State-owned banks Punjab National Bank (PNB) and Indian Overseas Bank on Tuesday announced reduction in their lending rates linked to the repo rate by 75 basis points, effective April 1. This follows last week's decision by the RBI to cut the repo rate by 75 bps.
Ahead of a grand merger with two banks namely United Bank of India (UBI) and Oriental Bank of Commerce (OBC) on April 1, the Punjab National Bank (PNB) has unveiled its new logo.
Fugitive diamond merchant Nirav Modi, fighting extradition to India on charges over the nearly USD 2 billion Punjab National Bank (PNB) fraud and money laundering case, has been remanded in custody by a UK court until April 15.
The Central Bureau of Investigation (CBI) on Saturday brought an accused in a bank fraud case from Muscat, Oman. The accused, identified as Sunny Kalra has been brought along with his wife.
Fugitive diamond merchant and prime accused in PNB Scam Nirav Modi has got another jolt as his bail plea was rejected by UK court for the fifth time. He is fighting his extradition to India on charges over the nearly USD 2 billion Punjab National Bank (PNB) fraud and money laundering case.
Punjab National Bank (PNB) on Tuesday said there is no proposal to change the name of the bank following the merger of two other public sector lenders Oriental Bank of Commerce (OBC) and United Bank of India (UBI) with itself.
Punjab National Bank (PNB) on Tuesday reported a standalone net loss of Rs 492.28 crore for December quarter 2019-20 due to substantial increase in bad loan provisioning.
As many as four lenders, including State Bank of India and Punjab National Bank, on Thursday, offloaded Jindal Stainless Ltd shares worth nearly Rs 94 crore in open market transactions. The other lenders that sold shares of the firm are Allahabad Bank and IDBI Bank.
Sameer Aggarwal, CEO of RevFin, said, "We are very excited to offer this life insurance product to our customers. The initial response has been very good from our electric three-wheeler customers. We will keep working to offer better products to our customers and make them a part of the formal economy."
Debit Card users alert! Are you debit card users of SBI, PNB, HDFC, ICICI, or other banks? Then this is important new for you! All public and private banks will block debit cards (ATM cards) which doesn't have EMV (Europay, Mastercard and Visa) after 1st January 2020. According to the Reserve Bank of India (RBI) guidelines, all Indian banks need to replace the magnetic debit card of their customers with a new EMV card.
For starters, in the Forensic Audit - conducted by the Belgium-headquartered BDO's India branch - it was found how Choksi's company Gitanjali Gems Ltd's multiple exporters of rough diamonds used a common account in the same bank, according to sources.
A court on Saturday refused to cancel a non-bailable warrant issued by the Enforcement Directorate against fugitive diamond merchant Mehul Choksi, a key accused in the alleged Punjab National Bank (PNB) scam.
Diamantaire Nirav Modi, the key accused in the USD 2 billion Punjab National Bank (PNB) fraud case was declared a fugitive economic offender by a special court in Mumbai on Thursday.
Nirav Modi and his uncle Mehul Choksi are the prime accused in the PNB fraud case, related to alleged fraudulent issuance of Letters of Undertaking that caused a loss of over USD 2 billion to the public sector bank.
The issue saw a keen fight among banks and separately between the financial institutions and Essar Steel's operational creditors who alleged that ArcelorMittal's winning bid did not meet their dues. ArcelorMittal already won the bid for Essar Steel, having got the NCLT approval for its Rs 42,000 crore bid.
The 48-year-old diamond merchant, who is fighting extradition to India on charges of nearly USD 2 billion Punjab National Bank (PNB) fraud and money laundering case, was produced before Chief Magistrate Emma Arbuthnot at Westminster Magistrates’ Court here for his fourth attempt at bail.
The court has rejected the bail plea of PNB Bank scam accused Nirav Modi for the fifth time.
The scrip plunged 5.06 per cent to close at Rs 64.75 on the BSE. During the day, it tumbled 5.71 per cent to Rs 64.30.
Nirav Modi moved the bail plea in a London court against his continued detention and has asked for house arrest.
Nirav Modi moves new bail application, hearing on Nov 6
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