NEWS & ADVICE : PERSONAL LOAN
No transactional evidence of money laundering found in alleged banks: RBI
By Vaibhav Aggarwal
Apr 24, 2013
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The Reserve Bank of India has clarified that there is no transactional evidence of money laundering found in the top three private sector banks i.e. ICICI Bank, HDFC Bank and Axis bank involved in the Cobrapost expose.

"In none of their branches there was a case of money laundering... No transaction has taken place," said Mr. K.C. Chakrabarty, Deputy Governor, RBI.

Mr. Chakrabarty also said that the regulator was examining changing the way business is done, including KYC (know your customer) norms.

"There is no problem at a transactional level, some aberrations will always take place.There is a need to look into these issues," Deputy Governor said.

If necessary, as and when needed, banks and the RBI will take corrective measures, Mr. Chakrabarty added.

The RBI is undertaking thematic review in 34 other banks following the Cobrapost expose.


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