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AI Drafter ✕

Generate professional replies to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter.

Step 1 – Issue Identification & Review

The AI analyses your query, notice, order, or uploaded documents and identifies the key issues involved.

• Review the issues identified by the AI
• Add, edit, remove, or refine issues as required


Step 2 – Draft Generation

Once you approve the issues, the AI performs issue-wise legal research and prepares a structured draft response.

• Relevant statutory provisions
• Judicial precedents and Supreme Court, High Court and other citations
• Issue-wise legal analysis
• Practical arguments and supporting content
• Professionally structured draft ready for further review.

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        FEMA & RBI

        RBI’s statement on fraud in Punjab National Bank

        February 17, 2018

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        There have been reports in the media that in the wake of fraud involving a sum of USD 1.77 billion that has surfaced in Punjab National Bank (PNB), the Reserve Bank of India (RBI) has directed PNB to meet its commitments under the Letter of Undertaking (LOU) to other banks. RBI denies having given any such instructions.

        The fraud in PNB is a case of operational risk arising on account of delinquent behaviour by one or more employees of the bank and failure of internal controls. RBI has already undertaken a supervisory assessment of control systems in PNB and will take appropriate supervisory action.

        Jose J. Kattoor

        Chief General Manager

        Operational risk from employee misconduct prompts supervisory assessment and potential regulatory action by regulator. Operational risk due to employee delinquency and internal control failure is the core issue; the regulator denied directing the bank to meet other banks' obligations under Letter of Undertaking (LOU) arrangements and has undertaken a supervisory assessment of the bank's control systems with a statement that appropriate supervisory action will follow.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Operational risk from employee misconduct prompts supervisory assessment and potential regulatory action by regulator.

                                Operational risk due to employee delinquency and internal control failure is the core issue; the regulator denied directing the bank to meet other banks' obligations under Letter of Undertaking (LOU) arrangements and has undertaken a supervisory assessment of the bank's control systems with a statement that appropriate supervisory action will follow.


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