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Punjab National Bank (PNB) on Monday divested responsibilities of two of its current Executive Directors—Brahmaji Rao and Sanjiv Sharan—named in the CBI chargesheet filed on the Nirav Modi perpetrated fraud.
This move came on the heels of the Finance Ministry writing a letter to the PNB suggesting “appropriate decision”, a PNB spokesperson said.
The Finance Ministry has also sent a formal communique to Allahabad Bank Board for an appropriate decision on its current MD & CEO Usha Ananthasubramanian, who was former CEO of Punjab National Bank and named in the CBI chargesheet filed in the Nirav Modi case on Monday.
Ananthasubramanian headed PNB between August 2015 and May 2017.She had also served as an Executive Director at PNB between July 2011 and November 2013.
The Allahabad Bank Board is expected to meet on Tuesday to take a decision on divesting of her responsibilities as MD & CEO of the bank.
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