Cautioning all State-owned lenders in the country, the Government on Tuesday directed all chiefs of public sector banks (PSBs) to probe all non-performing assets or NPA accounts of over Rs 50 crore for possible fraud, and accordingly report the cases to Central Bureau of Investigation (CBI).
The move comes amid ongoing investigation by the CBI for the mega bank fraud by PNB which reportedly committed Rs 12,700 crore fraud.
“PSB MDs directed to detect bank frauds & consequential willful default in time & refer cases to CBI,” the Financial Services Secretary Rajiv Kumar tweeted.