PNB scam fallout: Former Allahabad Bank CMD Usha Ananthasubramanian could be sacked today, says report
Former Allahabad Bank boss Usha Ananthasubramanian has been named in the Central Bureau of Investigation chargesheet in the Punjab National Bank (PNB) fraud case.
Former Allahabad Bank MD and Chief Executive Usha Ananthasubramanian could be asked to go, according to a report.
Ananthasubramanian could be removed from service effective 13 August, CNBC-TV18 reported.
Former Allahabad Bank CMD, Usha Ananthasubramanian likely to be removed from service effective today: Sources to @Sapna_CNBC pic.twitter.com/tvdkAANfzx
— CNBC-TV18 (@CNBCTV18Live) August 13, 2018
The move, if executed this week, comes some three months after the board of state-owned Allahabad Bank divested Ananthasubramanian of all powers, following a directive from the finance ministry, issued after she was named in the Central Bureau of Investigation's (CBI) chargesheet in the Punjab National Bank (PNB) fraud case.
In May 2018, the finance ministry asked the boards of Allahabad Bank and PNB to take action against Ananthasubramanian and two executive directors of PNB respectively.
Ananthasubramanian was the CMD of the Punjab National Bank till May 2017.
With inputs from PTI
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