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finance | IST

Indian Banks' Association calls for emergency meeting to discuss 'high-handedness' of investigation agencies, says report

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“To slap a criminal case against bankers for sanctioning loans is silly,” VG Kannan, IBA CEO and former State Bank of India (SBI) official, told the paper. 

The Indian Banks’ Association (IBA) called an emergency meeting on Friday in Mumbai to discuss the recent arrests of bankers and the alleged 'high-handedness' of the investigation agencies, The Economic Times reported.
“To slap a criminal case against bankers for sanctioning loans is silly,” VG Kannan, IBA CEO and former State Bank of India (SBI) official, told the paper.
“We have already taken up the matter with the department of financial services in Delhi and the Maharashtra government here. Both claim ignorance about why these arrests happened and have promised all cooperation. We plan to meet on Friday and decide what to do next,” Kannan told the paper.
On Wednesday, the Economic Offences Wing (EOW) of the Pune Police arrested Ravindra Marathe, the Bank of Maharashtra chief executive officer and five other bank officials for allegedly being involved in the DS Kulkarni group loan case.
RK Dubey, former Canara Bank chairman, Archana Bhargava, former United Bank of India chairman among others are also facing charges.