It also named PNB executive directors K V Brahmaji Rao and Sanjiv Sharan, among others, in a charge sheet filed in a Mumbai court, the sources said, adding the officials were accused of breaching central bank guidelines.
As per the ownership in the bank is concerned, the Government holds a little over 62% stake in PNB and close to 65% in Allahabad Bank. The Allahabad Bank board has been asked to divest Ananthasubramanian of all powers and initiate further action. Kumar said there is a set process for removal and dismissal of directors from the board of banks and that has been initiated.
Rajiv Kumar, Secretary, Dept Financial Services (DFS) told media-persons, "PNB board meeting is underway, they will announce the action taken after the meeting". "The next chargesheet will concentrate on Mehul Choksi and his companies". All government directors and nominees have been asked to attend bank board meetings and all ED and MD-level vacancies have been forwarded to the Banks Board Bureau. Usha Ananthasubramaniam, who was the MD and the CEO of the PNB bank is also expected to be included in the charge sheet. Interestingly, the PNB scam extended from 2011 till 2018. The brothers as well as their uncle Mehul Choksi had fled India after the scam was discovered. Last week, Allahabad Bank reported a stand-alone net loss of almost Rs 3,510 crore for the last quarter ended March of 2017-18 due to more than three-time rise in its provisions for bad loans.
The Delhi-based lender's earnings will be under pressure as it will have to make provisions for the scam-related payouts to other banks.
An analyst with a private brokerage firm who did not wish to be identified said the loss reported may vary depending on the decision of the bank management on whether to spread the impact of the bond losses and gratuity expenses across quarters or provide for the same in entirety in the March quarter. "Bankers have become jittery", said Amit Bannerjee, an independent merchant banker working for East Asian Funds. After several months of negative credit growth previous year, bank credit had picked up from November.
On Monday, Reserve Bank imposed restrictions on Allahabad Bank's lending to risky assets and raising high-cost deposits in view of deteriorating financial health.
The agency also made it clear that the naming of Ananthasubramanian in the charge sheet does not mean that her predecessors have been given clean chit as the investigation is going on, they said.
Nirav Modi, of course, will be named in the chargesheet.
The Turkish president Recep Tayyip Erdogan said while on a visit to London: "Israel is wreaking state terror". Israel also said its aircraft targeted a Hamas post in Jabaliya after troops in the area came under fire.
Nico Hulkenberg and Pierre Gasly were caught up in the chaos and could do nothing to avoid the Frenchman's careening auto . Mexican Sergio Perez was ninth for Force India and Monegasque rookie Charles Leclerc took the final point for Sauber.
In other Renishaw news, insider Kath Durrant acquired 198 shares of the stock in a transaction dated Thursday, January 25th. Since January 22, 2018, it had 0 buys, and 1 sale for $194,761 activity. 49 funds opened positions while 94 raised stakes.
Kidder had a debilitating auto accident in 1990 that left her in a wheelchair for most of two years and made it hard to work. Kidder went to take dozens of other acting jobs, from recurring roles on TV's Boston Common in 1997to 2009's Halloween II .
But the Scot's style of football isn't approved by many and Ashton thinks no news from the club is a bad sign for Moyes. But the former Manchester United manager has experienced difficulty getting to grips with the club.
Most well known mother of three Kim Kardashian reveals the reason behind her ideal family pictures through an Instagram posts. Cape Town - With three kids under the age of 5, it's no wonder Kim struggles to get a good snap of them all sitting still.
House Speaker Paul Ryan (R-Wis.) tweeted, " Harry Reid has never been one to shy from a fight, and this is surely no different". Reid was first elected to the Senate in 1986 and retired in 2017, because the Senate's minority chief.
But it is only recently, more than 20 years after, when the researchers realized it, by restudying the data recorded by Galileo . Europa's frozen surface has always been thought to cover a salty ocean about twice the size of our planet's, according to AFP.
Although the occurrences of windshields cracking happen quite often, the instance of an entire windshield coming off is rare. Officials from Airbus said it would "would provide all necessary support upon request by the CAAC and Sichuan Airlines".
Moon said Monday that the North's decision shows how honest the country is about making the talks between Kim and Trump a success. The website also said a small square-shaped foundation and a small shed had been newly placed on the north portal spoil pile.
The new members of the cast are fantastic, especially Josh Brolin as Cable (his second coolest role of this "Summer of Brolin"). If not for Domino (who was actually Copycat), Deadpool would would have killed Cable and maybe the rest of X-Force.
But the court decided on Monday that the law is unconstitutional because it oversteps the rights of states to regulate themselves. In January, a National Basketball Association executive told NY lawmakers the leagues should get 1pc of all bets.
Still, Stephenson emphasized that the company's dealings with Essential Consultants were all above board and perfectly legal. More recently, Daniels' lawyer Michael Avenatti alleged that Cohen was "selling access" to president Trump .
"Historical Christianity has taught for 2,000 years that salvation is through faith alone in Jesus Christ", Jeffress declared . The inaugural event itself spurred an outbreak of protests among Palestinians in Gaza, about 40 miles away from Jerusalem.
Rather, it will no longer be the label Google puts on the gigabytes or terabytes of storage you share across its platforms. Finally, Google says One will bring support for families. "The way you use Drive to store and share files doesn't change".
The group was responsible for the country's worst-ever attack, the 2002 Bali bombings that killed 202 people. Indonesia has been on high alert for attacks by homegrown militants, including some claimed by ISIS.
We of course need to take this information with a grain of salt, as we need to hear the official announcement from Nintendo. The whole concept sounds strangely similar to The Curse of Pigma, one of several endings to Star Fox Command.
The mother, Ina Rogers, 30, told reporters that she called authorities in March after her 12-year-old son didn't come home. His bail was increased from $1.5 million to more than $5 million, Sharon Henry, the chief deputy district attorney said.
And as many fans wondered why she was all by her lonesome, perhaps it was all an active effort by Khloe Kardashian herself. An insider for the publication said: 'Khloe is determined to show that she is happy in Cleveland.
I think you take stock of it; at the moment you are disappointed and Fulham are ecstatic because they are through to Wembley. We played fantastic football, we were focussed and organised, and I must be satisfied for the supporters.
The analysts said their target price for Brent, the global benchmark, was $90 for the second quarter of next year. However, US crude settled down USD 1.67 at USD 69.06 per barrel and Brent settled down USD 1.32 at USD 74.85.
The MI5 chief gave a number of reasons why intelligence sharing is a vital element of efforts to tackle growing terror threats. It has been the subject of condemnation and diplomatic sanctions from the West over its alleged involvement.
Its key commitments include the compilation of statistics to record the gender of the filmmakers and key crew of all submissions. The pledge was drawn up by the French gender equality group 50/50 en 2020, along with members of the Time's Up movement.
The gap between global and US oil prices widened as new figures showed that producers in the USA are ramping up quickly. The bloc's forecasts pushed oil prices to new three-and-a-half-year heights, building on last week's rally.
And as expected, Mahira Khan , winning hearts, put forward her A game when it came to walking the red carpet at Cannes . More than her outfit or makeup, it was Verna actress' pleasing personality that floored everyone at the red carpet.