23
Sunday
September 2018
2:17 PM IST
News Headlines
Hasan, Asghar, Rashid fined 15 per cent of their match fees        Ready to be sacked if ATK do not fare well: Coppell        Sensex ends in red after 1,000-pt flash crash        OYO to hire over 2,000 tech experts, engineers by 2020        Thousands rally across Russia against raising pension age        Pak PM Imran hits out at India, calls its response "arrogant" for cancelling talks        Sisodia, AAP MLAs discharged in case related to 2014 protest        We have no role in selection of Reliance Defence for Rafale deal: Govt        Modi, Ambani carried out Rs 1.3 lakh cr 'surgical strike' on defence forces: Rahul on Rafale issue        Chekka Chivantha Vaanam: Second trailer released        Golden Globe Race: Indian Navy Officer Abhilash Tomy injured; INS Satpura dispatched for rescue        India Calls Off Talks With Pak, Says "Imran Khan's True Face Exposed"        Indian govt wanted Reliance for Rafale, we didn't have a choice: Ex-French prez Hollande        Wreckage of Captain Cook’s ship found off US coast        Death toll reaches 136 in Tanzania ferry disaster with scores missing        Ravindra Jadeja, Rohit Sharma take India to comprehensive 7-wicket win        Naomi Osaka Eases into WTA Tokyo Event Semi-final        Let the boundaries go away: Pakistani youth sings Jana Gana Mana with full respect        Three kidnapped cops killed by terrorists in Jammu and Kashmir        Freak penne trending with dislikes and trolls        
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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)


Modi, Ambani carried out Rs 1.3 lakh cr 'surgical strike' on defence forces: Rahul on Rafale issue
Golden Globe Race: Indian Navy Officer Abhilash Tomy injured; INS Satpura dispatched for rescue
Cabinet clears ordinance to make triple talaq penal offence Law Minister
Goa Cong MLAs to meet Governor to seek dismissal of Parrikar govt
Court summons Lalu, others as accused in IRCTC money laundering case
SC awards Rs 50 lakh compensation to space scientist Nambi Narayanan in ISRO espionage case
Met Finance Minister Before Leaving Country, Says Vijay Mallya
Worried About Rupee Drop, India Considers Tapping NRI Wealth
SC dismisses plea to ban book 'Meesha', says craftsmanship of writer deserves to be respected
Modi blames UPA govt for bad loan mess, says every penny will be recovered
Activist's letter spoke of "Rajiv Gandhi-like" event: Police
PM owes people answer on why he inflicted demonetisation wound: Rahul
Rahul flays Centre for not providing adequate aid to flood-hit Kerala
Activists arrested in police raids in five states over alleged Maoist links
India, Pakistan to resume talks on Indus Waters Treaty in Lahore this week
Ambani asks Cong leaders to 'cease & desist' from speaking on Rafale; Party says won't be cowed down
Centre to Supreme Court: ‘Decision taken to reduce Mullaperiyar water level’
Former PM Atal Bihari Vajpayee
Half of Kerala reels under floods as 29 die, 54,000 are homeless
Idukki dam: All five shutters opened
KERALA NEWS
Kannur International Airport: Kerala to be the first state with four international airports
 Malappuram: With Kannur International Airport becoming operational, Kerala will be the first state i  
Bar bribery case: Court dismisses the vigilance report
State Kalolsavam to be held in December
Actor Captain Raju passes away at 68
INTERNATIONAL NEWS
Thousands rally across Russia against raising pension age
 Moscow, Sep 22 (AP) Thousands rallied across Russia on Saturday to protest the government's plan to
Pak PM Imran hits out at India, calls its response "arrogant" for cancelling talks
Wreckage of Captain Cook’s ship found off US coast
Death toll reaches 136 in Tanzania ferry disaster with scores missing
NATIONAL NEWS
Sisodia, AAP MLAs discharged in case related to 2014 protest
 New Delhi Sep 22 (PTI) A Delhi court on Saturday discharged Deputy Chief Minister Manish Sisodia, AA
We have no role in selection of Reliance Defence for Rafale deal: Govt
India Calls Off Talks With Pak, Says "Imran Khan's True Face Exposed"
Indian govt wanted Reliance for Rafale, we didn't have a choice: Ex-French prez Hollande
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