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Mamata wants PNB fraud probed, FRDI Bill scrapped

IANS  |  Kolkata 

on Thursday demanded a thorough investigation into the fraudulent transactions worth $1.8 billion in and said she would not let the off the hook until the people's money is secured.

Banerjee said she has written to the Ministry to scrap the proposed Financial Resolution and Deposit Insurance (FRDI)

"Today people are shocked to see what has happened in the in There has been a scam of Rs 11,000 crore. This is the money of common people. Who took away the money? Who ate it up?" she asked during a public meeting in district.

"Offenders will run away after stealing the money but what will happen to the common man? Scams like this must be investigated. The security of people's money must be ensured. We will not let them (the Central government) off the hook until that happens," she said.

PNB, the second largest in India, detected some fraudulent and unauthorised transactions (messages) at $1,771.69 million (around Rs 11,515 crore) in one of its branches in for the benefit of a few select account holders.

The fraud was detected on Wednesday in the PNB's Brady House Branch in south Mumbai, which is its second-biggest lending branch in the country. A CBI probe has been initiated into the matter and 10 employees of the bank have been placed under suspension.

Accusing the Centre of trying to take away the people's money deposited in the banks with its FRDI Bill, Banerjee said she has written two "strong letters" to the Ministry demanding the withdrawal of the

"We asked the government to withdraw the as they are trying take away the money of the common people. This must not happen. The minister acknowledged my letter but then sent a reply through a saying the bill would not impact anything," the supremo said.

"Today I have written one more strong letter before coming here demanding the withdrawal of FRDI bill. up the money of common man will not be allowed."



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

First Published: Thu, February 15 2018. 16:54 IST