Probe All NPA Of Above Rs 50cr: Refer To CBI

New Delhi, Feb 27: Finance Ministry today directed public sector banks to probe all NPA accounts of over Rs 50 crore for possible fraud and accordingly report the cases to CBI.The direction comes amid state-owned lender PNB reporting Rs 12,700 crore fraud through alleged fraudulent misuse of letters of undertaking by billionaire jeweller Nirav Modi and associates.

PSBs have also been asked to involve Enforcement Directorate (ED)/ Directorate of Revenue Intelligence (DRI) for violations of PMLA, FEMA or Export Import norms.                                                                                                                                                                                           State owned banks, with combined gross non-performing assets of about Rs 8.5 lakh crore, have been asked by the ministry to go in for prompt fraud identification and take action within prescribed deadlines.

 

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