RBI team goes through Global Trust books
By Our Banking Bureau | 02 Apr 2002
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Hyderabad: A high-level team of Reserve Bank of India officials arrived at Hyderabad on 1 Aprili to go through the books of Global Trust Bank (GTB) following the sacking announced by the bank of seven of its top officials, including executive director and promoter of the bank Sridhar Subasri.
The bank on 30 February 2002 announced that the board has decided to fix the responsibility after examining the reasons for some of the banks accounts becoming irregular. It said the findings revealed certain deviations and serious irregularities.
The accountability committee of GTB, headed by one of its directors and former Madras High Court chief justice K A Swami, examined the problem accounts and recommended action against the top officials who were held responsible for the serious deviations and irregularities.
