No wrongdoing by Acharya, says SBI panel

Acharya, who headed mid-corporate group for bank, was alleged to have facilitated the sanction of a loan against favours

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An internal panel of the State Bank of India (SBI), which probed graft allegations against Deputy Managing Director Shyamal Acharya, has found there was nothing "irregular" in sanctioning of the loan in question. Chairperson Arundhati Bhattacharya said the internal committee has not found any wrongdoing by Acharya. Acharya, who headed the mid-corporate group for the bank, was alleged to have facilitated the sanction of a loan against some favours.

"There is nothing irregular with the way the loan has been passed," a bank spokesman said on Friday

He declined to answer when asked what would happen to the case now, and whether Acharya, who was asked to go on leave after the allegations surfaced last month and Central Bureau of Investigation (CBI) started a probe, would resume work.

“This is only an internal committee report," the spokesperson said. The report was to have been submitted on November 30.

Financial Services Secretary Rajiv Takru said in New Delhi that the ministry has received SBI's internal probe report and is looking into it. He also said that he discussed the report with Bhattacharya.

"SBI has submitted the internal enquiry report in respect of sanction of a loan by the credit committee headed by Acharya to the department of financial services. The members of the internal enquiry committee have noted that the sanction appears to have been given in the ordinary course of business," the bank said in a statement.

The two-member probe panel comprised of Hemant Contractor and A Krishna Kumar, the senior-most managing directors. The Economic Offences Wing of the CBI registered a case against Acharya on November 24 after raiding his house in the city following a tip-off.

A criminal case was also registered against former SBI official K K Kumarah and Piyoosh Goyal, chairman of Delhi-based firm Worlds Window. Acharya is alleged to have asked for a bribe of Rs 15 lakh to clear a Rs 400-crore loan proposal of Goyal's firm.