Expressing concern over illegal Rs 6,000 crore transfer of funds through a Bank of Baroda branch, RBI Governor Raghuram Rajan Thursday said it will be pursued both by the central bank and investigative agencies to the "ultimate conclusion" to ensure that the guilty are made to "pay the price" for it.
The Enforcement Directorate has unearthed yet another trade-based money laundering case worth over Rs 550 crore perpetrated by allegedly using banking channels of nine major national and international banks, with illegal remittances being sent to Hong Kong and China.
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