Yak Govt Initiates Activeness To Take Away Allahabad Banking Concern Ceo Usha Ananthasubramanian

The Indian authorities today announced that it has initiated activity for removal of Allahabad Bank CEO Usha Ananthasubramanian and 2 executive directors of Punjab National Bank following the CBI's get-go chargesheet inwards the USD 2 billion fraud at PNB detailing their role. The movement is a purpose of the government’s broader efforts to construct clean upward the banking system.

Along alongside Anathasubramanian, who was managing managing director together with CEO of PNB from August 2015 to May 2017, 2 serving executive directors of PNB (Sanjiv Sharan together with K.V. Brahmaji Rao) were equally good named inwards the chargesheet filed past times CBI today. They were charged nether section 409 of the Indian Penal Code (IPC) for criminal breach of trust together with section 420 of IPC for cheating together with Section 13(2) of the Prevention of Corruption Act for causing wrongful losses to the depository fiscal establishment together with criminal breach of trust to the public.

Important Note :

Meanwhile the Reserve Bank of Republic of Republic of India (RBI) has imposed restrictions on Allahabad Bank's lending to risky assets together with raising high-cost deposits inwards thought of deteriorating fiscal health.

The directive has come upward inside days of the RBI imposing like restrictions on only about other state-run lender Dena Bank, which is nether the Prompt Corrective Action (PCA) of the key bank.

sponsored links

Share this post