Chairman of state-run bank arrested in India

  • The chairman of a state-run bank in India has been arrested along with many others over bribery allegations.

    According to the Central Bureau of Investigation (CBI), Sudhir Kumar Jain, chairman of the Syndicate bank, took bribes to raise the credit limits of companies. Five million rupees (£49,000) were recovered from him, the CBI said.

    CBI director Ranjit Sinha was quoted as saying that the agency was “determined to fight corruption at high levels”.

    Tagged as: chairman, state-run bank, India, bribery, CBI, Sudhir Kumar Jain, Syndicate bank, business news