 "Allahabad Bank")
A day after the government initiated removal of Allahabad Bank Chief Executive Officer (CEO) Usha Ananthasubramanian following a CBI chargesheet in the Nirav Modi scam, the bank’s board on Tuesday divested her of all her functional responsibilities. It also requested the government to make suitable arrangements for the smooth running of the bank.
On Monday, after similar government action against two executive directors of Punjab National Bank (PNB), K V Brahmaji Rao and Sanjiv Sharan, the PNB board, too, divested them of their financial and executive powers.
“The board of directors has decided that Usha Ananthasubramanian, managing director (MD) and CEO be
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