While PNB did not name the other lenders, Union Bank of India, Allahabad Bank and Axis Bank are said to have offered credit based on letters of undertaking (LOUs) issued by PNB. Foreign bank branches too are under investigation.
The lockdown that crippled the entire logistics, delivery and supply chain network to near zero, was enough to deal a body blow to India's fastest growing unicorn whose very business model saw a severe disruption, like several other firms and sectors.
The home ministry said exercising the powers conferred under Foreign Contribution (Regulation) Act, the registration of Sabrang Trust has been suspended for a period of 180 days with effect from September 10, 2015.
Allegations abound that traders milked the scheme to artificially keep prices down, while a significant amount of growers didn't even register owing to multiple difficulties in registration and were deprived of the payout.
Depending on your liquidity requirement, invest in the right debt instruments.
World Bank's Doing Business Indicators ranks India (out of 189) at 132 for trading across borders.
I-T lens on current account deposits over Rs 12.5 lakh. All the news and more post demonetisation.
Overseas funds have also become strong buyers of debt, with net purchases of $5.6 billion so far this year.
'The corporate tax cuts will obviously result in lower tax payments by companies,' says Central Board of Direct Taxes member Akhilesh Ranjan who retires after 37 years in government service.
The finance ministry and the RBI have performed many somersaults in these last 42 days.
'If I had to highlight one area that will do well, it is the financial assets -- that is the private sector banks, insurance and mutual funds.'
If the impact of the Greece crisis spreads across Europe and parts of the world which are more interconnected than ever before, India cannot hope to be insulated, says Paranjoy Guha Thakurta.
Some big ones hoard cash unduly and others borrow to keep up payments to shareholders
A time has thus come when state encouragement for rural students led to empowerment of the socio-economically marginalised sections of the population. It included women. Today, with greater exposure and consequent enlightenment, it has gone beyond 'empowerment' to become 'entitlement', says N Sathiya Moorthy.
The Central Board of Direct Taxes is set to rationalise I-T rules.
'The sooner Pakistan and India face these geopolitical realities, the better it will be for their own security and prosperity,' observes Ambassador M K Bhadrakumar.
The nullifying of the NJAC Act has put the spotlight on the Judiciary. Concepts like transparency, being open to change, leading from front, management of perceptions that were reserved for the Executive earlier are now relevant for the Judiciary as well, says Sanjeev Nayyar.
'The stimulus message was tagged on to what was meant to be an exhortation to self-reliance, glossing over the near impossibility of merging the immediate requirement of relief for a huge population and a questionable strategy for the future trajectory of a large economy aspiring to superstardom,' points out Shreekant Sambrani.
The principal challenge for Rajan's successor is to work with the Bank Board Bureau and the finance ministry to complete these processes of banking reform.
Here's the full text of Prime Minister Narendra Modi's address to the nation where he announced the demonetisation of Rs 1,000 and Rs 500 notes with effect from midnight on November 8-9.
'The mindset of people needs to change.' 'We still believe in accepting cash when we can do business with digital money as well.'
The 30-share Sensex and the 50-share Nifty ended flat at the mark of 29,008 and 8,767 respectively.
Compared to their Indian peers, MNCs have higher return ratios.
Industry says though most pending issues have been deliberated upon by Tourism ministry, they are yet to be implemented
If GDP growth in Q2FY18 remains below 7%, the outlook for Samvat 2074 would remain uncertain at best, says Nitin Desai.
If borrowers don't have access to a bank's credit facility, it could make sense to use peer-to-peer systems.
City police, metros, airports, even power utilities are using pop culture and social media to reach the young and encourage public ownership of public services. Amritha Pillay reports.
Only double-income households can buy flats in India's top 8 cities, except Mumbai
Yashwant Sinha explains where the Modi government has gone wrong in its handling of the economy.
In a major crackdown on domestic shell companies, the government on Friday decided to take "harsh punitive" action, including freezing of their bank accounts used to launder money or evade taxes.
Harsh Roongta, Mahesh Padmanabhan, Anil Rego answer the most sought after questions on Budget Day.
Gandhiji inspired the nation to believe in their dream. He continues to be an inspiration to each one of us by making us believe in our dreams. Make that home loan work for you and don't give up till you sign on the dotted line for owning your dream home.
He said the bearer bonds can be purchased by corporate donors and donated to political parties without revealing their identity.
An interplay of Modi government's outreach in Bihar and the sequence of events in Chirag Paswan's life could make Bihar a game of musical chairs when the results are out.
Here's the full text of President Ram Nath Kovind's customary address to the joining sitting of Parliament on the first day of the budget session.
The Public Provident Fund is one of the safest and convenient modes of investment.
The Supreme Court on Friday asked Sahara and SEBI to formulate mechanism for securing payment of around Rs 19,000 crore (Rs 190 billion) of investors' money after the Subrata Roy-led group agreed to pledge it's immovable property as security but the market regulator questioned the sale deed and worth of the properties.
Reserve Bank of India (RBI) Governor Raghuram Rajan spoke on a host of issues at his last post-policy interaction with the media
Increase of 10% to 12% likely in a bid to improve citizens' mood after demonetisation.
Converting what was supposed to be an interim budget or a vote on account into an almost full-fledged budget announcement in the Lok Sabha, Finance Minister Piyush Goyal proposed an array of incentives for both middle-class and farmers, whose disenchantment was said to have cost the BJP dearly in recent assembly elections.
