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Central Vigilance Commissioner KV Chowdhary will on Monday meet scam-hit PNB’s Chief Executive Sunil Mehta and the bank’s Chief Vigilance Officer to seek explanation on the ₹11,400 crore fraud involving diamantaire Nirav Modi and others.
The meeting in the Capital will also be attended by senior Finance Ministry officials and representatives of the Reserve Bank of India, sources said.
Indications are that PNB’s Chief Vigilance Officer will be making a presentation at the meeting.
The CVC — which has the powers of civil court — will been keen to understand if there are any systemic issues that need to be addressed. There are indications of lapses at PNB’s end on adherence to job rotation norms prescribed by CVC for banks.
Ever since the ₹11,400-crore scam came to light this past week, CVC has become the fourth government agency involved in the investigations besides Enforcement Directorate, Central Bureau of Investigation and Income-Tax Department.
The CVC meeting comes on the heels of the Indian Banks Association (IBA) discussing the scam at its meeting in Mumbai on Saturday. The IBA meeting was attended by Sunil Mehta, MD and CEO, PNB (through video-conference) and other top honchos of the banking industry.
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