The finance ministry on Tuesday set a 15-day deadline for state banks to take pre-emptive action against operational and technical risks, following a $2 billion fraud at the country&#39;s second-biggest state lender.

Rajeev Kumar, the secretary in the department of financial services, said in a tweet that state-run banks have 15 days to &quot;take pre-emptive action and identify gaps/weaknesses&quot; to tackle rising operational and technical risks.

Besides fixing &quot;clear accountability&quot; of senior officials, the banks must also learn from best practices and pinpoint strategies including technical solutions, Kumar added.

State-run Punjab National Bank (PNB) this month disclosed a $2 billion fraud, stunning the country and putting the lack of supervisory oversight by the central bank and auditors under the spotlight.

&nbsp;

Besides fixing 'clear accountability' of senior officials, the banks must also learn from best practices and pinpoint strategies including technical solutions, Financial Services Secretary Rajeev Kumar said

The finance ministry on Tuesday set a 15-day deadline for state banks to take pre-emptive action against operational and technical risks, following a $2 billion fraud at the country's second-biggest state lender. Rajeev Kumar, the secretary in the department of financial services, said in a tweet that state-run banks have 15 days to "take pre-emptive action and identify gaps/weaknesses" to tackle rising operational and technical risks. Besides fixing "clear accountability" of senior officials, the banks must also learn from best practices and pinpoint strategies including technical solutions, Kumar added. State-run Punjab National Bank (PNB) this month disclosed a $2 billion fraud, stunning the country and putting the lack of supervisory oversight by the central bank and auditors under the spotlight.

PNB scam: Fix operational gaps in 15 days, Finance Ministry tells state-run banks

2-billion-fraud

$2 Billion Fraud, News on $2 Billion Fraud, stories on $2 Billion Fraud, articles on $2 Billion Fraud, $2 Billion Fraud stories at Wion, $2 Billion Fraud news, $2 Billion Fraud latest news

2 billion-fraud

PNB scam: Fix operational gaps in 15 days, Finance Ministry tells state-run banks