PNB names Nirav Modi and Gitanjali Gems in the mega Rs 114-bn fraud In what may turn out to be one of the biggest scams in the country’s corporate history, Delhi-based Punjab National Bank (PNB) said on Wednesday it had been defrauded of about Rs 114 billion by jeweller Nirav Modi, his maternal uncle Mehul Chinubhai Choksi, and other relatives through a clutch of companies they own. Read MoreTrump slams India’s 50% import tariff on Harley-Davidson, calls it ‘unfair’ US President Donald Trump on Wednesday criticised India for imposing a high import duty on the iconic Harley-Davidson motorcycles and threatened to increase the import tariff on “thousands and thousands” of Indian motorcycles to the US. Read MoreAfrica listing positive for Bharti Airtel, will help firm to take on RJio Bharti Airtel International Netherlands’s (BAIN’s) decision to look at a possible listing for its Africa operations might be positive for Bharti Airtel.
While it would not bring about any changes in the Africa operations, a listing will help Airtel raise additional funds. Read MoreStates reluctant to push Modicare over own health insurance schemes The roll-out of the Union government’s ambitious new health insurance scheme could face rough patches, as many states, including those with Bharatiya Janata Party (BJP) governments, are reluctant to withdraw their current schemes in its favour. Read More