BRIEF SUMMARY OF EXERCISE TAKEN BY IOV REGARDING DEPANALLED VALUERS BY PUNJAB NATIONAL BANK

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BRIEF SUMMARY OF EXERCISE TAKEN BY IOV REGARDING DEPANALLED VALUERS BY PUNJAB NATIONAL BANK

In view of the circular regarding Measures to prevent irregularity by professionals on the panel of PSBs/PSCIs issued by Vigilance section, Department of Financial Services, Ministry of Financial, Punjab National Bank through its letter dated 11.10.2022 (attached as Annexure - I) sent a list of 63 Depanalled Valuers to IOV on account of Professional Misconduct for suitable action there on, prior to taking any action, IOV followed a detailed procedure, which involved seeking further clarifications from the valuers and PNB officials accordingly.

IOV sent communications to all the Depanalled Valuers and the respective Zonal Heads of PNB, requesting additional information and clarification regarding the allegations of professional misconduct.

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