SBI's internal panel probing on bribery charges clears Shyamal Acharya

DMD to continue to stay on leave

State Bank of India’s internal panel probing allegations of bribery against its Deputy Managing Director (DMD), Shyamal Acharya, has not found any major faults in transaction relating loan to company belonging to Delhi-based business group.

 

Arundhati Bhattacharya, chairman of SBI, said the transaction was done is normal course. The panel did not find something special (about allegations). Bank has submitted the probe report to finance ministry.
 

SBI spokesperson said the panel members have noted that the sanction appears to have been given in the ordinary course of business.

 

The country’s largest lender had begun internal probe after Central Bureau of Investigations (CBI) filed case on charges of corruption. A two-member committee, consisting of two senior managing directors A Krishna Kumar and Hemant Contractor, investigated the matter.  SBI had put Acharya on a leave after commencement of probes. Initially SBI panel was to submit report by week ended November 30.
 

Last month, CBI had lodged a case against Shyamal Acharya, former SBI official K K Kumarah, who had joined Worlds Window Group after leaving SBI as an advisor, and Goyal for offences punishable under section 120-B (criminal conspiracy) of the IPC and under provisions of the Prevention of Corruption Act.
 

Asked if Acharya would continue to remain on leave SBI chairman said he will remain on leave. Bank needs clarity from CBI. 

Acharya is alleged to have asked for a bribe to clear a Rs 400-crore loan proposal of Goyal's firm. According to the CBI, he was given two luxury watches as the first installment.