Current Affairs - Persons - Discussion

A K Pradhan has been appointed as the Group Chief Risk Officer of Punjab National Bank (PNB). Mr. Pradhan was earlier holding the post of a General Manager. Although the functions and responsibilities of the Group Chief Risk Officer have not been disclosed by PNB, the decision for this appointment seems to be in wake of Rs 12700 crore fraud unearthed at one its branches. In response to the PNB fraud, Union Finance Ministry has asked all the state-owned banks to scrutinise all their non-performing accounts (NPAs) of over Rs 50 crore for possible fraud and report it Central Bureau of Investigation (CBI).