Reported by: banking|Updated: August 14, 2018
The government announced that Usha Ananthasubramanian, MD and CEO of Allahabad Bank, has been removed from service. The announcement came on the last day of her office in the bank. She has been former MD and CEO of the scam-tainted Punjab National Bank. About 3 months ago, she was divested of all her powers as MD of Allahabad Bank, after being named in a CBI charge-sheet in the Rs 14,000 crore PNB fraud case. She, however, continued to be an employee of the bank. She had headed Punjab National Bank between August 2015 and May 2017, before being moved to Allahabad Bank. She was also and ED at PNB from July 2011 to November 2013.