Day: February 16, 2018

CBI widens probe into $1.8 billion bank fraud

open view web desk NEW DELHI/MUMBAI – The Central Bureau of Investigation (CBI) raided the offices of jewellery retailer Gitanjali on Friday in a widening probe into a $1.77 billion loan fraud at state-run Punjab National Bank, the biggest bank scam in the country’s history. The case is […]

Rising Bank frauds in India, look at graph below

Credit:Reuters

Exclusive: Unpublished data shows India’s fraud problems extend far beyond PNB

open view web desk NEW DELHI/MUMBAI- Investors may have been shocked when one of India’s biggest banks disclosed a $1.77 billion fraud by billionaire jeweller Nirav Modi, but the central bank has recorded data that shows the problem runs far deeper and wider. Reserve Bank of India (RBI) data, […]

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