RBI says will take ‘supervisory action’ against fraud-hit PNB

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Mumbai: The Reserve Bank of India (RBI) said on Friday it has “undertaken a supervisory assessment of control systems” at Punjab National Bank (PNB) and will take “appropriate supervisory action” after the lender disclosed this week it had been hit by a Rs11,400 crore fraud.

RBI also denied a report from The Economic Times newspaper that PNB had been asked to assume all liabilities arising from the fraud, according to a statement.

“RBI denies having given any such instructions,” the statement said.livemint