RBI, FIU examining reports on ICICI Bank, HDFC Bank, Axis Bank
New Delhi: The Reserve Bank as well as the Finance Ministry's Financial Intelligence Unit is looking into the allegations of money laundering by ICICI Bank, HDFC Bank and Axis Bank and accordingly action will be taken, Parliament was informed today.
There were some allegations of money laundering in the media against some private sector banks, Minister of State for Finance Namo Narain Meena said in written replies to separate questions in Rajya Sabha.
Accordingly, he said, the RBI has conducted a scrutiny in these banks to look into the allegations.
Financial Intelligence Unit (FIU-IND) has also reported that the "banks concerned, i.E Axis Bank, ICICI Bank and HDFC Bank" have also initiated enquiries and sent it an interim report, he said.
"These reports are being examined with a view to initiate further action for violations, if any, of the provisions of the Prevention of Money Laundering Act, 2002, concerning non - fulfilment of the obligations to verify the identity of the customers, maintain records and file statutory reports by FIU-IND," Meena said.
The statutory reports include cash transaction report and suspicious transaction report.
The country's three largest private banks were last month accused by online portal Cobrapost of indulging in money laundering activities.
Meena further said that FIU-IND had also taken up the matter with banks concerned and has reported that HDFC Bank and ICICI Bank have suspended their employees reported in the sting operation.
Axis Bank has transferred their involved employees from operational assignments to administrative office and the user access of the employees to certain systems of the bank has been disabled, he added.