Banks general
SBI, UBI share $500 mn of the $1.77 bn Nirav Modi-fraud on PNB
17 Feb 2018
The Punjab National Bank scam involving a Rs11,300 crore fraud by global jeweller Nirav Modi could balloon into a much larger banking industry scam after investigating agencies extended probe to other major jewellers and banks
PNB fraud: net widened; Modi, Choksi passports suspended
17 Feb 2018
By Friday, the ED and CBI had searched 35 locations in 11 states and seized jewellery worth Rs5,100 crore in connection with the Rs11,400 crore ‘fraud’ pulled by jewellers Nirav Modi and Mehul Choksi on Punjab National Bank
FRDI Bill pits depositors against borrowers
14 Feb 2018
While the Department of Economic Affairs has hinted at an upward revision in the deposit insurance cover, RBI governor has suggested Rs1 lakh status quo to save banks from increased liability amidst rising bad loans
PNB reports Rs10,000-cr fraudulent transactions in its Mumbai branch
14 Feb 2018
PNB said the unauthorised transactions (messages) involved a few select account holders in a Mumbai branch, based on which other banks appear to have advanced money to these customers abroad
RBI tightens rules for bad-loan resolution
13 Feb 2018
RBI today issued a revised framework for resolution of bank loan defaults, widening the net for bankruptcy proceedings against loan defaulters and in the process abolishing half a dozen existing loan-restructuring mechanisms
RBI keeps policy rates unchanged amidst a spike in inflation
07 Feb 2018
The Monetary Policy Committee of the central bank today decided to keep the repo rate unchanged at 6 per cent and the reserve repo rate at 5.75 per cent, while holding the Bank Rate at 6.25 per cent, citing inflationary pressures
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