<div style="color: #222222; font-family: arial, sans-serif; font-size: 12.8px;"><br />''</div>''<div style="color: #222222; font-family: arial, sans-serif; font-size: 12.8px;">Finance Ministry today directed Public Sector Banks (PSBs) to probe all NPA accounts of over Rs 50 crore for possible fraud and accordingly report the cases to CBI.&nbsp;</div>''<div style="color: #222222; font-family: arial, sans-serif; font-size: 12.8px;"><br />''</div>''<div style="color: #222222; font-family: arial, sans-serif; font-size: 12.8px;">In a tweet, Financial Services Secretary Rajiv Kumar said the managing directors of PSBs have been directed to detect bank frauds and refer cases to the CBI.&nbsp;</div>''<div style="color: #222222; font-family: arial, sans-serif; font-size: 12.8px;"><br />''</div>''<div style="color: #222222; font-family: arial, sans-serif; font-size: 12.8px;">He said the PSBs have also been asked to involve Enforcement Directorate and&nbsp; Directorate of Revenue Intelligence for violations of PMLA, FEMA or Export-Import norms.</div>''<div style="color: #222222; font-family: arial, sans-serif; font-size: 12.8px;"><br />''</div>''<div style="color: #222222; font-family: arial, sans-serif; font-size: 12.8px;">The direction comes amid state-owned lender PNB reporting 12,700 crore rupees fraud through alleged fraudulent misuse of letters of an undertaking by jeweller Nirav Modi and associates. Other PSBs too have approached investigating agencies as borrowers have not returned loans.</div>''<div style="color: #222222; font-family: arial, sans-serif; font-size: 12.8px;"><br />''</div>''<div style="color: #222222; font-family: arial, sans-serif; font-size: 12.8px;">The Ministry has also asked the banks, with combined gross NPAs of about 8.5 lakh crore rupees, to go in for prompt fraud identification and take action within prescribed deadlines.</div>''<div style="color: #222222; font-family: arial, sans-serif; font-size: 12.8px;"><br />''</div>''<div style="color: #222222; font-family: arial, sans-serif; font-size: 12.8px;">Mr. Kumar said banks will also have to seek borrower status report from Central Economic Intelligence Bureau (CEIB) on the account turning NPA and CEIB will have to revert in a week.</div>