West Bengal Chief Minister on Thursday demanded a thorough, time-bound inquiry into the Punjab National Bank (PNB) fraud.

“Look what happened at Punjab National Bank? A scam of more than ₹11,000 crore. People's savings are not safe. There must be a thorough, time-bound enquiry,” Ms. Banerjee said on social media. A fraudulent bank guarantee has resulted in PNB and several other Indian banks with overseas branches losing more than ₹11,000 crore. PNB informed stock exchange about the embezzlement on Wednesday.

In December 2017, Ms. Banerjee had written to Union Finance Minister Arun Jaitley raising strong objections to the proposed Financial Resolution and Deposit Insurance (FRDI) Bill, 2017. She had said that provisions of the Bill “completely shatter the age-old faith and trust reposed by the people in the banking system of the country”.

The Trinamool Congress had also organised a rally against the proposed bill seeking its withdrawal.