State Bank of India (SBI) chairman Pratip Chaudhury today said his bank had zero tolerance on the issue of corruption in the schemes being executed through banks and the employees of his bank seeking bribe would face stern punitive action.

"There is a Vigilance Wing which is dynamic... we have zero-tolerance on the issue of corruption... the bribe-seekers will have to face consequences and stern punitive action", Chaudhury said when mediamen approached him for his comment on the issue of corruption raised by chief minister Nitish Kumar at the State Level Bankers' Committee (SLBC) meet here.

"Now onward the banks will be more and more vigilant on this count", he said and informed that in all the local headquarters of the bank across the country, there was a full-fledged vigilance system functional under the office of the deputy general manager.

"The Vigilance people act swiftly on complaint of demand of bribe by bank employees... nobody will be spared", he said.

"We will embark on further circulating and highlighting the action to be taken against those seeking bribe in all the local branches of the banks", he said.

Referring to the scheme for sanctioning loan up to Rs One crore without guarantee to the Small and Medium Enterprises, Chaudhury said the bank had set up processing unit in every district in Bihar for the purpose.

chief minister alleged large-scale corruption in execution of the schemes through banks and asked the top executives during the SLBC meet to work forcefully to curb corruption in the banking sector.