-The Hindustan Times The Enforcement Directorate will "look with interest" at instances, if any, of tainted money being sent abroad through the illegal hawala channel in the Saradha Realty case, of which, there is significant possibility, ED sources told HT. Reports said that a substantial chunk of money had found its way to Dubai through hawala with the money being suspected to have been ploughed into the real estate sector. ED's investigations...
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Banks suppressing alerts on suspect dealings: RBI probe-Josy Joseph
-The Times of India NEW DELHI: An investigation by the Reserve Bank of India (RBI) into allegations of Money Laundering by private banks has found large-scale violations ranging from huge cash deposits without PAN to dummy numbers. The probe report, a copy of which is available with TOI, shows that three private players - HDFC Bank, ICICI Bank and Axis Bank - had also hugely suppressed alerts generated by their system on...
More »RBI probes Cobrapost report, reveals violations by banks: sources
-CNN-IBN New Delhi: The Reserve Bank of India is probing the Cobrapost sting operation on alleged Money Laundering by top banks. The RBI report has revealed major irregularities in top banks. The report shows string of violations on several counts. Sources say the RBI report reveals dummy PANs, unknown NRO IDs, unauthorised gold sale, rampant non-compliance of KYC norms and irregular staff trips. Sources say the RBI probe into ICICI Bank reveals cash...
More »Cobrapost exposes 10 more banks
-The Times of India Investigative website Cobrapost has released further secret tapes to show alleged Money Laundering by more banks. In the third part of its tapes, Cobrapost claimed that it has recorded officials of Bank of India, Central Bank of India, Bank of Maharashtra, Allahabad Bank and Bank of Baroda, all major public sector banks, as well as IndusInd Bank, ING Vysya Bank, HDFC Bank , ICICI Bank and Axis Bank,...
More »Action Against Banks if Guilty: RBI on Cobrapost Sting
-Outlook Reserve Bank of India (RBI) today said it has completed investigations against banks following the Cobrapost expose and will take action if they are found guilty of violating prudential banking norms. "We have done investigations, we have prepared an internal report. There are processes to be followed to take investigations to its logical closure... "The first is action against individual institutions who are involved in practises which are not consistent with the...
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