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Wednesday, October 14, 2015

Bank of Baroda chairman meets Jaitley

The Finance Ministry on Wednesday took stock of the alleged Rs. 6100 crore remittance scam in public sector Bank of Baroda.

Newly appointed chairman of BoB Ravi Venkateshan also met Finance Minister Arun Jaitley.

"It was a courtesy meeting with the Finance Minister. Investigations are onit would be inappropriate to say anything” he said after the meeting.

However sources said the case is likely to be probed by the Serious Fraud Investigations Officethe amount of fund alleged to be involved could be lesser than estimated.

Checks would be made over the entire banking system to prevent such cases in the future.

"Our new Managing Director PS Jayakumar and I will together try to restore the Bank's image which has taken a hit due to the case" Venkateshan said.

Jayakumar took over as BoB Managing Director and CEO of BoB on Tuesday.

Source : Thehindubusinessline


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