Bookmark Kaumudi Online  Bookmark this site  Editor@Kaumudi  |  Marketing  Print Advt rates  |  Calendar 2018        Go!    
 
 
May 25, Friday 2018 5:06 AM       

       HEADLINES: Fisherman dies after boat falls over his head                                              LDF campaign vehicle attacked in Chengannur                                              Netherlands PM to arrive in India today                                              Nipah Virus not an epidemic: Centre                                              Allahabad's name likely to be changed to Prayagraj                                              Star Book Media and Indywood Talent Hunt join hands to promote young talents                                              Rahul gives PM Modi fuel challenge                                              Four Nepali woman journalists scale Mount Everest                                              Trump-Kim meeting set to take place on June 12: Pompeo                                              Corruption cases result of high treason case instituted against Musharraf: Sharif                                              China urges Pak to relocate Hafiz Saeed to a West Asian country                                              Saddam Hussein's 30 million dollars yacht repurposed as a hotel                                              Ode to ABD: When 360 degree was not geometry but joy                                              AFI names 51-member team for Asian Junior Athletics                                              'Tired' AB De Villiers retires from international cricket                                              Injured Kohli ruled out of Surrey county stint                                              Kaumudi Facebook
       BUSINESS Next Article: Chorus of dissent against budget grows: Chidambaram  
       Punjab National Bank detects $1.77 billion worth of fraudulent transactions, CBI probe ordered
 
         Posted on :14:41:20 Feb 14, 2018
   
A A
       Last edited on:14:41:20 Feb 14, 2018
         Tags: Punjab National Bank detects $1.77 billion wo
 

MUMBAI: Indian state-run Punjab National BankBSE -8.88 % said on Wednesday it had detected some "fraudulent and unauthorised" transactions worth about $1.77 billion at one of its branches in Mumbai.

The bank said in a regulatory filing the transactions were "for the benefit of a few select account holders with their apparent connivance" and that "based on these transactions other banks appear to have advanced money to these customers abroad."

PNBBSE -8.88 %, the country's second-biggest state-run lender and fourth-biggest overall by assets, did not name the people involved but said it had reported the deals to law enforcement agencies and would evaluate later whether it faces any liability arising out of the transactions.

"In the bank these transactions are contingent in nature and liability arising out of these on the bank shall be decided based on the law and genuineness of underlying transactions," PNB said, without giving further details.

PNB shares were trading 4.1 percent lower by 0420 GMT, having fallen as much as 5.7 percent in early trading. The main Mumbai market index was little changed.


PNB is already dealing with other allegations of fraudulent transactions. Last week, Indian federal agents said they had launched an investigation into billionaire jeweller Nirav Modi, one of the country's richest men, over accusations that he and others defrauded PNB of $44 million.

A A
       BUSINESS
Next Article: Chorus of dissent against budget grows: Chidambaram
 
 
BUSINESS HEADLINES
IRCTC ties up with ixigo for hotel bookings  
Bringing petrol, diesel under GST will lower prices: Fadnavis  
Russian Govt run atomic energy corporation 'ROSATOM'  
Sensex recoups 153 pts on global cues  
Rupee turbulence sharpens, plunges 38 paise to 68.42 a dollar  
Oil stocks under pressure; slip up to 8%  
Fuel price can be controlled by reducing VAT: Petrol dealers  
Fuel price hike: Centre to intervene, to hold talks with oil companies  
Sensex opens in green on value-buying, up 83 points  
Price of petrol touches Rs. 81 per litre in Thiruvananthapuram  
Sensex down 97 points, Nifty below 10,600  
Sensex up 126 points on Asian cues  
Date market sees decline in demand due to GST this Ramzan  
Fuel prices go up again  
India on path of development of tax collection, domestic capabilities  
Less oil production in OPEC affects fuel price: Pradhan  
Petrol, diesel touch all-time highs as oil companies hike rates  
PriceMap offers India's first product and price discovery platform for offline retail  
Birla Corporation, EBIDTA  
Despite challenging times, global business growth is on the rise, finds Epicor  
Despite challenging times, global business growth is on the rise: Epicor  
Sensex sinks 300 pts to close below 35k-mark  
Petrol, diesel prices skyrocket  
Horlicks creates a new Guinness World Record for making largest glass of milkshake  
April exports jump 5.17% to $25.91 bn, imports rise 4.6%  
 
Will GST help decrease the petrol price?
yes
 
no
 
don't know
 
 
 
Home Kerala India World Business Sports Sci&Tech Education Automobile CityNews Movies Environment Letters 
© Copyright keralakaumudi Online 2011  |  Reproduction in whole or in part without written permission is prohibited.
Head Office Address: Kaumudi Buildings, Pettah P.O, Trivandrum - 695024, India.
Online queries talk to Deepu Sasidharan, + 91 98472 38959 or Email deepu[at]kaumudi.com
Customer Service -Advertisement Disclaimer Statement   |  Copyright Policy