<p class="title">The Union government on Monday began the process to remove state-owned Allahabad Bank’s chief Usha Ananthsubramanian for her alleged role in the Rs 13,700-crore Punjab National Bank loan fraud involving jeweller designer Nirav Modi. Meanwhile, PNB sacked two of its executive directors hours after CBI filed a charge sheet in the scandal.</p>.<p class="bodytext">In its 7,500-page charge sheet, CBI named 22 individuals, including Modi and three companies as accused in the biggest banking fraud in India’s history.</p>.<p class="bodytext">Ananthsubramanian’s name also figures in the charge sheet. The charges against the accused are of cheating and dishonesty and, criminal breach of trust by public servants.</p>.<p class="bodytext">Modi’s wife Ami Modi and his uncle Mehul Choksi’s name are not in the CBI’s first ever charge sheet in the scam that shook the country in February this year.</p>.<p class="bodytext">Ananthasubramanian allegedly failed to comply with the Reserve Bank of India’s circulars issued by the Society for Worldwide Inter-bank Financial Telecommunications (SWIFT) control system in 2016.</p>.<p class="bodytext">“A government nominee on the broad of Allahabad Bank will call a meeting to seek removal of Ananthsubramanian,” Financial Services Secretary Rajeev Kumar told reporters here.</p>.<p class="bodytext">The investigating agency also filed charges against two serving executive directors of PNB -- K V Brahmaji Rao and Sanjiv Sharan.</p>
<p class="title">The Union government on Monday began the process to remove state-owned Allahabad Bank’s chief Usha Ananthsubramanian for her alleged role in the Rs 13,700-crore Punjab National Bank loan fraud involving jeweller designer Nirav Modi. Meanwhile, PNB sacked two of its executive directors hours after CBI filed a charge sheet in the scandal.</p>.<p class="bodytext">In its 7,500-page charge sheet, CBI named 22 individuals, including Modi and three companies as accused in the biggest banking fraud in India’s history.</p>.<p class="bodytext">Ananthsubramanian’s name also figures in the charge sheet. The charges against the accused are of cheating and dishonesty and, criminal breach of trust by public servants.</p>.<p class="bodytext">Modi’s wife Ami Modi and his uncle Mehul Choksi’s name are not in the CBI’s first ever charge sheet in the scam that shook the country in February this year.</p>.<p class="bodytext">Ananthasubramanian allegedly failed to comply with the Reserve Bank of India’s circulars issued by the Society for Worldwide Inter-bank Financial Telecommunications (SWIFT) control system in 2016.</p>.<p class="bodytext">“A government nominee on the broad of Allahabad Bank will call a meeting to seek removal of Ananthsubramanian,” Financial Services Secretary Rajeev Kumar told reporters here.</p>.<p class="bodytext">The investigating agency also filed charges against two serving executive directors of PNB -- K V Brahmaji Rao and Sanjiv Sharan.</p>