Mamata demands thorough inquiry into PNB fraud

Updated - November 28, 2021 07:58 am IST

Published - February 15, 2018 05:24 pm IST - Kolkata

 West Bengal Chief Minister Mamata Banerjee.

West Bengal Chief Minister Mamata Banerjee.

West Bengal Chief Minister on Thursday demanded a thorough, time-bound inquiry into the Punjab National Bank (PNB) fraud.

“Look what happened at Punjab National Bank? A scam of more than ₹11,000 crore. People's savings are not safe. There must be a thorough, time-bound enquiry,” Ms. Banerjee said on social media. A fraudulent bank guarantee has resulted in PNB and several other Indian banks with overseas branches losing more than ₹11,000 crore. PNB informed stock exchange about the embezzlement on Wednesday.

In December 2017, Ms. Banerjee had written to Union Finance Minister Arun Jaitley raising strong objections to the proposed Financial Resolution and Deposit Insurance (FRDI) Bill, 2017. She had said that provisions of the Bill “completely shatter the age-old faith and trust reposed by the people in the banking system of the country”.

The Trinamool Congress had also organised a rally against the proposed bill seeking its withdrawal.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in


Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.