Major Indian Private Sector Banks, HDFC Bank, ICICI Bank and Axis Bank, Are Blatantly Running A Huge Nation-wide Money Laundering Racket A Cobrapost pan-India undercover investigation spanning several months, unearths a vast, nation-wide money laundering racket being run by HDFC Bank, ICICI Bank and Axis Bank.  The brazen criminal activity by these banks is channelizing […]

The Reserve Bank of India (RBI) today penalised the country’s top three private lenders – ICICI Bank, HDFC Bank and Axis Bank – for violating its instructions on know-your-customer (KYC) and anti-money laundering (AML) guidelines. • Axis Bank has been fined Rs 5 crore, • HDFC Bank Rs 4.5 crore and • ICICI Bank Rs 1 crore. RBI […]