Thursday, September 20 2018

February 24, 2018

Jaitley criticised regulators for failing to detect PNB fraud

New Delhi-Finance Minister Arun Jaitley at the ET Global Business Summit in New Delhi criticised regulators for failing to detect the 11,400-crore rupees fraud at Punjab National Bank for seven long years. Mr Jaitley said, employees conniving with fraudsters is worrisome. He said, regulators should have a third eye open to detect and check such frauds.He also slammed bank management for failing to do their job saying inadequate supervision and top management being unaware of what was going on in the bank was worrisome.