New Delhi: After two of its top officers were arrested by the Central Bureau of Investigation (CBI) for allegedly sanctioning loans in return for bribes, the LIC is likely to suspend them pending probe. The LIC board will meet on the issue soon.
A total of eight people have been arrested by the CBI. Among them: Ramchandran Nair, the Chief Executive Officer (CEO) of LIC Housing Finance; RN Tayal , General Manager of Bank of India; and Venkoba Gujjal , Deputy General Manager of Punjab National Bank. (Read: Top bank managers arrested for loans-for-bribes scam)