Govt dismisses Usha Ananthasubramanian, ex-MD of scam-hit PNB, from service

Ananthasubramanian was, three months back, divested of all her powers as MD of Allahabad Bank, after being named in a CBI charge-sheet in the Rs 140 billion PNB fraud case

The government today dismissed Usha Ananathasubramanian, who was three months ago divested of her powers as MD and CEO Allahabad Bank following the country's biggest bank fraud allegedly carried out by Nirav Modi and associates at PNB.

MD and CEO of Punjab National Bank before moving to Allahabad Bank, Ananathasubramanian was named in the CBI charge-sheet in connection with the Rs 14,000 crore fraud through fake LoUs in connivance with some PNB employees.

She has been dismissed with immediate effect in the interest of Allahabad Bank, sources citing government notification said.

It was alleged that she failed to exercise proper control over the