Executive Directors and chief technology officers (CTOs) of PSBs have been asked to prepare a blueprint to enhance preparedness for combating increasing risks, Financial Services Secretary Rajiv Kumar said in a tweet.
A multi-agency probe has been launched in the alleged scam at PNB that has now touched about Rs 12,700 crore. Late last evening, Punjab National Bank said that the amount involved in the fraudulent transactions could increase by USD 204.25 million from the earlier estimate of USD 1.77 billion.
"15 days deadline for PSBs to take pre-emptive action and identify gaps/weakness to gear up for rising Ops and Tech risks; To learn from best practices and pinpoint strategies including tech solutions; clear accountability of senior functionaries," the Secretary said.
Each PSB will have to form a group comprising their EDs and CTOs and it will be the responsibility of the panel to "learn" from best practices across the banking sector and identify weakness in existing arrangements.
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The EDs and CTOs, he added, will have to prepare reports based on best practices and minimum acceptable standards and suggest action points including technological solutions.
Boards of banks have been asked to assign clear accountability to senior functionaries for implementation and compliance of the report.
The 15-day deadline to PSBs comes as part of government's ambitious reform agenda, under the rubric of an Enhanced Access and Service Excellence (EASE) programme.
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