Free Press Journal
  • Govt to reach out to Oppn to bring peace in House

    New Delhi : Even as Parliament remained paralysed for 14th day on Thursday preventing even the no-confidence motions, two junior parliamentary affairs gave first signs of breaking the signs by approaching leaders of the agitating parties.

  • Bank issued over 41k LoUs since 2011

    New Delhi : Scam-hit Punjab National Bank had issued as many as 41,178 Letters of Undertaking (LoUs) since 2011, of which 1,590 were given to Nirav Modi, Mehul Choksi and their associates, the finance ministry has said. In a written reply to the House on March 20, Finance Minister Arun Jaitley said that PNB has apprised that 7,672 LoUs were issued with validity of 90 days, 20,078 LoUs were issued with validity

  • Uttar Pradesh: Miscreants throw acid on 24-year-old woman in Ghaziabad

    Ghaziabad: Two bike-borne miscreants threw acid on a 24-year-old woman at the Mohan Nagar trisection here today, the police said. Besides the woman, who is an employee of the Punjab National Bank (PNB) in its Shastri Nagar Colony branch, five others also sustained burn injuries in the acid attack and all of them were rushed to a nearby hospital, they added.

  • Mehul Choksi fears for his safety to return home

    New Delhi: Gitanjali Gems Chairman and Managing Director Mehul Choksi, who is a co-accused in multi-crore Punjab National Bank (PNB) scam on Tuesday said that ‘exaggerated allegations by multiple investigating agencies have left him completely defenceless and that he feared for his safety to return home.’ “I further inform that requiring me to join the investigation, though leaving me helpless and information less, by various actions taken by multiple agencies is

  • PNB fraud fallout: Survey shows drop in diamond demand

    New Delhi: The Punjab National Bank (PNB) fraud involving diamantaire Nirav Modi seems to have shaken the confidence of diamond jewellery buyers, especially from the unorganised jewellers, over concerns on the purity of the precious jewellery, resulting in a drop in business, according to a survey released here on Friday.

  • Oh No! PNB detects another fraud case at Mumbai branch

    New Delhi: The Punjab National Bank (PNB) on Thursday has detected another fraud case at a Mumbai branch, which is at the centre of around Rs 9.9 crore fraud, according to a complaint with the police. The new development unfolds after the PNB had detected a 1.77 billion US dollar fraud, wherein noted jewellery designer Nirav Modi had acquired multiple letters of undertaking to avail overseas credit from a number of banks

  • No banking regulator can catch, prevent all frauds: Urjit Patel

    New Delhi: In view of the recent Nirav Modi-led Punjab National Bank (PNB) fraud case, Reserve Bank of India (RBI) Governor Urjit Patel on Wednesday said that it is not possible for any banking regulator to catch or prevent all frauds.

  • PNB sees additional Rs 942 cr exposure to Gitanjali Group

    Mumbai : The Punjab National Bank (PNB) has filed a fresh complaint to the CBI alleging it has uncovered additional exposure of about Rs 942.18 crore defraud by Gitanjali Group of companies in connection with a multi-crore fraud.

  • Bank tightens SWIFT authentication

    Mumbai : The audit committee of Punjab National Bank (PNB) said the bank has implemented a three-level authentication process for financial transactions through SWIFT system, which are being monitored at the bank’s head office.

  • CBI makes one more arrest in Rs 12,600-cr PNB fraud

    Mumbai : The Central Bureau of Investigation (CBI) on Monday arrested Hasmukh Shah, an ex-director and authorised signatory of Forever Precious Jewellery and Diamonds, a subsidiary of  Winsome Diamonds Group, in connection with the Rs 12,600-crore Punjab National Bank fraud.

  • PNB may be given 1 year to make provision against Rs 12k-cr fraud

    New Delhi : The Reserve Bank of India (RBI) may provide four quarters to Punjab National Bank (PNB) for making provisions against the country’s biggest ever banking fraud of Rs 12,646 crore allegedly masterminded by billionaire diamantaire Nirav Modi.

  • HC calls Nirav case sketchy, seeks ED reply

    New Delhi : The Delhi High Court on Wednesday sought response of the Enforcement Directorate on a plea by Nirav Modi’s firm Firestar Diamond against a money laundering case lodged by the agency in connection with the over Rs 12,600 crore Punjab National Bank (PNB) fraud case.