The Economic Offences Wing (EOW) of Mumbai Police on Wednesday arrested Surjit Singh Arora, one of the former directors of the scam-hit Punjab & Maharashtra Cooperative Bank.
This is the fifth arrest in the case.
Arora was summoned for questioning by the EOW's special investigation team earlier in the day.
He was a director of the PMC Bank and was also on its loan committee, said an EOW official.
Also read
- ICRA sees bank credit growth slowing to around 12% from over 16% on the back of regulatory measures, tighter funding
- How private lenders HDFC, Kotak Bank and RBL fared in July-September quarter
- Goldman Sachs layoffs: Latest round of job cuts to affect 1,300 to 1,800 employees
- Flagging deposit growth just a statistical myth, says largest public lender SBI
"His role in the scam has come to light. He was involved in the loan sanctioning process," the official said.
The EOW has already arrested promoters of HDIL group Rakesh and Sarang Wadhawan, former PMC Bank chairman Waryam Singh and former managing director of the bank Joy Thomas after the alleged Rs 4,355 crore scam came to light.
