State-Owned Indian Bank Chief Arrested For Trying To Keep Country’s Default Rate Down - Dealbreaker

State-Owned Indian Bank Chief Arrested For Trying To Keep Country’s Default Rate Down

Author:
Updated:
Original:

Sudhir Kumar Jain is sure there’s a reasonable explanation for the $80K that found its way to him from some companies that needed a little more time to pay their debt. India’s Central Bureau of Investigation is less so.

"Sudhir Kumar Jain was arrested late Saturday. He's in our custody," said Kanchan Prasad, CBI spokeswoman….

The CBI said it recovered 5 million rupees ($82,209) that was allegedly being paid by a private company to the bank's head through middlemen to get extensions on loans after it had defaulted on loan repayments.

Syndicate Bank Chairman Is Arrested [WSJ]

Related

Chaining them up in the tower on Maiden Lane was a non-starter. By Beyond My Ken (Own work) [GFDL or CC BY-SA 4.0-3.0-2.5-2.0-1.0], via Wikimedia Commons

Banking Culture Isn’t Going To Change So Why Bother Trying?

How do you regulate banks these days? How do you hold a moonbeam in your hand?

deutsche-bank-logo-eyes

Eurozone Blue Chip Index Has Mercy, Spares Investors From Owning Deutsche Bank

At this point, it’s basically a human-rights violation to do so.

How To Win At Negative Interest Rates

Scandinavians don't get why y'all are so hung up on J-Yells.