ICICI Bk drops 2.6% as money laundering allegations weigh

Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts
     ICICI Bk drops 2.6% as money laundering allegations weigh
    ICICI Bank: Quotes, News
    BSE 351.75BSE Quote1.35 (0.38%)
    NSE 352.05NSE Quote0.75 (0.21%)
    Shares in India's largest private sector Bank, ICICI Bank fell today by more than 2.6 per cent, as investors fretted over allegations of money laundering against the company. It maybe recalled the Cobrapost had conducted a sting operation in which it alleged that select employees of private sector banks like ICICI Bank, HDFC Bank and Axis Bank were engaged in money laundering.
     

    On Saturday, ICICI Bank suspended 18 concerned officials till investigations are completed. Earlier this week, the portal Cobrapost had played the contents of a purported video recording of officials of private banks including Axis Bank, allegedly agreeing to receive unverified sums of cash and put them in their investment schemes and benami accounts in violation of anti-money laundering laws

    Shares in Axis Bank and HDFC Bank were also trading lower following the allegations.

    GoodReturns.in

    Read more about: icici bank
    Story first published: Monday, March 18, 2013, 11:45 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more