Reserve Bank of India is initiating action against ICICI Bank, HDFC Bank and Axis Bank in connection with allegations of money laundering by an online news provider.
“Actions are on the way. Scrutiny has been done. Action is being taken both in respect of systemic level and at the individual banks,” RBI Deputy Governor HR Khan said on the sidelines of an event organised by National Housing Bank. Khan declined to give the details of the actions or the time frame. The country’s three largest private banks were last month accused by online portal cobrapost.com for facilitating money laundering after it carried out a sting operation.
ICICI Bank and HDFC Bank had appointed Deloitte Touche Tohmatsu India, an accounting and audit firm, to carry out an independent forensic enquiry into the allegations. Axis Bank launched an internal enquiry.
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