Home World Business News Digest: Rs 114-bn PNB fraud, Modicare, Airtel Africa listing, and more

News Digest: Rs 114-bn PNB fraud, Modicare, Airtel Africa listing, and more

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Delhi-based Punjab National Bank (PNB) said on Wednesday it had been defrauded of about Rs 114 billion

BS Web Team  Last Updated at February 15, 2018 03:07 IST

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 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 More Trump 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 More Africa 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 More States 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

First Published: Thu, February 15 2018. 03:01 IST

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