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Saturday
December 2018
9:25 PM IST
News Headlines
Trump's son-in-law Jared Kushner possible next chief of staff: US media        Sri Lanka PM Mahinda Rajapaksa to resign, says his son after court setback        Rahul Gandhi After Rafale Verdict: "Will Prove PM Helped Anil Ambani"        Author Amitav Ghosh Honoured With 54th Jnanpith Award        Supreme Court sees no wrongdoing in Rafale deal, rules out probe        India bowled a little bit short, Australia pacers could benefit: Border        ISL: FC Goa thrash NorthEast United 5-1        BWF World Tour Finals: PV Sindhu, Sameer Verma Register Easy Wins To Enter Semifinals        Diving legend says HIV-contracted friend inspired him to Olympic gold        India beat Pakistan to reach final of Emerging Teams Asia Cup        Boosting exports key to make India $5-tn economy by 2025: Kant        Prabhu, US Commerce Secretary to discuss trade issues on Feb 14        Ceasefire for key Yemen port agreed at peace talks: UN        Britain's May sees no 'immediate breakthrough' at EU        Poll results prove Ram Temple or communal polarisation doesn't cut ice with people: Sinha        Ashok Gehlot appeals to Cong workers in Raj to maintain peace        Rahul tweets pic with Kamal Nath, Scindia as race for CM moves to Bhopal        Aussies will fight back, but India has upper hand: Ghavri        World Tour Finals: Tough road ahead for Sindhu; Sameer too eyes knockout berth        Govt should consider 100% FDI in multi-brand retail trade: CII report        
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National News
Indian Banks Association discusses PNB fraud
 
(Mumbai, Feb 17, 2018): The apex body of bankers today met here to discuss the Rs 11,400-crore scam at Punjab National Bank allegedly caused by the absconding diamond trader Nirav Modi and a clutch of his family-run companies.

The meeting of the Indian Banks Association (IBA) was attended by senior officials of public and private sector lenders, sources said this evening.

Interestingly, the meeting, earlier scheduled to be held at the IBA headquarters in Cuffe Parade, south Mumbai, was changed at the last moment to the SBI headquarters at Nariman Point, apparently to avoid the media.

Among those present were Allahabad Bank managing director and chief executive and also IBA chairperson Usha Ananthasubramanian, Bank of India managing director and chief executive Dinabandhu Mohapatra, ICICI Bank chief financial officer N S Kannan and IBA deputy chief executive B Rajkumar.

"The discussion centred around how to recover the money (from those involved in the fraud)," said a banker without disclosing the details.

State-owned PNB has been rocked by a USD 1.77 billion scam where billionaire jeweller Nirav Modi allegedly acquired fraudulent letters of undertakings (LoUs) from the Brady House branch in south Mumbai to secure overseas credit from other lenders.

The other banks which have or have had exposure to the fraud include State Bank of India (over USD 221 million), Allahabad Bank and Axis Bank among others. Some overseas lenders are also believed to have had exposure to the fraud.

Law enforcement agencies are on the lookout for Nirav Modi and his family and also his uncle Mehul Choksi who heads the Gitanjali Group.

The ED claims to have recovered over Rs 5,400 crore worth of diamonds and bullion from the raids on Modi's enterprises since the scam came to light earlier this week.

Modi and his family members left the country in early January and are believed to be in New York.

The enforcement agencies have sought the Interpol help to trace the billionaire jewellery designer and bring him back to the country.

The external affairs ministry yesterday suspended with immediate effect the passports of the diamantaire and his business partner Choksi, both prime accused in the scam, for a month.(PTI)


Rahul Gandhi After Rafale Verdict: "Will Prove PM Helped Anil Ambani"
Author Amitav Ghosh Honoured With 54th Jnanpith Award
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Ashok Gehlot appeals to Cong workers in Raj to maintain peace
Three policemen killed in Shopian by terrorists; weapons snatched
13 of 19 Rajasthan ministers lose elections; CM Vasundhara Raje retains her seat
Clear message to Modi that People are unhappy and it is time for change: Rahul on poll results
BJP mocks Oppn meet, asks them to reveal PM candidate's name
RBI Governor Urjit Patel makes loud noise with silent exit
Can special consideration be shown to man with skin disorder: HC asks Centre
BJP files caveat in SC over 'rath yatra' in WB
More than 225 terrorists killed in J&K so far this year: Army
Glad key people shedding fear, breaking silence on govt decisions: Chidambaram
Krishnamurthy Subramanian appointed as Chief Economic Advisor for 3 years
TN Governor meets Modi, discusses issues of state
Christian Michel sent to 5-day CBI custody by court in VVIP chopper case
Mamata asks people to uphold the secular fabric of the country
Bulandshahr violence: UP CM meets slain inspector's family
Kashmir Valley records sub-zero temp on Tuesday night
Telangana set for change: Rahul Gandhi
ENTERTAINMENT NEWS
Vaikom Vijayalekshmi ties knot with Anoop
 Vaikom: Playback singer Vaikom Vijayalekshmi has tied knot with Anoop N. at Vaikom Mahadeva temple.  
Mohanlal's Odiyan: Official trailer launched
Mammootty narrates Odiyan's intro?
Sradha Kapoor as Saina Nehwal: First look poster is out.
INTERNATIONAL NEWS
Trump's son-in-law Jared Kushner possible next chief of staff: US media
 (Washington, Dec 14, 2018):Donald Trump's son-in-law and senior adviser Jared Kushner is on t
Sri Lanka PM Mahinda Rajapaksa to resign, says his son after court setback
Ceasefire for key Yemen port agreed at peace talks: UN
Britain's May sees no 'immediate breakthrough' at EU
KERALA NEWS
Activist Rehana Fathima, Who Attempted Sabarimala Trek, Arrested Over Facebook Post
 (Kochi, Nov 28, 2018): Model and activist Rehana Fathima, who tried to reach Kerala's Sabarim
Good news for Keralite Nurses: IELTS cut-off reduced to 6.5
BJP leader K Surendran, 71 others granted bail
Sabarimala protests: Arrests up to 2061, Kerala HC warns police
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