By his own admission, Managing Director of the PNB Sunil Mehta on Thursday revealed that they detected the Rs 11,400-crore Nirav Modi fraud in the third week of January and reported the matter to the CBI on January 29. But shockingly, the bank’s management neither informed the shareholders about the scam in the PNB Board meeting on February 6 nor did it report the matter to the Security and Exchange Board of India (SEBI) for another two weeks.

NEW YORK: Bitcoin rose above $10,000 on Thursday for the first time in more than two weeks, as investors bought back the digital currency after having fallen 70 percent from its all-time peak hit in mid-December.

Bitcoin has been buffeted this year by a series of negative headlines centering around increased scrutiny by global regulators. There has also been the incidence of hacks on exchanges, the latest being the theft of roughly $532.9 million in digital money from Tokyo-based cryptocurrency exchange Coincheck a few weeks ago.

Mumbai: Axis Bank on Thursday indicated that it no longer has any exposure to the Rs 11,400-crore fraud detected at PNB.

Responding to reports of undertaking buyer's credit transactions with PNB, Axis Bank said in the normal course of business, it carries out such transactions against letters of undertaking (LoUs) issued by other banks through its overseas branches.

New Delhi: Auto major Mahindra & Mahindra (M&M) on Friday said it will invest up to Rs176 crore in car and bicycle rental firm Zoomcar India or Zoomcar Inc., its US incorporated holding parent company.

Under the aegis of the deal, Mahindra Group would invest up to Rs176 crore in Zoomcar India or Zoomcar Inc. which, when converted to common stock of Zoomcar Inc. on a fully diluted basis, would constitute approximately 16% stake in Zoomcar Inc., the company said in a statement.

Mumbai: Aditya Birla Group expects savings from the merger between group company Idea Cellular Ltd and Vodafone Group Plc’s India unit to be significantly more than the $10 billion it forecast in March last year, group chief financial officer Sushil Agarwal said in an interview.

The benefits accruing out of the Idea-Vodafone merger will increase on account of savings made by both Idea Cellular and Vodafone India Ltd because of synergies in capital and operating expenditure as the group now expects the merger to be completed much before the original deadline of September 2018.

The benchmark BSE Sensex advanced by over 196 points in early trade today on buying by institutional and retail investors in IT, banking and FMCG stocks.

Asian markets were trading in the green following positive lead from Wall Street as investors continued to shun inflation worries.

Volvo’s V60 was scheduled to make its global debut on the 21st of February 2018, but only a few hours after Volvo published the first teaser images for the V60. The internet produced some pretty revealing images of Volvo all new wagon. First published by a website AutoMotoSvijet magazine from Bosnia and Herzegovnia, before promptly coming down. These images seem to indicate the next generation of Volvo’s V60 station wagon. A closer look at the images which shows the car in side profile, shows a V60 that is almost as large as its larger sibling the V90.

Global technology giant Microsoft on Thursday announced the launch of a $500 million programme that delivers access to technology, go-to-market and community benefits to help start-ups grow their customer and revenue base.

“We are committing $500 million over the next two years to offer joint sales engagements with start-ups, along with access to our technology, and new community spaces that promote collaboration across local and global ecosystems,” said the company.

PNB Housing Finance (PNB HFL) is planning to raise $400 million through its maiden issue of masala bonds.

The money will be utilised to finance retail buyers/developers of affordable housing as well as developers of green buildings.

PNB fraud, the biggest banking scam in India, has yet again put focus on those offenders who fled the country after committing the crime. Here’s a look at those who left India after their names surfaced in major economic offence:

1: Vijay Mallya: The ‘king of good times’ fled the country and is currently hiding in London. In India, Mallya faces several cases. The biggest case against him is how his Kingfisher Airlines defaulted on loans to the tune of Rs 9,000 crore from the banks in India.

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