Axis Bank initiates to examine thoroughly money laundering allegations
By Neelima Shankar
Mar 18, 2013
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Private sector lender, Axis bank has asked 16 concerned officials to report to administrative offices, pending investigation which has been initiated for alleged money laundering activities.

"The bank has initiated an internal enquiry. Pending outcome of the enquiry, we have asked 16 concerned employees to report to administrative offices," sources in the Axis Bank said.

Country's three largest private banks have been alleged by online portal Cobrapost for indulging in money laundering scam.

ICICI Bank has suspended around 18 officials till investigations are completed.


(Comments Posted : 2) Post Your Comments
AAaBcceB (Posted: Jul 11, 2013)
2. Axis Bank and ICICI Bank are down by 0.76% at Rs 1,344) and 3.33% at Rs 1,073.80 edged lower. Also AXIS Bank had underperformed the market over the past one month till 14 March 2013, declining 5.41% compared with the Sensex's 0.38% rise. The scrip had also underperformed the market in past one quarter, rising 0.09% as against Sensex's 1.31% gain.
RoySmith (Posted: Mar 25, 2013)
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