Heads of top 10 PSBs met finance minister Arun Jaitley on Monday and expressed their concern over aggressive investigation into non-performing loans which they said has impacted business. They also discussed a host of other issues undermining the performance of PSBs. Among those who attended the meeting were Arundhati Bhattacharya, chairman of State Bank of India, Usha Ananthasubramanian, MD of Punjab National Bank, and IDBI CEO Kishor Kharat. Indianmandarins has learnt that the meeting was sought by bankers through the Indian Banks' Association (IBA) owing to widespread fear among bankers after the arrest of former bank officials in the case of Kingfisher loans. "There is almost a banking paralysis in public sector banks. We were looking to seek assurance from the finance ministry that there will be no witch-hunt," said an official, who sought anonymity. Banks Board Bureau chairman Vinod Rai had earlier stated that there would be no witchhunt against bankers for loan defaults and that investigation agencies cannot take action without merit in cases. "I am confident that no action would be taken against any banker unless there were very clear indications of malfeasance," he had said.