Syndicate Bank slumps after chairman's arrest

Reuters Market Eye - Syndicate Bank Ltd falls as much as 6.5 percent to its lowest since May 21.

The lender's chairman was arrested over allegations of taking bribes to grant loan extensions to a company.

The stock had already slumped 18 percent in July on profit-taking in mid-cap shares.

Despite July falls, Syndicate Bank was up 52.5 percent this year as of Friday.

(Reporting by Indulal PM)