for Nirav Modi as UK court rejects appeal against his extradition to India

Nirav Modi is accused of fraud of about 14 thousand crores by taking a loan from Punjab National Bank (PNB). He fled the country in January 2018 after the scam came to light.

Jun 24, 2021

Dominica declares Mehul Choksi as "prohibited immigrant"; Abduction claim weakens

In a massive setback for the Indian fugitive businessman Mehul Choksi, wanted in India in Rs 13,500 crore Punjab National Bank (PNB) fraud case, the Dominican government declared him as a "prohibited immigrant" in their country.

Jun 10, 2021

Punjab National Bank reports Rs 3,688 crore DHFL loans as fraud

In a regulatory filing, the State-run Punjab National Bank said that it has already made provisions amounting to Rs 1,246.58 crore.

Jul 10, 2020

PSB merger and Covid-19 impact on bank stocks: SBI and PNB dip up to 6%, Indian Bank up by 7.6%

Even as the Indian financial system is grappling with the after-effects of the Covid-19 pandemic, the RBI went ahead with planned PSU mergers from April 1.

Apr 1, 2020

Public Sector Banks report fraud of $13 billion in 6 months: Nirmala Sitharaman

State Bank of India reported fraud of Rs 25,400 crores followed by Punjab National Bank of Rs 10,800 crores and Bank of Baroda of Rs 8300 crores.

Nov 20, 2019

Banking nightmare next week? PSBs will be shut for 5 days effectively

Country's biggest lender, the State Bank of India said that the banking operations are likely to be affected if the unions go ahead with the strike.

Sep 19, 2019

IDBI bank gets fresh lifeline as cabinet approves ₹9257 crore infusion

Notably, the proposed money will be released as a part of the government's plan to recapitalise the national banks with a fund infusion of Rs 70,000 crore in the current financial year.

Sep 3, 2019

PSU banks lose on BSE post merger announcement

Earlier the government had also announced upfront capital infusion of Rs 70,000 crore into the public sectors banks.

Sep 3, 2019

Govt unveils mega bank merger; India to now have 12 public sector banks

The FM's press meeting took place amid growing concerns over the on-going economic slowdown in the country.

Aug 30, 2019

PNB detects Rs 3,805 crore fraud by Bhushan Power & Steel

Bhushan Power and Steel was among the first 12 companies referred by the RBI India to a bankruptcy court for a debt resolution process under India's new insolvency law.

Jul 7, 2019

Nirav Modi scam: UK court to deliver verdict today

Nirav Modi was arrested in March by Scotland Yard officers in London and face extradition charges as the "principal beneficiary" behind the Rs 13,000 crore Punjab National Bank fraud case.

Jun 12, 2019

Centre mulls merger of PNB, Union Bank and Bank of India

"We wouldn't like to wait for too long," says a a finance ministry official, commenting on the plan to merge Punjab National Bank, Union Bank and Bank of India.

May 1, 2019

Reliance Jio's fibre unit readies Rs 27,000 crore war chest to fund expansion

The funds will be used by the company to expand its data network and attract users from other companies and businesses.

Apr 15, 2019

Nirav Modi to be extradited to India? UK court issues arrest warrant against fugitive diamantaire

The court in London was responding to a request raised by the Enforcement Directorate for Nirav Modi's extradition in a money laundering case.

Mar 19, 2019

Two PNB executives sacked over lapses in $2 billion fraud

Nirav Modi and his uncle Mehul Choksi, who left India before the fraud was discovered, have denied the accusations.

Jan 20, 2019

India retains crown as 'world's fastest growing economy'; China a close second

Indian economy's roller-coaster ride during the year gone by was best captured by the GDP growth. In the first quarter of 2018-19 ending June 30, it grew at an impressive 8.2 percent, after 7.7 percent in the first three months of the year.

Jan 1, 2019