How did the $1.77bn PNB scam go undetected, govt asks RBI
The government has written to the RBI asking how the $1.77 billion PNB scam went undetected through its systems. It has also asked the central bank to report if it suspects anyone of links to the PNB fraud within its system. Either the framework to prevent fraud is inadequate or RBI is unable to effectively implement it, the government added.