Search For "lous"
RBI discontinues LOUs/LOCs issuance for trade credit for imports
Updated : 8 years ago IST
New Delhi [India], Mar 13 (ANI): The Reserve Bank of India (RBI) on Tuesday announced discontinuation of the issuance of Letters of Undertaking (LOUs) and Letters of Comfort (LOCs) for trade credit for imports with immediate effect.
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'Finance Ministry writes to Hong Kong banks over PNB LOUs'
Updated : 8 years, 1 month ago IST
New Delhi [India] Feb 23 (ANI): Finance Ministry has written to Hong Kong branches of four Indian banks that received letters of undertaking (LoUs) from Punjab National Bank (PNB), said sources on Friday.
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Nirav Modi aide Vipul Ambani was aware of fraud LoUs: CBI
Updated : 8 years, 1 month ago IST
Mumbai (Maharashtra) [India] February 22 (ANI): The Central Bureau of Investigation (CBI) on Thursday said Head of Finance Department of Firestar Group of Companies of Nirav Modi, Vipul Ambani was fully aware of the fraudulent and illegal Letter of Undertakings (LoUs), in connection with the
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PNB identifies lenders over LoU's issued in Nirav Modi fraud case
Updated : 8 years, 1 month ago IST
New Delhi [India], Feb 15 (ANI): It has emerged that the fraudulently issued Letters of Undertaking (LoUs) from the Mumbai branch of Punjab National Bank (PNB) were in favour of Hong Kong branches of Allahabad Bank and Axis Bank, that helped facilitate Rs 280.7 crore fraud by jewellery desig
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