DSIJ Mindshare

After the sordid Vijay Mallya affair, now comes the Nirav Modi fraud case. These two high profile ‘businessmen’ have between them looted public and private sectors banks of Rs 20,000 crore and fled to foreign shores.

After the previous week's massive slowdown in the markets across the globe, major global indices showed recovery during this week. However Indian markets remained muted as they were dragged down by major banks 

On February 1, 2018, the Finance Minister of India presented the Union Budget 2018-19. The stock market reacted in its own way and BSE Sensex was down by 2.13 percent to 35,501.74 from 36256.83 on the same day. In the last 15 days, the market has corrected gradually by almost 1,200 points and closed at 34,297.47 on February 15, 2018.

While all attentions glared at the dauntingly massive scam of PNB involving Nirav Modi, media reports about another scam in the financial markets surfaced on Friday, involving power transmission and distribution company Diamond Power Infrastructure.

The last three days were disappointing for Punjab National Bank (PNB). Post the discovery of the Rs. 11,000 crore scam, the stock of PNB has fallen more than 20 per cent in the last three trading sessions