-PTI ICICI Bank on Friday suspended 18 employees pending investigation, sources in the bank said, a day after an independent journalist accused it and two other private banks of money-laundering practices. The suspension is pending the bank’s investigation into money laundering charges, sources in ICICI told PTI. The probe is expected to be completed in two weeks. Country’s three largest private banks, including the ICICI Bank, were on Thursday accused of indulging in...

-Outlook Taking note of a sting operation that alleged money laundering by three leading private sector lenders, the Finance Ministry today said that it has asked banks for more details on the issue. "RBI has contacted the banks invloved...We have asked banks for more details on the expose," Banking Secretary Rajiv Takru said here. Meanwhile, RBI Deputy Governor Urjit Patel in Mumbai said the central bank is in touch with the concerned banks...

-The Times of India An undercover sting investigation across India has shown up startling videos of bank executives of three leading private banks - HDFC, ICICI and Axis - providing ready assistance to a reporter, posing as a minister's aide, for laundering black money into white through the banking system in clear contravention of banking norms and laws. Shaken by the disclosure, the three banks asserted that they were committed to transparent...

-Outlook A sting operation carried out by online magazine Cobrapost across various branches of private banks has revealed that banks are involved in money laundering. The sting operation shows that HDFC Bank, ICICI, and Axis Bank are running a nationwide money laundering racket. Cobrapost Editor Anirudh Bahal said that even senior management is involved in the practice. "Our investigation shows HDFC Bank, ICICI bank and Axis Bank rolling out the red carpet for...

-Cobra Post A sting operation conducted by online magazine Cobrapost across various branches of private financial institutions has revealed how bank employees are accepting black money from customers to convert them into white money. Cobrapost claims that the nationwide operation shows how private banking and insurance affiliates launder money as part of standard procedures. The sting also shows that money laundering services are openly being offered even to walk in customers who...