This ad will auto close in 10 seconds

Money laundering: RBI begins scrutiny of ICICI, Axis and HDFC banks

"The final reports on all the three banks will be completed by March 31, 2013 and thereafter further course of action as necessary will be initiated," it added.

Finmin, RBI looking at allegations against pvt banks: Chidambaram

Meanwhile, three private sector banks -- ICICI Bank, Axis Bank and HDFC Bank -- named in the sting operation have taken action by suspending staff concerned pending investigation.

Money laundering allegations: Banks start probes

Both the Reserve Bank and the Finance Ministry have sought more details on the issue.