Bankers in a state of shock after former SBI chairman Chaudhuri's arrest

State Bank says deal on which Chaudhuri was arrested was done after he retired; ex-SBI chairman Rajnish Kumar calls arrest vendetta; pathetic, blasphemous say others

Bankers expressed dismay and alarm at the arrest of former State Bank of India (SBI) chairman Pratip Chaudhuri just days after the government moved to absolve bankers from business decisions gone wrong, even as the bank put out a statement saying the deal in which Chaudhuri was arrested had concluded after he retired. 

“It is a sorry state of affairs, perhaps a vendetta,” said former SBI chairman Rajnish Kumar. “The sale of non-performing assets (NPA) is not done by one person, but a due process is followed,” Kumar said.

Sunil Srivastava, former deputy managing director of SBI, termed the arrest as “absolutely