PNB scam: How do you make regulators accountable?
It is time the concept of independent evaluation offices for different regulators28-02-2018
28-02-2018
Announcement under Regulation 30 (LODR)-Updates
Intimation regarding appointment of Group Chief Risk Officer27-02-2018
PNB scam: Govt fast-tracks bill to seize assets of defaulters fleeing India
Currently, confiscation can be done through multiple laws but it is a complicated process27-02-2018
Announcement under Regulation 30 (LODR)-Updates
Punjab National Bank has informed the Exchange regarding 'Price sensitive information.26-02-2018
Announcement under Regulation 30 (LODR)-Newspaper Publication
The exchange is hereby clarified on the news items.26-02-2018
Clarification sought from Punjab National Bank
The Exchange has sought clarification from Punjab National Bank with respect to news article appearing on Times of India - February 23, 2018 titled "CBI unearths fraud at Barmer PNB, files FIRs against branch's ex-boss".The reply is awaited.26-02-2018
Share price of Punjab National Bank continues to fall, hitting a new year low
Share price of PNB has continued to decline, hitting a new year low today as questions continue to swirl around how the bank failed to detect the $1.77 billion fraud engineered by Nirav Modi, Mehul Choksi and their various shell companies. The Reserve Bank of India (RBI) has asked all banks to integrate their core banking solutions with the SWIFT messaging network by 30 April, and have spotlighted it as one of the reasons the fraud took place. However, the fraudulent transactions at PNB took place in the Nostro account without being mirrored in the Core Banking System, which is highly irregular and not in line with banking practices. The auditors, supposed to regularly monitor transactions, also failed to catch the fraud, even while PNB topped the number of loan fraud cases over the last few years. The auditors instead signed off on balance sheets presented to investors which had clean seeming numbers, with no significant risks highlighted. PNB is currently in multiple bearish screeners, including oversold by MFI. It is likely to continue trending downwards in the coming weeks.26-02-2018
PNB, Bharti Infratel among most traded stks
Equity benchmarks opened in the positive territory tracking global cues.26-02-2018
PNB-wary banks now plan to get solid cover for lone wolf attacks
PNB-wary banks now plan to get solid cover for lone wolf attacksBesides, tightening internal risk mechanism and vigilance, banks have to look for higher cover to guard against such fraud where employees are involved.25-02-2018
Foreign lenders review counter-party limits on Punjab National Bank
This, after rating agencies are reportedly placing PNB's rating under watch for a possible downgrade25-02-2018