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About 22 results for "interbank foreign exchange"

Rupee slips 3 paise to 4-mnth low of 65.20 vs US dollar ahead of Fed meet
Business Standard

Rupee drops 5 paise against US dollar

The rupee dropped by 5 paise to close at 65.02/03 against the US dollar at the interbank foreign exchange market today.The pound sterling also finished higher at 91.76/78 per pound against 90.96/98 earlier.Following are the interbank forex and RBI rates (in ... Business Standard, 1 week ago
Rupee opens 2 paise higher against dollar at 64.87 Business Standard, 1 month ago
Rupee rises 23 paise against dollar in opening trade Business Standard, 1 month ago

PNB fraud: How bank auditors failed to detect the scam

The problem here is that internal auditors are good at accounts, but they are not trained to track foreign exchange transactions Illustration: Dominic Xavier/ Auditors are facing questions over how the fraud at Punjab National Bank (PNB) went on for six years and how they failed to detect it.   The process seems foolproof. A branch such as Mumbai’s Brady House, which is a corporate-focused one, is headed by a branch manager who holds the rank of an assistant general ...
 Rediff.com1 month ago

Non-bailable warrants issued against Nirav Modi, Mehul Choksi

The issuance of NBWs by a court also opens door of seeking Red Corner notices against both of the accused from the Interpol. Must Read: The Great Diamond Heist   A special Central Bureau of Investigation court in Mumbai has issued non-bailable warrants against billionaire diamantaire Nirav Modi and his uncle Mehul Choksi in connection with the cases related to over USD 2 billion banking fraud in the Punjab National Bank, officials said on Sunday. The special court has allowed the ...
 Rediff.com1 week ago NBWs issued against Nirav Modi, Mehul Chowksi  Rediff.com1 week ago NBWs issued against Nirav Modi and Mehul Choksi on CBI plea  Deccan Herald1 week ago

Indian Indices Trade Marginally Higher; Metal Sector Up 3.7%

Posted by Equitymaster Stock markets in India are presently trading marginally higher. Sectoral indices are trading on a mixed note with stocks in the metal sector and IT sector witnessing maximum buying interest. The BSE Sensex is trading up 87 points (up ...
 Equitymaster.com2 days ago Sensex scales 331.09 pts higher, Nifty at 11,155.35  Sify2 months ago

'Govt banks rarely take note of RBI directives'

'For years, the RBI has been warning banks on probable frauds in bank guarantees and advised them to exercise due care.''PSB staffers feel their jobs are secured, hence there is no need to be vigilant and exercise financial prudence.' IMAGE: Central Bureau of Investigation agents escort a Punjab National Bank employee allegedly accused of steering fraudulent loans to companies linked to billionaire jeweller Nirav Modi outside a Mumbai court, March 3, 2018. Photograph: Francis ...
 Rediff.com3 weeks ago

Must Read: The Great Diamond Heist

'If there is any industry that is unfit for modern corporate form it is the diamond trade.''But no one was asking the right questions.''The music was playing and so the game was on,' says S Murlidharan, former managing director, BNP Paribas. The newspapers are full of stories of how billions vanished from the vaults of PNB. The carefully coiffed young ladies and gents of sundry financial television channels are frothily holding forth on this affair with more anger and indignation than facts ...
 Rediff.com1 month ago
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