India gives state-run lenders 15 days to improve oversight after fraud at Punjab National Bank

February 27, 2018 6:06 PM

MUMBAI (REUTERS) – India’s Finance Ministry set a 15-day deadline on Tuesday (Feb 27) for state banks to take action to improve their oversight of operational and technological risks after the country’s second-biggest state lender was hit by a US$2 billion (S$2,6 billion) fraud.

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