Public Sector Bank Scam
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Public Sector Banks Earlier Known For NPAs, Now For Record Profits: PM Modi
Prime Minister Narendra Modi today hit out at the previous UPA government, saying while it destroyed the banking sector with "scams" his dispensation has restored its good financial health, with India now known for the sector's strength.
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In Alleged E-Mail Fraud, Crores Sent To Fake Account By Government Firm
The CBI has registered a case against top officials of a public sector helicopter service company on the basis of a Central Vigilance Commission (CVC) complaint that they had transferred Rs 1.85 crore to a fake bank account in Indonesia instead of a Russian firm contracted for servicing chopper engines in 2016. The objective of the probe is to chec...
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Money Extremely Safe In Public Sector Banks, Says Piyush Goyal
Public money is "extremely safe" in state-owned banks, Finance Minister Piyush Goyal said today against the backdrop of several cases of frauds, including the $2 billion scam at Punjab National Bank, unearthed recently.
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RBI Chief Questioned By MPs On Supervision Fail In Nirav Modi Scandal
Facing tough questions from parliamentarians on the Nirav Modi scam and bad loans hitting state-run lenders, RBI Governor Urjit Patel said today that the regulator had limited powers to act against public sector banks like Punjab National Bank (PNB).
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State-Run Banks To Link SWIFT With Core Banking Solution Post PNB Fraud
Move comes after Nirav Modi's Rs 13,540 crore fraud, in which fraudulent transactions were not registered on PNB's internal system.
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Nirav Modi Scam "One-Off" Case: SBI Chief Rejects Privatisation Calls
The demands for privatization of national banks, triggered by the massive 11,000 crore fraud at the Punjab National Bank involving celebrity jeweller Nirav Modi, has been rebutted by State Bank of India chairman Rajnish Kumar. In an interview to NDTV, Mr Kumar has defended the record of public sector banks and asked if private banks have an unblemi...
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Overreacting To PNB Fraud To Hurt Credit Flow: Assocham
Some immediate steps should be taken for capacity building in public sector banks, said Assocham
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Protests Stall Parliament, Minutes After Budget Session Resumes: 10 Points
The Lok Sabha and the Rajya Sabha were adjourned for the day amid slogan shouting by opposition lawmakers after parliament reconvened on Monday after a recess. In the Rajya Sabha, both the BJP and the Congress have moved adjournment motion notices on issues the parties say must be discussed immediately, setting the tone for a stormy second half of ...
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Bank Union Writes To Finance Minister Arun Jaitley Against Privatisation Of PSU Banks
The Indian National Bank Employees Federation (INBEF) has said in the letter that privatisation of public sector banks (PSU banks) would result in destroying their huge branch network across the country.
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In Three Years, Government Banks Reported 239 Frauds A Month
The 11,300 crore fraud in Punjab National bank (PNB), involving celebrity designer Nirav Modi, may have jolted the banking system, but the rot runs deep. PNB, the second biggest public sector bank in India, reported 471 cases of fraud between 2014-15 and 2016-17, according to the central government.
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Increased Private Participation Needed In Banking: Arvind Subramanian
Chief Economic Advisor to the government Arvind Subramanian on Saturday advocated more private participation in public sector banks after the second largest Indian bank Punjab National Bank got hit by massive $1.8 billion fraud and other banks hit by frauds as well.
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Why Jaitley is 'Disturbed' with Public Sector Banks
Credibility is of extreme importance Mr Jaitley stressed while adding that that the government is acting upon professionalising banks. Banks must endeavour to raise their standards, he added.
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Banks will be encouraged to lend to telecom sector: FM
Finance Minister P Chidambaram today said public sector banks will be encouraged to lend to the telecom sector as it has huge market potential.
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Court rejects bail plea of bank officials accused in scam
A local court today rejected the bail plea of two officials of a public sector bank arrested for their alleged involvement in a multi-crore scam in the district social welfare department.
