Shares of Syndicate Bank today plunged over 8 per cent after the CBI arrested its Chairman and Managing Director S K Jain for allegedly taking bribe of Rs 50 lakh for increasing credit limit of some companies.

Syndicate Bank's scrip slumped 8.57 per cent to Rs 132.25 on the BSE.

At the NSE, it tumbled 8.45 per cent to Rs 132.10.