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Saturday
December 2018
8:15 AM IST
News Headlines
Trump's son-in-law Jared Kushner possible next chief of staff: US media        Sri Lanka PM Mahinda Rajapaksa to resign, says his son after court setback        Rahul Gandhi After Rafale Verdict: "Will Prove PM Helped Anil Ambani"        Author Amitav Ghosh Honoured With 54th Jnanpith Award        Supreme Court sees no wrongdoing in Rafale deal, rules out probe        India bowled a little bit short, Australia pacers could benefit: Border        ISL: FC Goa thrash NorthEast United 5-1        BWF World Tour Finals: PV Sindhu, Sameer Verma Register Easy Wins To Enter Semifinals        Diving legend says HIV-contracted friend inspired him to Olympic gold        India beat Pakistan to reach final of Emerging Teams Asia Cup        Boosting exports key to make India $5-tn economy by 2025: Kant        Prabhu, US Commerce Secretary to discuss trade issues on Feb 14        Ceasefire for key Yemen port agreed at peace talks: UN        Britain's May sees no 'immediate breakthrough' at EU        Poll results prove Ram Temple or communal polarisation doesn't cut ice with people: Sinha        Ashok Gehlot appeals to Cong workers in Raj to maintain peace        Rahul tweets pic with Kamal Nath, Scindia as race for CM moves to Bhopal        Aussies will fight back, but India has upper hand: Ghavri        World Tour Finals: Tough road ahead for Sindhu; Sameer too eyes knockout berth        Govt should consider 100% FDI in multi-brand retail trade: CII report        
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Main News
Modi breaks silence, speaks on Punjab National Bank issue
 
(New Delhi, Feb 24, 2018): Breaking his silence over the Rs 11,400-crore fraud at India's second-biggest public sector bank PNB, Prime Minister Narendra Modi today said his government will take stringent action against financial irregularities and not tolerate loot of public money.

Days after the fraud allegedly masterminded by diamantaire Nirav Modi came to light, the prime minister asked the management of financial institutions as well as the supervisory bodies to do their job diligently to check such frauds.

"I want to make it clear that this government has been taking strict action against financial irregularities and will continue to take strict action," he said at Global Business Summit organised by Economic Times.

"System will not tolerate loot of public money," Modi said.

Nirav Modi, whose diamond creations have draped Hollywood stars such as Kate Winslet and Dakota Johnson, and firms linked to him are alleged to have acquired fraudulent letters of undertaking (LoUs) from one PNB branch in Mumbai between 2011 and 2017 to obtain loans from Indian banks overseas.

Investigative agencies have raided Modi's properties and arrested bank employees.

Without naming either the alleged kingpin of the fraud, billionaire jeweller Nirav Modi, or Punjab National Bank, the prime minister said the management of financial institutions, auditors and regulators should perform their duty with full dedication.

"I want to make an appeal to those who have been entrusted with the job of framing rules and policies and maintaining ethics to do their job diligently and with dedication," he said, adding this should specially be followed by those who have been entrusted with the responsibility of supervision and monitoring.(PTI)


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Christian Michel sent to 5-day CBI custody by court in VVIP chopper case
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K Krishnankutty sworn in as Kerala Water Resources Minister
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Fresh protest in Sabarimala
Sabarimala board to move SC, buy time to implement order
Sabarimala board to move SC, buy time to implement order
Top India, China officials hold defence, security dialogue, agree to step up military exchanges
Flipkart Group CEO Binny Bansal quits over 'serious personal misconduct' charges
70 per cent turnout in first phase of Chhattisgarh polls: EC
KERALA NEWS
Activist Rehana Fathima, Who Attempted Sabarimala Trek, Arrested Over Facebook Post
 (Kochi, Nov 28, 2018): Model and activist Rehana Fathima, who tried to reach Kerala's Sabarim  
Good news for Keralite Nurses: IELTS cut-off reduced to 6.5
BJP leader K Surendran, 71 others granted bail
Sabarimala protests: Arrests up to 2061, Kerala HC warns police
INTERNATIONAL NEWS
Trump's son-in-law Jared Kushner possible next chief of staff: US media
 (Washington, Dec 14, 2018):Donald Trump's son-in-law and senior adviser Jared Kushner is on t
Sri Lanka PM Mahinda Rajapaksa to resign, says his son after court setback
Ceasefire for key Yemen port agreed at peace talks: UN
Britain's May sees no 'immediate breakthrough' at EU
NATIONAL NEWS
Rahul Gandhi After Rafale Verdict: "Will Prove PM Helped Anil Ambani"
 (New Delhi, Dec 14, 2018):Hours after the Supreme Court's clean chit to the government on the
Author Amitav Ghosh Honoured With 54th Jnanpith Award
Poll results prove Ram Temple or communal polarisation doesn't cut ice with people: Sinha
Ashok Gehlot appeals to Cong workers in Raj to maintain peace
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