Fraud hit PNB ranked best PSB for digital transactions
New Delhi, Aug 25 : Punjab National Bank (PNB), which was recently hit by a multi billion dollar fraud by manipulation of its financial messaging -- Swift -- system, has been ranked as the best PSU bank in the overall digital transactions category in India.
The bank said in a statement on Saturday: "Based on the recent findings of DFS (Department of Financial Services), PNB is ranked the number 1 PSU bank in digital transactions in India."
A Rs 13,500-crore fraud came to light in January, when it was found that the financial messaging system SWIFT was manipulated. It was used to issue Letters of Undertakings (LoUs) to conduct the fraud.
In the aftermath of the fraud, the bank had to rectify and strengthen its internal controls.
According to the PNB statement, the report card on the banking sector's performance in digital transactions as on July 31, 2018 was prepared by the Ministry of Finance.
As per the DFS' findings, PNB's average percentage of technical declines is only 0.83 per cent of the total transactions. It has been rated as the sixth best in the overall category amongst all banks in India for digital performance.
"The bank is fully committed to 'Digital India' initiative," the statement said.
"The bank is rated as 'Good' by the government with a score of '71' which is the highest category of performance."
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Two held for 'firing' at BJP leader's house in Bengal
Kolkata (PTI): A day before the counting of votes for the West Bengal assembly elections, two persons were arrested on Sunday for allegedly being involved in a firing incident outside the residence of a BJP leader in North 24 Parganas district, police said.
BJP leader Kundan Singh lodged a police complaint, alleging that a few gunmen fired at his house in the Noapara constituency around Saturday midnight.
Based on the CCTV footage, the two accused were apprehended, a senior officer said.
BJP's Noapara candidate Arjun Singh, in a post on social media, claimed that around 12.05 am, two armed miscreants arrived on a motorcycle at the residence of Kundan Singh, a BJP functionary and secretary of the Barrackpore organisational district, with an "intent to kill him".
According to the BJP leader, the accused are residents of Garulia and are known criminals.
Their names as offenders had been submitted to the Election Commission, he said.
The police officer did not specify whether the two arrested persons were the same individuals named by Arjun Singh.
According to the complaint, one round of firing took place outside Kundan Singh's house, triggering panic in the area.
The BJP candidate also questioned the role of the police, claiming that one of the accused had been detained by the police on the polling day but was later released in the evening.
The Noapara assembly seat went to the polls on April 29.
Several BJP leaders alleged that attempts were being made to create an atmosphere of fear ahead of the counting and weaken the organisation of the opposition parties.
The counting of votes will take place on May 4. Polling for the West Bengal assembly elections was held on April 23 and April 29.
The BJP urged the Election Commission to intervene immediately to ensure peaceful counting.
TMC candidate Somnath Shyam rubbished Arjun Singh’s allegation, claiming that the BJP nominee had orchestrated the firing incident to divert attention from imminent defeat.
“Arjun Singh knows all the gangsters in the Barrackpore belt. Everyone knows about his links with the underworld. Let the police investigate the incident,” Shyam said.
