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Russia-Ukraine war

27 Feb 2022

Russia-Ukraine war: US, EU, UK to sanction Moscow's central bank, block SWIFT

The US, EU and UK agreed to put in place crippling sanctions on the Russian financial sector This blocks Russia's access to the global financial system and, restrictions on its central bank in retaliation for its invasion of Ukraine

12 Mar 2018

Reform state-run banks, IMF tells India after PNB fraud

IMF said that banking reforms like insolvency code and recapitalisation will be ineffective unless governance standards are improved.

04 Mar 2018

PNB fraud: Here's how Rs 12,700-cr scam affected trade, financial activities

However, bankers feel that there will not be a complete freeze so that a genuine businessman's operations are affected.

pnb fraud fallout

24 Feb 2018

PNB fraud: RBI gives banks Apr 30 deadline to link CBS with SWIFT

RBI said that it had alerted banks three times since August 2016 for a possible misuse of the SWIFT infrastructure.

17 Feb 2018

PNB fraud: UCO Bank says has $411.82 mn outstanding exposure

PNB, the second-largest public sector bank in India, had detected the $1.8 billion fraud in one of its branches in Mumbai.

17 Feb 2018

After PNB, City Union Bank says hit by Rs 12.8 crore fraud caused by SWIFT system

Just like the PNB fraud, no entries of remittances were made in the ledgers of City Union Bank.

15 Feb 2018

How PNB fell victim to India's biggest bank fraud: All you need to know

The fraud, by far the biggest ever detected by an Indian bank, comes to light at a time when lenders, especially the state-run banks are hobbled by $147 bn in soured loans on their books.

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