CEO of Bank of Baroda in SA, Sanjay Agarwal, has died
Bank of Baroda provides banking services to companies controlled by the Gupta family
Sanjay Agarwal, the CEO of Bank of Baroda’s South African unit, has died. Bank of Baroda provides banking services to companies controlled by the Gupta family, who are in business with President Jacob Zuma’s son. SA’s four largest banks last year cancelled accounts belonging to the companies, saying in separate court documents that they terminated their relationships with the Guptas because continuing to do business with them risked hurting their reputations. "The South African Reserve Bank is aware of the passing away of Bank of Baroda CEO, Mr Sanjay Agarwal, and conveys our sympathies to his family and the staff of the bank," the Reserve Bank said in an e-mailed response to questions on Thursday. It did not give further details. A person who answered the phone at Bank of Baroda’s Johannesburg offices declined to comment, referring queries to the corporate offices in Mumbai, where calls to two different numbers were not answered. The Gupta family has been accused of using its frien...
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