The weekly trade in the Indian equity markets was almost flat. However, a slew of ...
In a bid to expand into the growing home automation market, Microsoft's digital...
The weekly trade in the Indian equity markets was almost flat. However, a slew of domestic developments like a $1.8 billion fraud reported by the Punjab National Bank (PNB) and release of major macro-economic data impacted the movements of the two key equity indices, analysts said. ...
Karnataka on Friday heaved a sigh of relief after the Supreme Court gave a verdict in its favour in a dispute over the sharing of the Cauvery river water with neighbouring Tamil Nadu, an official said. "Chief Minister (Siddaramaiah) expressed relief that the state got a favourable verdict in the dispute and its stand was partially accepted by ...
Reliance Communications (RCOM) shareholders approved the resolution to monetise the spectrum, towers, fibre, telecom infrastructure and other assets with overwhelming majority of 99.91 per cent, a regulatory filing by the company said here on Friday. "RCOM's asset monetisation is proceeding on fast track to close by March 2018, subject to lenders' con...
The CBI on Friday registered an FIR against the Gitanjali Group of companies based on a complaint registered by the Punjab National Bank in a multi-crore fraud case, sources said. The PNB had filed the complaint on February 13 in the Rs 11,515 crore ($1.8 billion) fraudulent transactions. Searches were underway on Friday at 20 lo...
Only the naive would believe that just two officials were involved in the $1.8 billion fraud in Punjab National Bank (PNB) and that the whole bank was in the dark for the past seven years, said a top leader of a major bank union. He also asked the PNB management to reveal what kind of due diligence was done on diamond trade...
Mumbai, Feb 16 Key Indian equity indices on Friday traded in the negative territory during the mid-afternoon session on the back of heavy selling pressure in auto, banking, metals, capital goods and consumer durables stocks. At 1 p.m., the wider Nifty50 of the National Stock Exchange (NSE) edged lower by 41.25 points or 0.39 per cent to trade...
The industry body Assocham on Friday criticised the functioning of public sector banks and questioned its "vulnerable" position in a first reaction by any chamber of commerce to the $1.8 billion fraud that took place in Punjab National Bank. "Alleged fraudulent transactions worth Rs 11,300 crore from a single branch of the Punja...
The CBI has sought Interpol's help in tracking down billionaire diamond trader Nirav Modi, who has been accused of a multi-crore rupee banking fraud and is reported to have fled the country. According to informed sources, the CBI has issued an Interpol "diffusion notice" against Modi, his wife Ami, brother Nishal Modi and business partner Mehul Ch...
