The All-India Bank Employees Association has welcomed the Central Government’s decision to dismiss Syndicate Bank Chairman and Managing Director SK Jain, who was arrested by the CBI for allegedly accepting a bribe.

CH Venkatachalam, General Secretary of the association, said that the Government should at once formulate exclusive regulations to deal with executive directors and CMDs of public sector banks in view of the growing number of allegations of irregularities and corruption by top officials of banks. He said the association had for long been demanding that clear-cut regulations and code of conduct be laid down for the functioning of bank chiefs who dealt with enormous sums of public money.

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