Letters of Undertaking | Zee News

Advertisement

NewsLetters of Undertaking

Letters of Undertaking News

02 Apr 2018

Exporters may get relief soon as FinMin asks RBI to review decision on LoU ban

RBI last month banned issuance of LoUs and Letters of Comfort (LoC), used extensively for trade finance, following the unearthing of Nirav Modi fraud case.

30 Mar 2018

Banks write to RBI post LoU ban; seek relief for small and medium enterprises

Reserve Bank of India this month banned issuance of LoUs and Letters of Comfort (LoC), used extensively for trade finance, following the unearthing of Nirav Modi fraud case.

14 Mar 2018

PNB scam fallout: RBI bars banks from issuing LoUs, LoCs

The change in regulations may hit import dependent businesses and trade that are often reliant on LoUs to get bank guarantees.

27 Feb 2018

PNB scam may be bigger; bank says it could rise to more than Rs 12,700 crore

The scam was perpetrated by way of fraudulent Letters of Undertaking (LoUs) generated in the name of Punjab National Bank.

Finance Ministry

23 Feb 2018

Finance Ministry writes to Hong Kong banks over PNB LOUs

The development comes over the PNB fraud case worth over Rs. 11,000 crore, which was allegedly committed by famous jeweller Nirav Modi.

Letters of Undertaking

15 Feb 2018

PNB identifies lenders over LoUs issued in Nirav Modi fraud case

The LoUs were issued on behalf of Diamond R US, Solar Exports, Stellar Diamonds.

Loading...

NEWS ON ONE CLICK