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Public Sector Banks Earlier Known For NPAs, Now For Record Profits: PM Modi
Prime Minister Narendra Modi today hit out at the previous UPA government, saying while it destroyed the banking sector with "scams" his dispensation has restored its good financial health, with India now known for the sector's strength.
-
In Alleged E-Mail Fraud, Crores Sent To Fake Account By Government Firm
The CBI has registered a case against top officials of a public sector helicopter service company on the basis of a Central Vigilance Commission (CVC) complaint that they had transferred Rs 1.85 crore to a fake bank account in Indonesia instead of a Russian firm contracted for servicing chopper engines in 2016. The objective of the probe is to chec...
-
Money Extremely Safe In Public Sector Banks, Says Piyush Goyal
Public money is "extremely safe" in state-owned banks, Finance Minister Piyush Goyal said today against the backdrop of several cases of frauds, including the $2 billion scam at Punjab National Bank, unearthed recently.
-
RBI Chief Questioned By MPs On Supervision Fail In Nirav Modi Scandal
Facing tough questions from parliamentarians on the Nirav Modi scam and bad loans hitting state-run lenders, RBI Governor Urjit Patel said today that the regulator had limited powers to act against public sector banks like Punjab National Bank (PNB).
-
State-Run Banks To Link SWIFT With Core Banking Solution Post PNB Fraud
Move comes after Nirav Modi's Rs 13,540 crore fraud, in which fraudulent transactions were not registered on PNB's internal system.
-
Nirav Modi Scam "One-Off" Case: SBI Chief Rejects Privatisation Calls
The demands for privatization of national banks, triggered by the massive 11,000 crore fraud at the Punjab National Bank involving celebrity jeweller Nirav Modi, has been rebutted by State Bank of India chairman Rajnish Kumar. In an interview to NDTV, Mr Kumar has defended the record of public sector banks and asked if private banks have an unblemi...
-
Overreacting To PNB Fraud To Hurt Credit Flow: Assocham
Some immediate steps should be taken for capacity building in public sector banks, said Assocham
-
Protests Stall Parliament, Minutes After Budget Session Resumes: 10 Points
The Lok Sabha and the Rajya Sabha were adjourned for the day amid slogan shouting by opposition lawmakers after parliament reconvened on Monday after a recess. In the Rajya Sabha, both the BJP and the Congress have moved adjournment motion notices on issues the parties say must be discussed immediately, setting the tone for a stormy second half of ...
-
Bank Union Writes To Finance Minister Arun Jaitley Against Privatisation Of PSU Banks
The Indian National Bank Employees Federation (INBEF) has said in the letter that privatisation of public sector banks (PSU banks) would result in destroying their huge branch network across the country.
-
In Three Years, Government Banks Reported 239 Frauds A Month
The 11,300 crore fraud in Punjab National bank (PNB), involving celebrity designer Nirav Modi, may have jolted the banking system, but the rot runs deep. PNB, the second biggest public sector bank in India, reported 471 cases of fraud between 2014-15 and 2016-17, according to the central government.
-
Increased Private Participation Needed In Banking: Arvind Subramanian
Chief Economic Advisor to the government Arvind Subramanian on Saturday advocated more private participation in public sector banks after the second largest Indian bank Punjab National Bank got hit by massive $1.8 billion fraud and other banks hit by frauds as well.
-
Why Jaitley is 'Disturbed' with Public Sector Banks
Credibility is of extreme importance Mr Jaitley stressed while adding that that the government is acting upon professionalising banks. Banks must endeavour to raise their standards, he added.
-
Banks will be encouraged to lend to telecom sector: FM
Finance Minister P Chidambaram today said public sector banks will be encouraged to lend to the telecom sector as it has huge market potential.
-
Court rejects bail plea of bank officials accused in scam
A local court today rejected the bail plea of two officials of a public sector bank arrested for their alleged involvement in a multi-crore scam in the district social welfare department.
