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Allahabad Bank reports $259 mn alleged fraud by Bhushan Power & Steel

Finance

15 July, 2019

Allahabad Bank reports $259 mn alleged fraud by Bhushan Power & Steel

India's Allahabad Bank on Saturday became the second Indian state-owned bank to report a major alleged fraud by bankrupt steelmaker ......

How the $2-bn PNB fraud choked credit supply to small businesses

Finance

16 May, 2018

How the $2-bn PNB fraud choked credit supply to small businesses

When a $2 billion dollar fraud at state-run Punjab National Bank rocked India two months ago, Chetan Hemani and other ......

Punjab National Bank posts $2 bn loss for Jan-March on Nirav Modi scam

Finance

15 May, 2018

Punjab National Bank posts $2 bn loss for Jan-March on Nirav Modi scam

Punjab National Bank, the fourth-biggest Indian lender by assets, posted a $1.98 billion fourth-quarter net loss after being hit by ......

Govt seeks ouster of Allahabad Bank CEO, two PNB execs over Nirav Modi fraud case

Finance

14 May, 2018

Govt seeks ouster of Allahabad Bank CEO, two PNB execs over Nirav Modi fraud case

India is taking steps to oust three bank executives, its banking secretary said on Monday, after police issued a list ......

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Bidding war never good for the winner: Valuation guru Aswath Damodaran

Finance

23 April, 2018

Bidding war never good for the winner: Valuation guru Aswath Damodaran

India Inc has seen several bidding wars of late, as several potential buyers fight for companies in sectors such as ......

PNB fraud: India asks Hong Kong to arrest jeweller Nirav Modi

People

06 April, 2018

PNB fraud: India asks Hong Kong to arrest jeweller Nirav Modi

India has asked authorities in Hong Kong to arrest jeweller Nirav Modi, one of the main suspects in a $2-billion ......

India unwrapped: Poll dates leak, Air India sale takes off, Mallya getting hitched

General

30 March, 2018

India unwrapped: Poll dates leak, Air India sale takes off, Mallya getting hitched

India, it appears, is in the throes of a season of leaks. If l’affaire Cambridge Analytica caused more than a ......

From diamond merchants to fish farmers, why is defrauding Indian banks so easy?

Finance

30 March, 2018

From diamond merchants to fish farmers, why is defrauding Indian banks so easy?

Are Indian bankers sloppy? Are they corrupt? Or is it just dumb luck that India’s banking sector is in the ......

Andhra Bank shares slump to 15-year low on fraud probe

Finance

12 March, 2018

Andhra Bank shares slump to 15-year low on fraud probe

Shares in the state-run Andhra Bank, already hurt by an industry-wide spillover of a huge scam in another lender, fell ......

Farmers' woes to PNB fraud: It's a long march for BJP to meet its promises

General

12 March, 2018

Farmers' woes to PNB fraud: It's a long march for BJP to meet its promises

Two years ago, as part of the 2016-17 budget announcements, Prime Minister Narendra Modi vowed to double farmers' income by ......