In the banking world, there is a dramatic change. Till last week, ‘buyers’ credit’ was the safest deal.
Senior officials said the HK regulator had asked status report from Indian banks who have financed companies of Nirav Modi and Mehul Choksi based on the Letter of Undertaking (LoU) issued by PNB.
The auditor has been asked to carry out a probe into transactions between Gitanjali Gems and its group companies and overseas suppliers of rough diamonds to assess if there was round-tripping of funds .
According to PNB’s complaint to the CBI, the accused bank officials fraudulently issued letters of undertakings without making entries into the bank’s system to avoid detection.
Bharuch: The Prime Minister is likely to dedicate the Statue of Unity – world’s tallest statue at Sardar Sarovar Narmada dam site on October 31st this year.
Ahmedabad: After three-hour long meeting between the relatives of self immolation victim Bhanubhai Makwana and State government, a written assurance on demands was given by the state government to Bhanubhai’s relatives who were adamant on not taking dead body of Makwana for cremation until demands are resolves.
As there is no specific mention of pearls in the RBI circular, banks have been treating them as non-capital goods and continue to extend credit for a period of 180 days.
The finance ministry will soon call a meeting of all staterun banks to ensure that all accounts of the entities said to be involved are traced and the exact extent of any fraud ascertained.
Rohit Bal Crystal We’ve seen his display one masterpiece after another on the runway, style weddings with impeccable grandeur and now, Rohit Bal is ready to make his way to every man and woman’s dressing table with his new fragrance line.
Something about Kareena kapoor Khan in Indian that exudes elegance like no one else! Today in @simardugal @khuranajewelleryhouse for @anaitashroffadajania sons navjote!
Last week, PNB’s managing director Sunil Mehta, in his first press conference after the scam broke out, had said that PNB will resolve the issue.
“I curse and abuse my husband every day”, says Rani Mukerji on Neha Dhupia’s Vogue BFFs Neha Dhupia's chat show BFFs with Vogue seems to be making headlines.
“PNB cannot sell the entire stake in the listed mortgage company because of the lock-in until November 7, 2019,” said a source aware of the development.
The alleged $1.8-billion fraud has triggered a spell of self-introspection among local lenders. They are raising cost of overseas trade financing instruments.
“In PNB’s case, the CBS was not aligned to Swift for some transactions because of connivance among a few employees,” said a banker privy with the matter.
PNB had reported fraud to the tune of Rs 11,400 cr after two junior employees issued unauthorised LoUs.
As she exited the local airport, Prachi was photographed in an Only ‘Popeye’ shirt, one that she knotted and paired with denims.
Ahmedabad/Vadodara: Continuing its raids in bank scam of Nirav Modi, the Enforcement Directorate (ED) today conducted search and seizure operations on at least three jewelry outlets in Gujarat.
Shilpa Shetty Kundra As we all know by now that Shilpa Shetty Kundra is the unrivaled queen of wearing saris.