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SBI asks Dy MD Acharya to go on leave, sets up internal probe panel

SBI on Monday said that it has constituted an internal panel comprising two managing directors to probe the corruption charge against its deputy MD Shyamal Acharya, who has been asked to go on leave a day after his residence was raided by CBI.

‘We have been informed by the Central Bureau of Investigation that Shyamal Acharya, deputy managing director and group executive (mid corporate groups) of our bank is being investigated. Acharya has been asked to proceed on leave,’ State Bank of India said in a statement.

‘We have also constituted an internal committee comprising two senior managing directors to investigate internally,’ the statement said.

Though the statement did not name the MDs in the probe panel, it has been learnt that Hemant G Contractor, who is the MD and group executive for international banking, and A Krishna Kumar, MD and group executive for national banking, are the members.

The spokesman did not say when the report will be submitted by the panel, which was constituted on Sunday.

SBI said it stands committed to probity in its dealings and assured that it will continue to hold highest standards of honesty and transparency in its operations. The statement also said the bank is cooperating with the investigating agency in the probe.

On Sunday, CBI registered a case against Acharya, ex-SBI additional general manager K K Kumarah and chairman of Worlds Window Group Piyoosh Goyal for alleged graft in disbursing loan of above Rs 100 crore.

According to CBI, a team of its economic offences wing in Mumbai has registered a case against them for alleged graft. The agency sources said Goyal wanted a loan of over Rs 100 crore from SBI for his firm when Kumarah got involved.

They said Kumarah assured him of his contacts in the bank through which he could get that loan passed.

Sources said an arrangement was reached between Kumarah and Goyal under which he had to get Rs 25 lakh for his services and Rs 15 lakh for Acharya.
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