Regulator, auditor should be held responsible for fraud in PMC Bank: Anurag Thakur

Union Minister of State for
Finance Anurag Thakur today
said the regulator, auditor and
management should be held
responsible for fraud in
Punjab and Maharashtra Co
operative Bank or any other
bank.

Speaking at an event in New
Delhi, Mr Thakur said that in
case of PMC Bank, the
Reserve Bank of India has
allowed withdrawal of 40,000
rupees, which covers around
77 per cent of the affected
people and they have been
assured of up to one lakh
rupees.

Mr Thakur said, the BJP-led
Government has brought in
reforms to make balance
sheet of banks healthy, which
have doled out huge amount
of loan during UPA-2 regime.
The Minister said, bank like
PNB, which three years back
was facing question, is in
profit today.

He said the government has
been able to bring back 1.78
lakh.crore rupees.just
because of the Insolvency
and Bankruptcy Code. The
Minister noted that the
government is taking the
decision to make the
fundamentals of the
economy strong.