Explained: Why ex-SBI chief Pratip Chaudhuri’s arrest has baffled banking industry

Pratip Chaudhuri’s arrest in connection with an alleged loan scam case has sent shockwaves across the public sector banking space, leaving many top bankers in disbelief.

Former State Bank of India (SBI) chairman Pratip Chaudhuri’s arrest in connection with an alleged loan scam case has sent shockwaves across the public sector banking space, leaving many top bankers in disbelief.

Chaudhuri, 68, was arrested by Rajasthan Police from his home in Delhi on Sunday after a complaint was filed against him for the alleged sale of a non-performing asset (NPA) to an asset reconstruction company (ARC) at a low value.