Despite the huge blow of $1.8 billion fraud, India’s second largest public sector bank is hopeful of coming out of the problem in the next six months, according to its top official. “We will get back to normalcy within six months. Bank has the size and capacity to come out of the problem,” Sunil Mehta, Managing Director and Chief Executive Officer of Punjab National Bank told a investors’ conference call on Friday. He said the bank was going through some problems but “we will fix it.” Mehta on Thursday said the bank “will not spare anyone” involved in the crime. During the investors’ concall the bank chief reiterated that the incident was a standalone case. “We are looking at gaps in our existing controls, systems and trying to control them,” he added.
(More details are to be awaited.)