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Punjab National Bank

Punjab National Bank Fundraise News Boosts Stock; Hits 52-Week High | Stock Market News

Punjab National Bank Fundraise News Boosts Stock; Hits 52-Week High | Stock Market News

Fri, Dec 29, 2023

Punjab National Bank (PNB) shares surged in morning trade after announcing a Rs 7,500 crore capital raise plan. The stock jumped to a new 52-week high of Rs 96.55 but later retreated amidst profit booking. Analysts foresee potential further gains, with targets of Rs 110 if the stock surpasses Rs 100 on closing basis.

Exclusive: In conversation with SS Mallikarjuna Rao, MD and CEO, PNB

Exclusive: In conversation with SS Mallikarjuna Rao, MD and CEO, PNB

Fri, Dec 06, 2019

In conversation with SS Mallikarjuna Rao, MD and CEO of Punjab National Bank. To know more watch the video

PNB's NPA slippages will be restricted within Rs19,000 crore levels by end of this fiscal year: SS Mallikarjuna Rao, MD & CEO

PNB's NPA slippages will be restricted within Rs19,000 crore levels by end of this fiscal year: SS Mallikarjuna Rao, MD & CEO

Fri, Nov 08, 2019

The accounts that turned up to be an NPA account and added to the slippage in this quarter include Jet Airways. Besides, the retail, agriculture and MSME (RAM) has a contribution of around Rs3,000 crore to the slippage of the quarter. Thus, total slippage stands around Rs11,000-12,000 crore in the first half of the year.

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Maharashtra farmers 'reclaim' land acquired by Nirav Modi's firm

Maharashtra farmers 'reclaim' land acquired by Nirav Modi's firm

Sat, Mar 17, 2018

A group of over 200 farmers, who arrived in bullock carts at the tract of land at Khandala in Karjat tehsil, ploughed a part of it using a tractor as a symbolic reclaiming of possession. They will start cultivation on the full 125 acres of the acquired land soon, farmers said. Today's protest was meant to show that farmers have reclaimed their land, which was acquired on behalf of Nirav Modi's Firestar company some years ago, they said

PNB fraud: World Bank plays down scam, says not a systemic problem

PNB fraud: World Bank plays down scam, says not a systemic problem

Fri, Mar 16, 2018

The PNB scam has been accompanied by many other frauds, including the over Rs 3,600-crore Rotomac scam and others coming to light and cases being made by the national investigation agency Central Bureau of Investigation.

PNB fraud case: Shocking news keeps pouring in; here's what has happened now

PNB fraud case: Shocking news keeps pouring in; here's what has happened now

Thu, Mar 15, 2018

PNB fraud case: The newly uncovered scam raises fresh doubts about whether more such cases involving fraudulent guarantees lurk on the books of PNB, the second biggest state-run lender, or other government-owned Indian banks.

PNB fraud case: ED seeks Interpol's Red Corner Notice against Nirav Modi, Mehul Choksi

PNB fraud case: ED seeks Interpol's Red Corner Notice against Nirav Modi, Mehul Choksi

Wed, Mar 14, 2018

PNB fraud case: The Enforcement Directorate (ED) has moved the Interpol for issuance of a Red Corner Notice against diamond traders Nirav Modi and Mehul Choksi in connection with the over Rs 12,000 crore PNB scam. Officials said the agency had sought issuance of the Interpol warrant against the t

No Nirav Modi firm in the list of 2.26 lakh deregistered cos: Govt

No Nirav Modi firm in the list of 2.26 lakh deregistered cos: Govt

Tue, Mar 13, 2018

PNB scam: As part of larger efforts to curb the black money menace, the corporate affairs ministry has deregistered little over 2.26 lakh companies for not carrying out business activities for long.

Govt says will take action on P Chidambaram relaxing gold import norm

Govt says will take action on P Chidambaram relaxing gold import norm

Mon, Mar 12, 2018

Faced with barrage of attack from the Congress over the Rs 12,700 crore fraud at Punjab National Bank, the ruling BJP had earlier this month accused P Chidambaram of aiding jewellers Mehul Choksi and Nirav Modi

Andhra Bank share price hits 14-year low; this Rs 5000 cr scam is reason why

Andhra Bank share price hits 14-year low; this Rs 5000 cr scam is reason why

Mon, Mar 12, 2018

The Enforcement Directorate on Friday filed a supplementary prosecution complaint (charge sheet) against former Andhra Bank director Anup Prakash Garg in connection with a Rs 5,000 crore bank fraud involving the Vadodara-based Sterling Biotech Ltd (SBL) of the Sandesara group of companies.

PNB fraud: Overreaction to scam may hugely hurt credit flow, says Assocham

PNB fraud: Overreaction to scam may hugely hurt credit flow, says Assocham

Sun, Mar 11, 2018

PNB fraud: Supporting the calls from industry for privatising public sector banks (PSBs) in the wake of the PNB scam by accused diamantaire Nirav Modi and his uncle Mehul Choksi, Assocham said that some immediate steps should be taken for capacity building in PSBs.

