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RBI tightens banks' statutory auditor rules

Finance

04 July, 2018

RBI tightens banks' statutory auditor rules

India's central bank on Wednesday tightened rules on banks' statutory auditors saying it reserved the right to not approve appointments ......

PNB fraud: Interpol issues notice for jeweller Nirav Modi's arrest

People

02 July, 2018

PNB fraud: Interpol issues notice for jeweller Nirav Modi's arrest

Interpol has issued a red notice request to find and arrest fugitive Indian billionaire jeweller Nirav Modi, who is at ......

Carlyle may exit PNB Housing Finance; The Rise Fund-backed Dodla Dairy plans IPO

General

11 June, 2018

Carlyle may exit PNB Housing Finance; The Rise Fund-backed Dodla Dairy plans IPO

Private equity firm Carlyle Group is looking to sell its entire 33% stake in PNB Housing Finance in the next ......

PNB fraud: Jeweller Nirav Modi flees to UK, seeks political asylum

People

11 June, 2018

PNB fraud: Jeweller Nirav Modi flees to UK, seeks political asylum

Nirav Modi, the billionaire jeweller at the heart of a more than $2 billion fraud case in India, has fled ......

CBI files charges against jeweller Mehul Choksi in PNB fraud case

Finance

16 May, 2018

CBI files charges against jeweller Mehul Choksi in PNB fraud case

The Central Bureau of Investigation (CBI) has filed charges against five further people including jeweller Mehul Choksi as part of ......

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 ......

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 ......

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 ......