It further asked the government to make suitable arrangements for smooth functioning of the bank.
The government has given sanction for prosecution against PNB executive director Sanjiv Sharan as part of the clean up exercise in the system.
The government had moved NCLT to freeze the assets of 19 people after CBI filed a charge sheet in Nirav Modi's case and Gitanjali Group cases.
Usha Ananthasubramanian said the bank will leave no stone unturned to recover unpaid loans.
With the inauguration of the bank in Mumbai, seven branches would become operational across the country including in Kolkata, Chennai, Ahmedabad and Guwahati.
The 12,000-page charge sheet further claimed that a similar fraud was detected in 2016 following which the RBI took up the issue and issued circulars to all banks.
Bharatiya Mahila Bank to have 60 branches by Mar 31: CMD
The chargesheet, filed in a special court in Mumbai, also names several other top officials of the bank.
Kingfisher Airlines has defaulted on loans of over Rs 9,400 crore obtained from various banks.
Prime Minister Manmohan Singh and UPA Chairperson Sonia Gandhi will inaugurate country's first all-women Bharatiya Mahila Bank in Mumbai on November 19, the birth anniversary of former Prime Minister Indira Gandhi.
All-women bank to take wings across states.
The meeting is expected to chart a road map for cleaning up their balance sheets and boost credit flows, reports Somesh Jha.
Ananthasubramanian, 55, started her career in 1982 at Bank of Baroda as a specialist officer in the planning stream.
Reserve Bank of India Governor Raghuram Rajan had said recently that there was "no need" to set up a separate bad bank to deal with stressed assets of public sector lenders.
According to ED sources Sunil Mehta said the fraud took place due to "systemic failure" and "procedural lapses", owing to lack of interface or proper links between the core banking software and the SWIFT interbank messaging system.
She was the managing director and the CEO of PNB since August 14, 2015 before being appointed in Allahabad Bank on May 6, 2017.
FinMin finally sacked executive directors K V Brahmaji Rao and Sanjiv Sharan on January 18. The bank's board, however, had felt they had no criminal intent and it was a case of 'casual oversight'
Women dominate Indian banks's clerical and officer rolls, but few make it to the executive office these days, notes Tamal Bandyopadhyay.
The venue for Saturday's meeting was shifted at the last minute from the headquarters of the India Banks' Association in Cuffe Parade to avoid media glare.
Govt reconstitutes body, says will not interfere in senior PSB appointments
Under the scheme, which seeks to open 75 million accounts by January 26, 2015, an accident insurance cover of Rs 100,000 is provided with every RuPay debit card offered by the National Payments Corporation of India.
'The PCA framework was revised and tightened in April 2017, but there was no discussion in any board meeting. The government does not know the rationale behind revising the framework and how the RBI arrived at it. Similarly, there was no discussion in the board meeting on the revised NPA framework,' said an official.
Punjab National Bank has made a name for itself in recovery of bad loan dues. Usha Ananthasubramanian, managing director and chief executive officer of the government-owned lender, explains how it has achieved this reputation.
Raghuram Rajan's 'surgery' uncovers more bad loans
Over 25,600 cases of banking fraud reported up to December 21, 2017, says Minister RS Prasad.
The government has opted for the RuPay debit card over the Aadhaar-based platform for "last-mile" authentication in its Pradhan Mantri Jan Dhan Yojana.
It is not often that Goswami's Nation-Wants-to-Know shows become material evidence in a murder trial no less. Nor was it something CBI Special Judge J C Jagdale was wildly enthused about. It had to be done because as he put it to CBI Special Public Prosecutor Kavita Patil caustically: "Your witnesses gave interviews to channels about a serious crime."
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