PNB fraud: RBI just turned up heat on all banks; here is how

PNB fraud: RBI just turned up heat on all banks; here is how

Sun, Mar 11, 2018

PNB fraud: Two jewellery groups were accused last month of defrauding state-run Punjab National Bank (PNB) of more than $2 billion, mostly through fraudulent guarantees based on letters of undertaking (LoUs) issued by rogue bank employees that they used to raise credit overseas. The key accused in the case have denied any wrongdoing.

PNB fraud case impact: Centre makes this Passport rule a must for loans

PNB fraud case impact: Centre makes this Passport rule a must for loans

Sat, Mar 10, 2018

PNB fraud case impact: Passport details will help banks to take timely action and inform the relevant authorities to prevent fraudsters from fleeing the country, a top government official said

PNB fraud case crackdown: Big setback for large borrowers; here is what FinMin has done

PNB fraud case crackdown: Big setback for large borrowers; here is what FinMin has done

Tue, Mar 06, 2018

The Finance Ministry has directed state-owned banks to obtain passport details of all borrowers, who have taken loans in excess of Rs 50 crore, within 45 days with a view to preventing alleged fraudsters like Nirav Modi and Vijay Mallya from fleeing the country, sources said. In case the borrower

PNB fraud case crackdown: ICICI Bank chief Chanda Kochhar, Axis Bank MD Shikha Sharma get SFIO summons

PNB fraud case crackdown: ICICI Bank chief Chanda Kochhar, Axis Bank MD Shikha Sharma get SFIO summons

Tue, Mar 06, 2018

Punjab National Bank (PNB) fraud case: The SFIO was investigating loans of Rs 5,280 crore to Gitanjali Gems by ICICI Bank-led consortium of 31 banks which gave loans to the company

Is your money safe with scam-hit Indian banks?

Is your money safe with scam-hit Indian banks?

Tue, Mar 06, 2018

If the bank goes into liquidation, the deposit insurance and credit guarantee corporation (DICGC), which is an RBI subsidiary pays up to Rs 1 lakh to the depositor either directly or through a liquidator.

PNB fraud: Fresh evidence to showcase how RBI, auditors failed at their jobs

PNB fraud: Fresh evidence to showcase how RBI, auditors failed at their jobs

Tue, Mar 06, 2018

PNB fraud: The room where Gokulnath Shetty worked was visited on a quarterly basis by external auditors approved by the central bank, who sifted through documents but failed to spot any problem

PNB fraud: NCLT bars over 60 entities from selling assets

PNB fraud: NCLT bars over 60 entities from selling assets

Sun, Mar 04, 2018

PNB fraud: The National Company Law Tribunal (NCLT) have passed the directions against Nirav Modi and Mehul Choksi, the alleged main perpetrators of the fraud, as well as their firms and relatives, among other entities, as per a public announcement by the corporate affairs ministry

Loan defaults: Sebi to push for urgent disclosure by listed firms

Loan defaults: Sebi to push for urgent disclosure by listed firms

Sun, Mar 04, 2018

Loan defaults: Concerned over an alleged loan fraud of over Rs 12,000 crore at state-run Punjab National Bank remaining undetected for years, the capital markets watchdog is revisiting its "on-hold" proposal to mandate listed firms to disclose all 'substantial' loan defaults within a day

PNB fraud: Mauritius promises action against entities linked to fraudulent practices

PNB fraud: Mauritius promises action against entities linked to fraudulent practices

Sun, Mar 04, 2018

PNB fraud: The Financial Services Commission (FSC) of Mauritius said in a statement that it has taken cognizance of the media reports about the purported fraud allegations with regards to Punjab National Bank, Nirav Modi and Mehul Choksi

PNB fraud: Financial professionals accuse govt of diluting RBI power to select auditors for bank

PNB fraud: Financial professionals accuse govt of diluting RBI power to select auditors for bank

Sat, Mar 03, 2018

In the wake of an alleged multi-crore fraud on state-run Punjab National Bank (PNB), the auditors and financial professionals on Saturday accused the central government of "diluting the bank audit system as well as power of Reserve Bank of India (RBI) for selection of auditors for auditing of ban

PNB fraud: Court issues non-bailable warrants against Nirav Modi, Mehul Choksi

PNB fraud: Court issues non-bailable warrants against Nirav Modi, Mehul Choksi

Sat, Mar 03, 2018

PNB fraud: The ED had earlier issued summonses to Modi and Choksi, both key accused in the scam cases, asking them to appear before the central agency. However, the two diamond traders, who are said to have left the country before criminal cases were registered, had failed to appear before the ED, prompting the agency to move the PMLA court for issuance of NBWs against them.

PNB not shown as creditor in US bankruptcy filing by Nirav Modi companies

PNB not shown as creditor in US bankruptcy filing by Nirav Modi companies

Fri, Mar 02, 2018

The three companies, -- Firestar Diamond, Inc. (FDI); Fantasy, Inc. (FI), and A Jaffe Inc. (AJI) -- filed for bankruptcy protection in the United States Bankruptcy Court for Southern New York on Monday.

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