PNB to take part in bankruptcy proceedings of Nirav Modi's Firestar Diamond in New York

7 months ago
In a bid to recover its dues from celebrity jeweller Nirav Modi, the Punjab National Bank (PNB) is planning to stake its claim in the bankruptcy proceeding of Firestar Diamond. The fugitive diamantaire has been accused of defrauding the public sector bank ... ...

PNB scam fallout: Exporters say banning LoUs no solution to banking mess

7 months ago
Read more about PNB scam fallout: Exporters say banning LoUs no solution to banking mess on Business Standard. The trade credit instrument banned by RBI is used heavily by exporters who import goods which go into the making of export products ... ...

Gem of a scam: How Nirav Modi used fake LoUs to defraud PNB of about Rs 11400 crore

8 months ago
A set of bank officials in connivance with businesses owned by flamboyant diamond and jewellery merchant Nirav Modi exploited information gaps and lax processes in India’s second largest PSU bank, Punjab National Bank, to defraud it of money that may ad ... ...

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