Govt orders audit on OBC, Dena Bank for Rs 436 cr scam
21 Aug 2014 6:08 AM IST
The government has initiated a forensic audit at the state-run Oriental Bank of Commerce and Dena Bank after unearthing of a suspected scam, wherein the lenders allegedly misappropriated funds worth Rs 436 crore from their fixed deposit customers.
‘A forensic audit has already been ordered,' Financial Services secretary GS Sandhu told reporters here on Wednesday, when asked about the alleged
scam, adding some suspensions have been initiated by the authorities in this regard. He, however, was quick to add that it is a case of aberration at the individual officer level and not systemic.
‘These are instances which have happened at the lower level, at the branch level because of lack of due diligence or non-adherence to the norms and procedures,’ Sandhu said.
‘A forensic audit has already been ordered,' Financial Services secretary GS Sandhu told reporters here on Wednesday, when asked about the alleged
scam, adding some suspensions have been initiated by the authorities in this regard. He, however, was quick to add that it is a case of aberration at the individual officer level and not systemic.
‘These are instances which have happened at the lower level, at the branch level because of lack of due diligence or non-adherence to the norms and procedures,’ Sandhu said.
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