Gå ubegrenset med Magzter GOLD
Få ubegrenset tilgang til over 9000 magasiner, aviser og premiumhistorier for bare
Prøve GULL - Gratis
The PNB Fraud Explained
Mad About Money
|April 2018
The trending news for this month cannot be anything but the recent $1.77 billion (approximately Rs11, 400 crore) fraud in India’s 2nd biggest public sector lender – Punjab National Bank (PNB).
-
PNB fraud is by far the biggest in any Indian Bank and comes against the backdrop of public sector banks booking Rs. 10 trillion in bad loans and government despite tight fiscal situations bailing them out with Rs. 88, 000 crores as a part of a bigger bank recapitalisation objective. Needless to say, such a fraud has bottlenecked new lending in more ways than one and undoubtedly hurt India’s economic recovery journey.
WHAT WAS THE ALLEGATION FROM PNB?
On 29th January 2018, a PNB Official from Mumbai branch filed a criminal complaint against 4 people and 3 organizations on charges of defrauding the bank. The people included billionaire jeweller Nirav Modi as well as the MD of Gitanjali Gems Ltd, Mehul Choski. PNB also indicated involvement of two junior employees of their Mumbai branch who helped the accused.
Denne historien er fra April 2018-utgaven av Mad About Money.
Abonner på Magzter GOLD for å få tilgang til tusenvis av kuraterte premiumhistorier og over 9000 magasiner og aviser.
Allerede abonnent? Logg på
FLERE HISTORIER FRA Mad About Money
Mad About Money
The Turkey Story - What Has Gone Wrong For Turkish Finance?
With the fall of Turkish lira, has fueled doubts and fears of financial fallout which could affect the other emerging markets as well as banking systems in Europe.
2 mins
September 2018
Mad About Money
Top 6 Personal Finance Books For Millennials
Millennials Have a Distinct Problem With Finance. This Statement Is a Fact, Plain and Simple. A Large Majority of Them Are in Crushing Debt Because of Student Loans.
2 mins
January 2018
Mad About Money
The 8 Must-know Income Tax Changes From April 1st
Though Finance Minister Arun Jaitley in his Budget Speech this year did not really make any changes in the Tax percentages or income tax slabs, however some proposals announced by him will still have an impact on the amount of tax you pay.
2 mins
April 2018
Mad About Money
If You Can't Handle Pressure You Can't Be An Entrepreneur
Let’s face it, being a successful entrepreneur and making it big in life is actually all about handling pressure and nothing else. Surprised? Well, don’t be. You might think success as an entrepreneur might come from having great ideas, from hard work, from exceptional team handling skills, from being able to predict the market demand, etc…but if you really think about it, keep aside all the fluff and go deep down into the core, it is all about handling the pressure.
2 mins
April 2018
Mad About Money
Grow Up & Get Rich Sip Basic – All That You Need To Know!
Sip or systemic investment planning is one of the most common, popular and also the safest way to invest in mutual funds. Since many people are still confused about sips and how they work, here’s a quick guide to help you understand this investment option and to make the best out of it!
2 mins
April 2018
Mad About Money
It Is Not The Inherited Money But The Effort That Counts
It Is Not The Inherited Money But The Effort That Counts
2 mins
April 2018
Mad About Money
Importance Of Staying Rich Once You Are There
Most of Us Define Success as Having a Good Job or Making It Big in Business, Being Rich and Owning Fancy Cars and Luxury Apartments With a Couple of World Tours Thrown in Off and on. Everybody Is in the Rat Race to Make Money. Making Money and Being Rich Is Everyone’s End Goal or Destination in Life.
2 mins
May 2017
Mad About Money
If Getting Rich Is Difficult, Staying Rich Is That Much More Difficult
Ramesh Chandra Is A Famous Businessman Who Used To Be A Billionaire. He Built Himself From Ground Up. He Owned A Private Ltd. Company And Loved Betting In Real Estate Industry. With Profitable Ventures Of 1980s, He Laid The Foundation Stone For A Well-known Real Estate Company Unitech. He Was Worth Over 11 Billion Usd At His Peak In 2007.
4 mins
May 2017
Mad About Money
Dissecting Assets & Liabilities
Knowing the Difference Between Assets and Liabilities Is the First and Most Important Lesson Towards Gaining Financial Consciousn
2 mins
May 2017
Mad About Money
Teach Your Kids To Handle Money So Your Legacy Is A Blessing, Not A Curse
Each One of Us Has an Expiry Date on Earth and One Day It Will Be Our Children Who Will Inherit Everything We Have Built and Saved. The Inheritance We Pass to Them, Can Either Become a Blessing in Their Lives, or Can Ruin Them for an Entire Lifetime.ess.
3 mins
May 2017
Translate
Change font size