Punjab National Bank

Punjab National Bank opens emergency credit line for MSMEs, eases working capital norms

The public sector lender said that it has been contacting more than 1 lakh MSME borrowers through its 'Each One Reach Ten Each Day' initiative to update them about its schemes on a daily basis.

May 07, 2020, 00:59 AM IST

Six public sector banks will cease to exist after mega-merger comes into effect on April 1

The new financial year is set to begin on Wednesday (April 1) and this year this day is significant because it will witness see the merger of six public sector banks into four (anchor banks).

Apr 01, 2020, 10:00 AM IST

Punjab National Bank launches new logo as it merges with United Bank of India, Oriental Bank of Commerce

With this, Punjab National Bank is set to become the second-largest lender in the country.

Mar 30, 2020, 14:48 PM IST

Former Maruti Udyog MD Jagdish Khattar booked for defrauding Punjab National Bank

The central probe agency has registered the case against Khattar, his company Carnation Auto India Pvt Ltd, which he started after leaving Maruti in 2007, following a complaint by Punjab National Bank. 

Dec 24, 2019, 18:31 PM IST

PNB scam: Nirav Modi threatened to kill company's director, CBI tells court

The investigating agency told the special court in Maharashtra that Nirav Modi threatened to kill one of the directors, Ashish Mohanbhai Lad if he ever expressed a desire to return to India from Cairo.

Dec 21, 2019, 13:42 PM IST

Punjab National Bank scam: Nirav Modi's custody extended till November 11

The 48-year-old diamantaire, who is fighting extradition to India, appeared for the hearing from his London jail for a regular remand hearing.

Oct 17, 2019, 18:46 PM IST

PNB reports surprise profit of Rs 1,019 crore for June quarter

Gross NPAs increased to 16.49 percent against 15.5 percent in the previous quarter. In Q1 FY19, the figure stood at 18.26 percent.

Jul 26, 2019, 15:07 PM IST

PNB reports Rs 3,805 crore fraud by Bhushan Power and Steel

In a regulatory filing on Saturday, PNB said that BPSL had misappropriated funds and manipulated books of accounts to raise funds from consortium lender banks.

Jul 08, 2019, 13:16 PM IST

Swiss authorities freeze bank accounts of Nirav Modi, sister Purvi Modi worth Rs 283 crore

The accounts of Nirav Modi and his sister Purvi Modi were frozen following Enforcement Directorate's request under the Prevention of Money Laundering (PMLA) Act.

Jun 27, 2019, 12:32 PM IST

Antigua to repatriate Mehul Choksi: Timeline of PNB scam and his disappearance

Mehul Choksi and his nephew Nirav Modi are wanted by the ED and the CBI for allegedly defrauding the PNB to the tune of Rs 13,400 crore, in collusion with a few of its employees.

Jun 25, 2019, 17:46 PM IST

Mehul Choksi's citizenship will be revoked: Antigua PM

Antigua PM Gaston Browne has confirmed Mehul Choksi's citizenship will be revoked. Choksi along with Nirav Modi is the main accused in the Rs 11, 400 crore PNB scam.

Jun 25, 2019, 16:04 PM IST

PNB's recovery of bad loans doubled to Rs 20,000 cr in FY19

The bank suffered losses allegedly after jewellers Nirav Modi, Mehul Choksi and some bank employees collided to defraud PNB of about Rs 1,000 crore. The scam was unearthed in February 2018.

Jun 20, 2019, 10:33 AM IST

Ind-Ra downgrades PNB's Rs 67.5-billion AT1 bonds

However, the rating agency has affirmed the bank's overall long-term issuer rating at AA+ and the short-term issuer rating at A1+.

Jun 19, 2019, 10:49 AM IST

UK Court defers Nirav Modi's bail plea to Wednesday afternoon

Nirav has been lodged in Wandsworth prison, considered one of Britain's most notorious cell, since March 19. 

Jun 11, 2019, 20:49 PM IST

Nirav Modi moves Royal Court of Justice for bail

On May 30, the Westminster Magistrates Court in London extended judicial custody of Modi till June 27.

Jun 11, 2019, 13:24 PM IST

Nirav Modi approaches UK High Court for bail

The Crown Prosecution Service (CPS) said the hearing for his bail petition will take place on June 11.

May 31, 2019, 15:44 PM IST

UK court extends Nirav Modi's custody till June 27

Nirav Modi was arrested by uniformed Scotland Yard officers from a Metro Bank branch in central London as he attempted to open a new bank account on March 19.

May 30, 2019, 16:20 PM IST

PNB narrows Q4 loss to Rs 4,750 crore

The scam-hit lender had posted a staggering loss of Rs 13,417 crore during the corresponding January-March period of 2017-18.

May 28, 2019, 13:18 PM IST

Sebi exempts govt from PNB open offer; directs reducing non-public holding post capital infusion

In February, Punjab National Bank filed an application on behalf of the central government seeking exemption from open offer requirement under takeover regulations.

Mar 28, 2019, 10:48 AM IST

Long time before Nirav Modi is extradited: Top UK law expert

Modi was held after a UK court executed an arrest warrant issued against him by the Westminster Court on March 13, which was described as "a major victory" by India.

Mar 20, 2019, 18:55 PM IST