CBI arrests Syndicate Bank CMD SK Jain for taking bribe

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PTI

NEW DELHI: The CBI arrested six people including chairman and managing director of Syndicate Bank Sudhir Kumar Jain on Saturday for allegedly taking bribe of Rs 50 lakh for increasing credit limit of some companies in violation of banking rules.

Syndicate_Bank_CMD_SK_Jain_PTI_360x417After keeping a watch on the activities of Jain for last six months on the directive of CBI director Ranjit Sinha, CBI sleuths finally swooped on his relative and a Madhya Pradesh-based chartered accountant and arrested them while allegedly receiving cash from representatives of companies which have been involved in coal scam.

The CBI has filed two cases against Jain accusing him of receiving a bribe of Rs 50 lakh through conduits and abusing his official position to enhance the credit limits of some companies in violation of laid down procedures, official sources said.

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