Rajeev Kumar, secretary in the department of financial services, said in a tweet that the banks run by the state have 15 days “to take pre-emptive action and identify gaps/weaknesses” for rising operational and technical risks.
State-run Punjab National Bank disclosed this month a $2bn fraud, raising concerns about the lack of supervisory oversight by the central bank and auditors.
Kumar added that banks should learn from best practices and find strategies, including technical solutions, to address the gaps.
15 day deadline for PSBs to take pre-emptive action & identify gaps/Weaknesses to gear up for rising Ops & Tech risks; To learn from best practices & pinpoint strategies including tech solutions; Clear accountability of senior functionaries.#EASE @PMOIndia @FinMinIndia @PIB_India pic.twitter.com/tankAMtBem
— Rajeev kumar (@rajeevkumr) 27 February 2018
Earlier this month, the state-run PNB said it had detected unauthorised transactions of about $1.77bn, but said on Monday that the amount could go up by about $204m, the Times of India reported.
