GET Stock QuotesNews18 APP
News18 English
»
1-min read

Govt Mulls Action Against Bank Officials Involved in Frauds

In recent months, many frauds in the banking sector, including those involving diamantaire Nirav Modi and his firms, Rotomac Pens, Dwarka Das Seth International, and Aircel, have come to light.

PTI

Updated:May 8, 2018, 11:20 PM IST
facebookTwittergoogleskypewhatsapp
Govt Mulls Action Against Bank Officials Involved in Frauds
In the case of the nearly Rs 13,000 crore scam perpetrated by Nirav Modi, Punjab National Bank has suspended more than two dozen officials for their alleged involvement. (Image: Reuters)
Loading...
New Delhi: Government is contemplating action against top officials of various banks whose names have cropped up in the investigation reports of various agencies, according to official sources.

In recent months, many frauds in the banking sector, including those involving diamantaire Nirav Modi and his firms, Rotomac Pens, Dwarka Das Seth International, and Aircel, have come to light.

Many such cases are being probed by multiple agencies, including the CBI and the ED.

Sources said some action should be taken against top officials of banks whose names have appeared in the investigative reports of probe agencies with regard to frauds.

In the case of the nearly Rs 13,000 crore scam perpetrated by Nirav Modi, Punjab National Bank has suspended more than two dozen officials for their alleged involvement.

In the case of Rotomac Pens fraud matter also, official of various banks are alleged to be involved.

Recently, the CBI booked top officials of two public sector banks, a former CMD of IDBI Bank, former Aircel promoter C Sivasankaran, his son and companies controlled by him in connection with a Rs 600-crore loan fraud.

The CBI has named 15 bank officials who worked at senior levels at IDBI Bank in 2010 and 2014 when loans were sanctioned to the companies controlled by Sivasankaran in its FIR registered on a complaint from the Central Vigilance Commission.
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
Yes Bank 246.50 -72.70 -22.78
HDFC Bank 1,995.45 +34.10 +1.74
Reliance 1,224.90 +14.15 +1.17
Vedanta 230.50 +0.40 +0.17
HDFC 1,868.05 +37.40 +2.04
Company Price Change %Gain
Yes Bank 241.60 -76.90 -24.14
Godrej Consumer 833.75 +10.05 +1.22
TCNS Clothing C 671.60 +8.25 +1.24
Top Gainers
Company Price Change %Gain
ICICI Bank 332.95 +12.00 +3.74
IOC 156.75 +3.20 +2.08
Axis Bank 621.70 +12.90 +2.12
HPCL 254.65 +3.30 +1.31
HDFC 1,867.45 +36.80 +2.01
Company Price Change %Gain
ICICI Bank 331.75 +10.90 +3.40
Tata Steel 634.80 +14.35 +2.31
NTPC 172.20 +3.10 +1.83
HDFC 1,864.75 +33.60 +1.83
Asian Paints 1,312.30 +22.95 +1.78
Top Losers
Company Price Change %Gain
Yes Bank 244.50 -74.70 -23.40
Infosys 709.85 -9.90 -1.38
Tech Mahindra 766.00 -3.95 -0.51
Bharti Airtel 370.80 +0.75 +0.20
HUL 1,643.05 -4.05 -0.25
Company Price Change %Gain
Yes Bank 244.25 -74.25 -23.31
Infosys 710.00 -10.40 -1.44
Bharti Airtel 370.00 +0.30 +0.08
HUL 1,645.00 -3.90 -0.24
Coal India 280.20 -0.35 -0.12

Live TV

Loading...
Loading...