RBI, Finance Ministry to probe money laundering allegations

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 RBI, Finance Ministry to probe money laundering allegations
The Reseve Bank of India and the Finance Ministry will probe money laundering allegations against ICICI Bank, HDFC Bank and Axis Bank, reports have stated.

"All government agencies and regulators are working together to probe charges," Rajiv Takru, secretary of financial services, told TV station ET Now on Friday, Reuters has reported.

A Cobrapost pan-India undercover investigation found that HDFC Bank , ICICI Bank and Axis Bank of running a vast, nation-wide money laundering racket.

Cobrapost, is an online magazine, conducted a sting operation across various branches of private financial institutions recently.

Meanwhile, the shares of ICICI Bank, HDFC Bank and Axis Bank were marginally down in trade today, after recovering sharply on Thursday.

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Read more about: rbi, cobrapost, axis bank, icici bank, hdfc bank
Story first published: Friday, March 15, 2013, 10:30 [IST]
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