Russia-Ukraine war: US, EU, UK to sanction Moscow's central bank, block SWIFT
The US has succeeded before in persuading the Belgium-based SWIFT system to kick out a country, Iran, over its nuclear program. But kicking Russia out of SWIFT could also hurt other economies, including those of the US and key ally Germany.
Feb 27, 2022, 07:00 AM IST
Reform state-run banks, IMF tells India after PNB fraud
IMF said that banking reforms like insolvency code and recapitalisation will be ineffective unless governance standards are improved.
Mar 12, 2018, 22:51 PM IST
PNB fraud: Here's how Rs 12,700 crore scam affected trade, financial activities
However, bankers feel that there will not be a complete freeze so that a genuine businessman's operations are affected.
Mar 04, 2018, 17:18 PM IST
PNB fraud: RBI gives banks April 30 deadline to improve SWIFT safety, link it with CBS
RBI said that it had alerted banks three times since August 2016 for a possible misuse of the SWIFT infrastructure.
Feb 24, 2018, 21:24 PM IST
PNB fraud: UCO Bank says has $411.82 mn outstanding exposure
PNB, the second-largest public sector bank in India, had detected the $1.8 billion fraud in one of its branches in Mumbai.
Feb 17, 2018, 23:53 PM IST
After PNB, City Union Bank says hit by Rs 12.8 crore fraud caused by SWIFT system
Just like the PNB fraud, no entries of remittances were made in the ledgers of City Union Bank.
Feb 17, 2018, 22:35 PM IST
How PNB fell victim to India's biggest bank fraud: All you need to know
The fraud, by far the biggest ever detected by an Indian bank, comes to light at a time when lenders, especially the state-run banks are hobbled by $147 bn in soured loans on their books.
Feb 15, 2018, 17:56 PM IST
