Other Stories

Government bats for oil-guzzling car industry with 'no explicit policy for eletric vehicles' stance

The Centre has wriggled out from its commitment to come up with a comprehensive Electric Vehicle policy; and it comes as music to the ears of the fossil fuel-guzzling car-makers!

17 Feb 2018

PNB fraud case: I-T dept to question high profile clients of Nirav Modi

On an average his collection was priced from Rs 5 lakh to Rs 50 crore, and with clientels like Kate Winslet, Deepika Padukone, Liza Hayden among others.

17 Feb 2018

PNB fraud case: UCO Bank admits exposure over USD 412 million in scam

State-owned UCO Bank today said it has exposure of USD 411.82 million (about Rs 2,636 crore) in the Rs 11,400-crore PNB fraud committed by billionaire jeweller Nirav Modi and his associates.

17 Feb 2018

Police make way for a vehicle carrying three people suspected of steering fraudulent loans to companies linked to billionaire jeweller Nirav Modi, at a court in Mumbai, India, February 17, 2018. REUTERS/Danish Siddiqui
PNB fraud case: Three accused sent in CBI custody, more officials could be involved

CBI told the court that it suspects the involvement of more PNB officials, and diamond trader Nirav Modi, who is at the centre of the scam, fled the country before the bank could lodge a complaint.

17 Feb 2018

After Punjab National Bank, City Union Bank hit by fraud

Days after the Rs 11,400 crore fraud at PNB shook the country, private sector City Union Bank today said it suffered three fraudulent remittances of nearly Rs 12.8 crore.

17 Feb 2018

A Punjab National Bank logo is pictured outside its branch in New Delhi, India, February 16, 2018. REUTERS/Saumya Khandelwal
PNB fraud case: Banks may take a hit of more than three billion dollars, says Tax Department

As of March 2017, banks had extended loans and guarantees worth 176.32 billion rupees to companies tied to billionaire jeweller Nirav Modi and his uncle Mehul Choksi, the tax department estimates.

17 Feb 2018

Punjab National Bank (File photo | Reuters)
PNB fraud case: CBI arrests two Punjab National Bank officials, searches Brady Road branch

The bank branch, at the centre of one of the biggest financial scams of the country, was searched by the agency, adding that "incriminating documents" related to the case were discovered.

17 Feb 2018

A Nirav Modi jewellery showroom in Chanakyapuri area of New Delhi on Thursday, 15 February 2018. (PTI).
PNB fraud case: Enforcement Directorate continues raids, seizure value rises to Rs 5674 crore

According to the Central Bureau of Investigation, diamond czar Nirav Modi and Mehul Choksi already left the country in January, before an FIR was registered in the Punjab National Bank fraud case.

17 Feb 2018

Arun Jaitley (File | PTI)
Arun Jaitley to embark on two-day Saudi Arabia visit on Saturday night

Finance Minister Arun Jaitley would be leaving Saturday night on a two-day official visit to Saudi Arabia to co-chair the 12th India-Saudi Arabia Joint Commission Meeting on February 18-19.

17 Feb 2018

Punjab National Bank (File photo | Reuters)
Intesa Sanpaola SPA only foreign bank to be affected by Punjab National Bank fraud

The only foreign bank affected in Nirav Modi/Mehul Choksi fraud case turns out to be Intesa Sanpaolo SPA whose Hong Kong branch was called upon to provide money to Gitanjali Gems.

17 Feb 2018

Prime minister Narendra Modi shakes hand with Iran president Dr. Hassan Rouhani before their meeting at Hyderabad house in New Delhi on Saturday. | (Shekhar Yadav | EPS)
Double taxation avoidance agreement to give fillip to India, Iran trade

Enforcement of the double taxation avoidance agreement and extension of preferential tariff would give a fillip to trade and investment between Iran and India.

17 Feb 2018

The logo of Punjab National Bank is seen outside of a branch of the bank in the City of London financial district in London September 4, 2017. | Reuters
Market ends flat for the week, Punjab National Bank fraud shock play spoilsport 

Markets spirited attempt reclaim its stature after two weeks of the slump was frustrated by Punjab National Bank fraud shocker as both the BSE Sensex and Nifty managed to close the week flat.

17 Feb 2018

Gitanjali Gems
Only Gitanjali store in Kolkata in winding up process: ED

The Enforcement Directorate today said the solitary Gitanjali Gems store here has started winding up since the Rs 11,400-crore Punjab National Bank scam broke out.

17 Feb 2018

Punjab National Bank (File photo | Reuters)
Punjab National Bank fraud: Central Vigilance Commission summons bank, Finance Ministry officials

Top officials of PNB and the Finance Ministry have been asked to appear before the Central Vigilance Commission on February 19.

17 Feb 2018

Image used for representational purpose. (File | Reuters)
Coca-Cola sales beat on strong sales of vitamin water, coffee rather than fizzy drinks

Coke also said it planned to use cash it held overseas and savings generated from the US corporate tax rate changes to reduce its debt by USD 7 billion.

17 Feb 2018

A picture illustration shows U.S. 100 dollar bank notes. (File photo |  Reuters)
Pakistan borrows USD 500 million from China

China was the single largest lender that gave a total of USD 1.6 billion, which was equal to one-fourth of the total foreign loans Pakistan has received in the last seven months.

17 Feb 2018

People wait in a queue outside a Punjab National Bank ATM in New Delhi, India, February 16, 2018. | Reuters
PNB fraud case: CBI arrests three, including bank's former deputy manager Gokulnath Shetty and Nirav Modi companies' signatory

The investigating agency arrested Gokulnath Shetty, who was a deputy manager at Punjab National Bank, and Manoj Kharat, who was described by the source as a "single window operator" at the lender.

17 Feb 2018

Image used for representational purpose. (File | EPS)
Punjab National Bank fraud case: Mehul Choksi's Gitanjali group in Income Tax Department's gold probe since 2012

Choksi was under the scanner of the Mumbai I-T Department in 2012 for alleged duty violations while importing huge quantities of gold and diamond items.

17 Feb 2018

File photo for representational purposes.
Uber plans to sell Southeast Asia business to Grab: Media reports

Uber Technologies is preparing to sell its Southeast Asia ride-hailing business to Singapore-based Grab in return for a substantial stake in the company, CNBC reported.

17 Feb 2018

A deep understanding of 3G mobile technology

3G stands for third generation and is a term for wireless industry which is also a collection of international standards and technologies which aims at…

17 Feb 2018

8 proven techniques to boost your product sales

any people now run their own business to earn more money, but they fail to achieve the desired sales goal due to few reasons. Many new techniques and…

17 Feb 2018