Bankers have blamed lax regulations and said some bank officials were working in league with fraudsters.
DHFL’s creditors include mutual funds, pension funds, insurance firms and a wide array of retail investors.
PCA is aimed at improving the performance of the bank and will not have any adverse impact on the day-to-day operations.
Religare Finvest has accused Lakshmi Vilas of misappropriating 7.9 billion rupees it kept with the bank as a fixed deposit.
The central agency issued a provisional attachment order under the Prevention of Money Laundering Act (PMLA) against the firm.
Irfan Siddiqui's statement was recorded under PMLA after he was grilled about his purported links with Sandesara brothers.
Ex-chief of both Renault and Nissan Carlos Ghosn, is awaiting trial in Japan on charges of fraud.
Allahabad Bank is the second state-owned lender to report a fraud by Bhushan Power and Steel Ltd (BPSL), to the RBI.
Bhushan Power & Steel among the first 12 companies referred by RBI to a bankruptcy court for a debt resolution process.
PNB has been defrauded of over USD 2 billion in a separate scam that came to light last year.