Maha Bankbandhan II: PNB, Union Bank, Bank of India may be merged next

After the merger of Bank of Baroda, Vijaya Bank, and Dena Bank in October last year, some more public sector banks may soon receive an invitation from the government to discuss another round of mergers in the sector, according to news reports. These may include Punjab National Bank (PNB), Union Bank of India (UBI) and Bank of India (BoI). Continue Reading

Nirav Modi’s firms are ‘not mere victims’ but, ‘active participants’ in fraud: PNB

Punjab National Bank has told a US bankruptcy court that it suspects Nirav Modi controlled US firms Firestar Diamond, Fantasy and A Jaffe are not mere victims of circumstance but instead ‘active participants’ in the massive billion-dollar fraud perpetrated over seven years by Modi and his uncle Mehul Choksi. Continue Reading