Fraudulent money transfer: Delhi High Court asks PNB to deposit Rs 45 lakh

PTI Jun 23, 2013, 11.48AM IST

NEW DELHI: The Delhi High Court has asked a nationalised bank to deposit with it Rs 45 lakh, awarded as damage in an illegal fund transfer case, till the final disposal of its appeal.

The court stayed the Maharashtra adjudicating officer's February 25 order which asked Punjab National Bank (PNB) to pay Rs 45 lakh to Poona Auto Ancillaries as a fraudster transfered Rs 80.10 lakh from the PNB account of the MD of the Pune-based firm.

The vacation bench of Justice Sanjeev Sachdeva asked the bank to deposit the damage amount with theRegistrar General of the high court till the final disposal of its appeal.

"Operation of the impugned order be stayed subject to the petitioner deposits Rs 45 lakh with the RG of this court," the court said.

Issuing notices to the ministries of Commerce and Information and Technology, the court sought their replies by August 13.

The Centre's counsel Sumit Pushkarna accepted the notices. The court order came on an appeal filed by PNB against the adjudicating officer's order on the complaint of Poona Auto Ancillaries under the Information and Technology Act alleging fraudulent transfer of funds from its current account with PNB branch Pune to the account of M/s Sutlej Textile with the PNB's Kathua branch in Jammu and Kashmir in August 2011.

According to the complainant company, the amounts were transferred in 40 transactions of Rs 2 lakh each and one transaction of Rs 10,000 in quick successions.

Canara Bank unveils eLounge, eLobby services

   L N Revathi :BL :COIMBATORE, JUNE 25:2013

  

 

Have you dreaded going to a bank’s branch for some reason or other? 

Well, you may not have to wait indefinitely to get into the ‘do-it-yourself’ act, if you are a customer of Canara Bank.

The bank’s latest technology initiative — the eLounge or eLobby — aims to help the customer do all his transactions, including pass book updation himself.

“There will be no manual intervention,’’ said R.K. Dubey, Chairman and Managing Director of Canara Bank.

While the eLobby service will be available round-the-clock, all through the year, it will not be available at the customer’s door-step. Rather, the bank is planning to set up the facility in its own premises.

Canara Bank has already launched the eLounge service in Bangalore and Delhi. Dubey indicated that the bank would look to create one in each city, including Coimbatore.

The eLounge will have a cash dispensing machine, cash deposit and cheque deposit unit, passbook printing machine, an online trading terminal and another machine working like an eKiosk, for Internet banking operations, he said.

While the initiative is expected to lure tech-savvy customers, Dubey made it clear that proper use of the eLounge alone would help the bank benefit from the roll-out of such an initiative.

(This article was published on June 25, 2013)

Keywords: Canara Bank, eLounge service, eLobby service, Canara Bank new tech initiative,