You are here: Home » News-IANS » Business-Economy
Business Standard

Court issues summons to PNB ex-CEO, others

IANS  |  New Delhi 

A has issued summons to former of Ananthasubramanian and 11 other officials in a case related to violations of of the Banking Regulation Act.

in his March 11 order asked Ananthasubramanian, current Sunil Mehta, former and former and Nehal Ahad, among others, to appear before him on May 24.

The order was made available on Tuesday.

The court was hearing a complaint filed by the Reserve Bank of India, accusing officials of furnishing false and misleading statements to it.

RBI on August 3, 2016, issued a "confidential circular" directing banks to strengthen the controls around the operating environment for fund transfers through SWIFT or similar interfaces. It asked to file a report on the compliance of the circular.

But, PNB allegedly submitted a false compliance report.

In the aftermath of the PNB scam, RBI scrutinised PNB's Brady House Branch in where it found that PNB's Core Banking System was not integrated with many critical applications and that there was no of SWIFT with Core Banking System.

--IANS

akk/prs

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, March 26 2019. 22:38 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU