PNB case: Will take appropriate supervisory action, says RBI
The Reserve Bank today said it has already undertaken an assessment of control systems at scam-hit Punjab National Bank and will take “appropriate supervisory action”. The country’s second largest state-run lender has been rocked by a Rs 11,400-crore fraud allegedly involving billionaire diamantaire Nirav Modi. In a statement, the central bank said it has already undertaken a supervisory assessment of control systems in Punjab National Bank (PNB). “The fraud in PNB is a case of operational risk arising on account of delinquent behaviour by one or more employees of the…
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