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"We have initiated the removal of 3 board level officers, 2 ED officers of Punjab National Bank and 1 MD of Allahabad Bank", DSF secretary Rajiv Kumar said. "Usha Ananthasubramanian, who was the managing director of PNB from 2015 to 2017, has been named because she and some other senior officials did not implement the RBI's circular and a caution notice regarding measures to safeguard transactions".
One of the sources said K.V. Brahmaji Rao and Sanjiv Sharan, both executive directors at PNB, were also named, marking the first batch of formal charges to be filed in the $2 billion fraud case. The charge sheet has been filed under sections of cheating and conspiracy of the Indian Penal Code and relevant sections of the Prevention of Corruption Act, 1988.
"The (PNB) board has chose to divest EDs of the functional and financial responsibilities and have also requested the government to replace them", Kumar said, adding the government is committed to taking strict action against erring officials. She was the CEO and MD of PNB in 2016 when the fraud allegedly took place.
Rs 7579 crore in gross NPA addition was due to the Nirav Modi fraud; Rs 10,237 crore was due to RBI's new stressed asset circular.
The Reserve Bank of India had sent a questionnaire to the officials seeking to know the status of LoU issuing process in their bank which was responded to by Ahad in concurrence with his seniors including Ananthasubramanian in which he had stated that all was well in the bank, they said.
India decline Adelaide Test day-nighter
Australia play four Tests against India this upcoming summer, as well as three Twenty20 internationals and three one-dayers. South Africa was initially reluctant to play their day-night match in 2016 sighting an extra advantage for the home team.
"As on 31 March 2018, 28 accounts were falling under the purview of this framework for which bank has made provision of Rs 31.2 billion", PNB said.
"The moment I have definitive information either from the regulation side, supervision side or investigation side, the government will not hesitate in taking action to protect people's trust in the banking system", he said.
The officials said supplementary charge sheets will have information from foreign governments, shell companies, foreign banks, and detail the role of officials posted in foreign branches of Indian banks which issued credits to Modi's firms on the basis of PNB LoUs etc.
India's Punjab National Bank (PNB) is all set to announce its fourth quarter results today.
It is alleged that Modi and Choksi, in connivance with the then PNB deputy manager Gokulnath Shetty, transgressed banking procedures and fraudulently caused PNB "wrongful" loss. We had questioned some PNB Officials some days back over PNB fraud, SWIFT Issue. At NSE, shares of the company dived 6.10 per cent to close at Rs 83.85.
Analysts, who had estimated the US could impose a fine of up to $12 billion, said the bank could reinstate a dividend. The Bank of England has marched investors up to the top of the hill only to march them back down again.
But he's also signaled that the festival is reanalyzing its procedures and is making its selection committees gender balanced. Inside the energy was electric, with the DJs blasting "I'm Every Woman" as the crowd waited in line.
Blankenship, who has poured millions of dollars into state elections, vowed he would not support Morrisey in the general election. Mary Taylor likened him to Democrats Barack Obama and Hillary Clinton and questioned his loyalty to President Donald Trump .
Soon it became just one Ferrari in the hunt for a podium finish as Kimi Raikkonen was forced to retire with mechanical issues. I know it sounds weird but today is the closest I think I've been but there are still areas that weren't quite ideal .
Today, a guy like [Tottenham striker] Kane, I don't know for much they can sell him for - £100m? 'So they could get extra provide. It will be tricky for Tottenham to balance being competitive and successful and balancing the books in the coming years.
The patch addresses the.NET framework issue in Windows 10 through to Windows 7 and Windows Server 2016 to Windows Server 2012. You will be able to now pin the items from the clipboard along with being able to directly paste from the clipboard history.
And this morning two engineers and a pilot from the Air Accident Investigation Unit will continues their inquiry in County Offaly. It is noted that the flight took place on the territory of the parachute club, the causes of the crash are being investigated.
Lebanese media are reporting that the Shia parties Amal and Hezbollah are expected to win 16 and 13 seats respectively. Preliminary unofficial results show Hezbollah and its political allies have won more than half of the seats.
The Mets now have seven days to either trade Harvey or release him and allow him to find a new team as a free agent. It's something we tried to address, we struggled with, and we wrestled with over two managerial regimes.
NASA Is Sending a Helicopter to Mars
But JPL has made sure that the Mars Helicopter has everything it needs to courageous the rough environment on the Red Planet . The Mars helicopter will not be manned, but it will operate autonomously, in a way similar to a flying drone here on Earth .
Google Cloud is ready for the GDPR
Our ambition is to have the highest possible standards of data security and privacy, and to put our users and partners in control. The GDPR places new obligations on Google , but also on any business providing services to people in the EU.
SpaceX Bangabandhu Satellite-1 Mission set for Thursday launch
Going into Thursday's launch, SpaceX's landing record stood at 24 successful booster recoveries, 12 on land and 12 on droneships. The satellite was scheduled to be launched by a Falcon-9 rocket of SpaceX in Florida between 1:37am and 4:22am Bangladesh time.
Will Cristiano Ronaldo play UCL FINAL 2018?
And then up front with Willian, Neymar, Philippe Coutinho and Gabriel Jesus. all players with outstanding qualities". "Sometimes they need a rest but I'm not anxious about injuries".
Pashinian: 'No vendetta' if he becomes Armenian premier
It remains to be seen whether the HHK, which continues to control the majority of seats in the parliament, will agree to them. He said his ministers will be chosen "as a result of discussions" with his allies and other political groups.
Sonam Kapoor's fiancé Anand Ahuja arrives in Mumbai
Scroll through for a look at Sonam Kapoor's first bridal look, and to find out which stars dropped by on her special day. While the wedding festivities are all set to begin Anand Ahuja was snapped arriving in Mumbai on May 4, 2018.