SME Times is powered by   
Search News
Just in:   • Modi, Hasina discuss bilateral issues, security at Santiniketan meet  • Toyota, Suzuki to discuss joint vehicle production  • Food processing ministry to join hands with international labs: Harsimrat  • Sun Pharma's Q4 consolidated net profit up 7%  • Xi calls for international cooperation in data 
Last updated: 16 May, 2018  

Allahabad.Bank.2.9.Thmb.jpg Allahabad Bank board divests CEO of all powers

Allahabad.Bank.jpg
   Top Stories
» Food processing ministry to join hands with international labs: Harsimrat
» Home buyers to be treated as financial creditors: Minister
» Give up single use of plastic, go green: Vardhan
» Continual learning to build social capital vital for business success: HR Professionals
» SIDBI, CSC sign MoU to help village entrepreneurs
SME Times News Bureau | 16 May, 2018
State-run Allahabad Bank on Tuesday said its Board of Directors has decided to divest the lender's MD and CEO Usha Ananthasubramanian of all functional responsibilities of the bank with immediate effect.

The move comes a day after the Central Bureau of Investigation (CBI) filed a chargesheet detailing her alleged role in the over Rs 13,000-crore Punjab National Bank (PNB) scam.

"We have to inform you that the Board of Directors of the Bank in its meeting held on date has decided that Usha Ananthasubramanian, MD & CEO, be divested of all functional responsibilities of the bank with immediate effect," the lender said in a regulatory filing.

The bank said the Union Ministry of Finance's Department of Financial Services had asked them to make suitable arrangements for smooth functioning of the lender.

Ananthasubramanian was quizzed by the CBI in February in connection with the case.

On Monday, the central agency filed the chargesheet in the case mentioning her role.
 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 27 May, 2018
  Daily Poll
Is counterfeiting a major threat to SMEs?
 Yes
 No
 Can't say
  Commented Stories
» Starting an import export business: Basic guide for beginners(19)
» Oil, Rupee concerns(6)
» Year End Review 2016: Report card of MSME Ministry(2)
» Modi chairs twenty-sixth interaction through PRAGATI (1)
» Kalam releases handbook for small entrepreneurs(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter