RBI says it has ‘undertaken a supervisory assessment of control systems’ at PNB and will take ‘appropriate supervisory action’. Photo: Aniruddha Chowdhury/Mint
Mumbai: The Reserve Bank of India (RBI) said on Friday it has “undertaken a supervisory assessment of control systems” at Punjab National Bank (PNB) and will take “appropriate supervisory action” after the lender disclosed this week it had been hit by a Rs11,400 crore fraud.
RBI also denied a report from The Economic Times newspaper that PNB had been asked to assume all liabilities arising from the fraud, according to a statement.
“RBI denies having given any such instructions,” the statement said. Reuters
-k2QE--621x414@LiveMint.jpg "The Supreme Court, while delivering the Cauvery verdict, put supply of drinking water on a ‘higher pedestal’, allocated an additional 4.75 tmcft to Bengaluru to meet the drinking water and domestic requirements of the ‘global city’. Photo: Mint")