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PNB executive director Rao meets DFS Secretary

Press Trust of India  |  New Delhi 

executive Brahmaiji Rao, who has been divested of powers, today called on Financial Services to explain his position with regards to the CBI chargesheet naming him in the fraud case.

Sources said PNB's Rao today met Kumar and explained his position.

The CBI on Monday filled a chargesheet in the Punjab National Bank's USD 2 billion fraud case in a naming Rao, another and the bank's former MD in the scam.

Following the development, the asked the board to strip two executive directors of all functional powers. The board met the same day and divested the two executive directors of all financial and executive powers.

The ministry had also asked to take similar action against its and MD The bank's board yesterday divested her of all powers.

Meanwhile, sources said Ananthasubramanian did not attend office today.

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

First Published: Wed, May 16 2018. 21:40 IST