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Thursday, April 30, 2026
TopicPNB

Topic: PNB

After 3 scandals in 3 years, PNB plans an image makeover, expects profits

Fraud-hit PNB is clearing a backlog of provisions and expects to post net income in every quarter of fiscal 2020-21.

Nirav Modi begins legal battle to stop his extradition to India from UK

On second day of week-long hearing in London, Modi’s lawyer sought to cast doubt on allegations the jeweller fraudulently procured guarantees from PNB.

‘Need a stadium, not a courtroom’ — 70,000 page Bhushan Steel chargesheet names 284

Bhushan Power and Steel had defaulted on a Rs 47,700-crore loan in 2017. Last week, PNB alleged it had also committed a Rs 3,815 crore scam.

PNB reports another NPA scam of Rs 38 billion, after the massive Nirav Modi fraud last year

Punjab National Bank reported the new fraud to the Reserve Bank of India. The fraud took place at its Chandigarh branch, and in its Hong Kong and Dubai offices.

‘Modi’s ouster on 23 May will be India’s fitting reply to the most foul-mouthed PM’

A selection of the best news reports, analysis and opinions published by ThePrint this week.

Smaller banks to be merged with PNB & Canara Bank in next round of consolidation

Finance ministry officials say mid-sized and small government lenders have been identified for separate merger processes with PNB and Canara Bank.

PNB finally emerging from Nirav Modi, Mehul Choksi’s shadow, reports profit

Punjab National Bank reports Rs 247 crore profit for December quarter, first since being afflicted by the Modi-Choksi scam in January last year.  

Union Bank of India pulls out of ‘fraud-hit’ diamond hub Antwerp

The viability of the branch isn't established because of low business, particularly from the diamond sector, says CEO Rajkiran Rai Gundyadka.

Scandal-hit PNB wants south Indian banks to help revive its fortunes

Turnaround plan includes acquiring other PSU banks that have a strong presence in south India.

Nirav Modi seeks political asylum in UK, ED seeks extradition

ED has written to the external affairs ministry seeking approval to move an application in the UK to initiate extradition proceedings against Modi.

On Camera

History of Indians in the Arab world—port builders, Jat governor, translators, and slaves

From the buffalo herders who built one of the world’s greatest medieval ports to academics translating Sanskrit works, here is one part of the history of Indians in the Arab world.

Adani’s giant copper plant hits technical setbacks in first year

The 500,000 tonne-per-year plant produced just 94,000 tonnes of refined copper from April 2025 to February this year.

Indian drone tech company ideaForge signs MoU with Japanese firm to develop next-gen AI powered drones

By pairing Indian drone engineering with Japanese semiconductor expertise, the two firms aim to develop more advanced autonomous systems tailored to both defence & commercial use.

Trump, Netanyahu’s Iran gamble: The regime change rebound

American objectives are unmet. They neither have muscle nor motivation to resume the war. As for Iran, the regime didn’t just survive, it’s now led by more radical individuals.