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Saturday
June 2018
11:18 PM IST
News Headlines
Wary of hacks, World Cup teams get serious on cybersecurity        You pass YoYo test, you play for India, says Shastri, Kohli endorses        Prof Debashis Chatterjee assumes charge as Director of IIM-K        UN slams Trump over child detentions        Trump tells GOP to 'stop wasting their time' on immigration        Javadekar assures students will not have to travel outside home state for NEET        YEIDA former CEO accused in land scam arrested        Rahul Gandhi appoints Kharge as in-charge of Cong affairs in Maha        Mamata cancels first China visit as 'political meetings at appropriate level' not confirmed by CPC        Bank with Amit Shah as a director collected highest amount of banned notes among DCCBs: RTI reply        Yoga a unifying force, says Modi        Kamal Haasan meets Sonia Gandhi        Turkey hits back at Trump, imposes tariffs on US goods worth $1.8 bn        Israeli Prime Minister's wife charged with fraud        Air India set to have 'Maharaja' class seats on international flights        Mbappe's goal takes France into knockout stages        Jedinak penalty earns Australia a draw against Denmark        Six Indians enter quarters of Mongolian boxing tourney        Iran in U-turn on women in stadiums as World Cup fever takes hold        Taj group acquires Lutyen's Delhi hotel in NDMC auction        
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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)


Javadekar assures students will not have to travel outside home state for NEET
YEIDA former CEO accused in land scam arrested
Rahul Gandhi appoints Kharge as in-charge of Cong affairs in Maha
Yoga a unifying force, says Modi
Kamal Haasan meets Sonia Gandhi
Inform people about govt's achievements: Khattar to BJP morchas
Leaving CEA job for very compelling reason; will leave by early Sep: Subramanian
Kejriwal faces health issues; likely to join naturopathy course in B'luru
Naveen Patnaik too seeks spl category status for his state
Kumaraswamy refutes reports of Cong-JDS differences on budget
Kejriwal calls off nine day sit-in
ED files fresh charge sheet against Mallya, prepares for fugitive tag
Rahul writes to slain scribe's father, offers condolence
India, China, Pakistan trilateral cooperation can help maintain peace: Beijing's envoy
Vajpayee better, hopeful of full recovery in next few days: AIIMS director
Congress wins Jayanagar assembly seat in Karnataka
Alappuzha and Thiruvananthapuram offer models of decentralized waste management systems
Bhaiyyu Maharaj, Spiritual Guru To Top Politicians, Commits Suicide
Atal Bihari Vajpayee admitted to AIIMS with kidney issues, undergoing dialysis
Will file petition in HC on PM Modi’s attendance in Parliament: AAP
ENTERTAINMENT NEWS
I am a big flop actor: Karan Johar
 (Mumbai, May 5, 2018): Filmmaker Karan Johar is in mood to take up full-fledged acting jobs.  
Bittersweet moment for us: Akshaye on Vinod Khanna's Dadasaheb Phalke honour
Happy Sonam is getting married, Anand a great guy: Harshvardhan Kapoor
Auctioning 'Rustom' costume for good cause: Akshay Kumar
INTERNATIONAL NEWS
UN slams Trump over child detentions
 Geneva, June 22 (AFP) The UN today acknowledged Washington's decision to stop separating migrant fam
Trump tells GOP to 'stop wasting their time' on immigration
Turkey hits back at Trump, imposes tariffs on US goods worth $1.8 bn
Israeli Prime Minister's wife charged with fraud
KERALA NEWS
Kerala among 13 states on thunderstorm alert
 (New Delhi, May 7, 2018): Thunderstorms accompanied by squall, hail and heavy rains are likel
Kerala Karshaka Jadha Opens to a Great Beginning / Video
Malappuram press club attack: RSS workers nabbed
Workers injured in mudslide at construction site
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