Vijay Pahuja

The government suspended Syndicate Bank chairman and managing director S K Jain on Monday, two days after the Central Bureau of Investigation (CBI) arrested him for allegedly accepting a bribe of Rs 50 lakh to enhance the credit limit of some companies.

Chairman & Managing Director of Syndicate Bank SK Jain and seven others were on Sunday remanded in CBI custody for four days as the agency plans to probe various other angles into the case that may emerge from the telephonic transcripts of the official and conduits.

The government suspended Syndicate Bank chairman and managing director S K Jain on Monday, two days after the Central Bureau of Investigation (CBI) arrested him for allegedly accepting a bribe of Rs 50 lakh to enhance the credit limit of some companies.

Chairman & Managing Director of Syndicate Bank SK Jain and seven others were on Sunday remanded in CBI custody for four days as the agency plans to probe various other angles into the case that may emerge from the telephonic transcripts of the official and conduits.