The Finance Ministry on Wednesday took stock of the alleged ₹6,100-crore remittance scam in State-run Bank of Baroda.
The newly appointed Chairman of BoB, Ravi Venkateshan, also met Finance Minister Arun Jaitley.
“It was a courtesy meeting with the Finance Minister. Investigations are on, it would be inappropriate to say anything,” he said after the meeting.
However, sources said the case is likely to be probed by the Serious Fraud Investigation Office and the amount of funds alleged to be involved could be lesser than estimated. Checks would be made over the entire banking system to prevent such cases in future.
“Our new Managing Director PS Jayakumar and I will together try to restore the bank’s image, which has taken a hit due to the case,” Venkateshan said.
Jayakumar took over as Managing Director and CEO of BoB on Tuesday.