The price is at a 4-year low, stabilising around Rs 25,000/10gm.
Bank provides for Rs 7,178 crore, or 50 pf of the total amount of the Rs 14,356 crore scam, in the fourth quarter of 2017-18. The remaining amount will be covered in the three quarters of the current fiscal year.
The Singapore high court has put a freeze on deposits of $ 6.122 million following Enforcement Directorate's request on the ground that the money was "proceeds of crime" illegally siphoned off by Nirav Modi from the Punjab National Bank.
Demand bounces back but uncertainty over GST rate for jewellery casts a shadow over future.
'One cannot avoid speculating whether there was something else at play that led to the uncovering of this saga.'
Among the seizures were Indian masters such as FN Souza, VS Gaitonde, SH Raza, Amrita Sher-Gil and Akbar Padamsee, sculptures from Italy and the US, Chinese artwork and masterpieces by Xu Lei and Zeng Xiaojun.
The ED conducted further searches at 21 locations across India.
Fugitive Diamantaire Mehul Choksi who is held in Dominica after his mysterious disappearance from Antigua and Barbuda has alleged that his "friend" Barbara Jabarica was instrumental in his abduction which involved musclemen claiming to be Antiguan Police and mercenaries looking like Indians. The police have started the investigation after receiving a complaint from Choksi, Antigua Prime Minister Gaston Browne said.
Finance Minister Arun Jaitley revealed that the government wanted to give Hasmukh Adhia a post-retirement role, but Dr Adhia said he would not work for a single day after November 30.
Precious ornaments are estimated to become 3% costlier under GST
Modi has been relentless in building his brand regardless of banks having a problem of fraudulent and unauthorised transactions with his companies.
It has registered 2,000-plus money laundering cases and about 12,000 forex violation ones in the 14 years since it was established. Yet, its probes have resulted in no more than 13 convictions from nine cases of money laundering since 2005.
While in custody and until the first hearing in his extradition case next week, Modi is likely to be held in a separate cell but may also have to share a cell with other prisoners given the overcrowding pressures.
The agency has written to the Interpol to issue a Red Corner Notice which would mean that the member countries of the Lyon-based international police cooperation agency can arrest and extradite Nirav Modi
The move takes the process of extraditing and bringing back Nirav Modi to face the law in India to the next stage, the sources said.
Gandhi said Modi had "claimed that he wants to be a 'chowkidar' (watchman of the country) but he actually proved to be a 'chowkidar' of Anil Ambani, Mehul Choksi and Nirav Modi and has been working for them since last four years."
Gold was Rs 28,100 per 10 gm on July 26, 2014.
According to RBI's circular, cases of frauds involving more than Rs 25 crore and up to Rs 50 crore should be given to the CBI's Banking Security and Fraud Cell
'If you give your ID and password to somebody else, how can anybody blame the technology for that problem?'
"Our preliminary estimates show we may have to provide for around Rs 60 billion in the balance sheet for the quarter ending on March. The due date for LoUs amounting to Rs 60 billion is falling in the present quarter. This will be a contingent liability for the bank," said a senior executive, on condition of anonymity.
The CBI on Wednesday directed him to contact the embassy of India in a country where he is staying so that his travel to India can be arranged
Nultiple regulators are probing the nexus of scamsters with diamonds after a state-run bank got defrauded of $1.8 billion by designer jeweller Nirav Modi.
A list of at least 20 individuals has been sent to the immigration department to prevent them from flying overseas.
The Bad Boy Billionaires series has a lot in common: The three billionaires' hefty ambition, dangerous arrogance and untrammeled power, observes Dhruv Munjal.
The Bill provides comprehensive legislation to prohibit unregulated deposits, with punishment for those promoting such schemes or defaulting on repayment.
The Reserve Bank of India also banned with immediate effect issuance of letters of comfort which, like LoUs, are used by importers to fund their overseas purchases.
The ED on Monday also examined the state-owned bank's executive director K V Brahmaji Rao to understand how the alleged fraud was detected and other banking procedures.
The judge fixed April 26 as the next date of hearing when he will appear via video link from jail.
Between April and August, it issued request seeking LoC against 147 individuals to prevent them from leaving the country, the bank said in response to a Right to Information query filed by Pune-based activist Vihar Durve.
The 91.9 per cent slide in the stock price of Gitanjali Gems since April has depleted the value of promoter Mehul Choksi's holding in the company by at least Rs 17 crore (Rs 170 million) a day on an average.
The RBI will take action against, apart from erring auditors, those responsible for wrong information in a bank's financial statements, incorrect certification given by auditors, wrong information given in the Long Form Audit Report, and any other violations of the RBI's rules and regulations on auditing.
The meeting is expected to chart a road map for cleaning up their balance sheets and boost credit flows, reports Somesh Jha.
Nirav Modi and his uncle Mehul Choksi are being investigated by the Enforcement Directorate for allegedly cheating the PNB, the country's second largest lender, to the tune of more than $2 billion.
The Congress that had announced a list of 218 candidates in one go for the 224 member Karnataka legislative assembly on April 15, had kept the names of candidates for six seats on hold.
A common feature in India is the lag between the occurrence of frauds and the time they are actually reported.
Tax sleuths have detected over Rs 52 crore of unexplained cash in jewellers' bank accounts
'There are so many issues that the CVC is examining both with reference to the PNB and RBI,' K V Chowdary said.
Besides Joseph, one of the lawyers defending Michel is a member of the Congress' youth wing while the father of another is a party member, Patra claimed at a press conference.
He claimed the NDA government bought the planes at Rs 1,600 crore a piece as against the Rs 526 crore for each aircraft fixed by the UPA.
Surjewala alleged that Mehta and his family were allowed to leave India even when there were complaints pending against him with the CBI.
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