PNB fraud is a clear cut case of no systemic accountability: Letter to BS

It is remarkable that despite losing Rs 2.65 trillion in a decade no head of institution has lost his job, leave alone face prosecution

Utter inefficiency

In “No systemic accountability” (February 17) T N Ninan makes an interest observation that public sector banks “don’t seem to know how to lend money and to whom”. Consider the facts: the Punjab National Bank scandal was discovered not by the bank’s audit or any other team but by the “indiscretion” of a staff member of Nirav Modi as reported in “How staff brought Nirav Modi down” (February 17). The deception game costing Rs 114 billion went on unabated for about seven years under the United Progressive Alliance  and National Democratic Alliance regimes. If the fraud