COBRAPOST

Audit finds aberrations in ICICI, HDFC, Axis: Takru

A Reserve Bank of India audit has found certain ‘aberrations’ at ICICI Bank, HDFC Bank and Axis Bank, which were accused of money-laundering by an online portal, but no risk of systemic failure was discovered, Banking Secretary Rajiv Takru on Thursday said.

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Banking after the investigation

Wealth management services (WMS) undertaken by banks have gained substantial prominence in the reform era. With bank managements forced to look for additional avenues to boost […]

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RBI fines 3 banks Rs 10.5cr for violating KYC norms

MUMBAI: The Reserve Bank of India (RBI) has imposed penalties on Axis Bank, HDFC Bank and ICICI Bank of Rs 5 crore, Rs 4.5 crore and Rs 1 crore respectively for violation of anti-money laundering norms. Noting that no money laundering appears to have taken place, RBI on Monday said that a conclusive inference can be drawn only by an end-to-end investigation by tax and enforcement agencies.

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COBRAPOST EXPOSE IMPACT: RBI PENALISES AXIS, HDFC, ICICI BANKS

The sting operation conducted by the online portal Cobrapost on Monday came back to haunt the banks it had snooped on as the Reserve Bank of […]

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Cobrapost shows brighter side of Indian banking

In its latest expose, portal reveals ‘ethical bankers’ who refused to launder money in addition to charges on foreign banks

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Cobrapost investigation HSBC, Standard Chartered

Global banking behemoths HSBC and Standard Chartered, whose employees were today accused of participating in money laundering in the latest sting operation by investigative website Cobrapost, have launched probes into the allegations. HT reports.

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Axis, HDFC & ICICI Banks Fined for KYC Violations

The Reserve Bank on Monday imposed a fine of .` 5 crore on Axis Bank, .` 4.5 crore on HDFC Bank and .` 1 crore on […]

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RBI slaps penalty on ICICI,Axis,HDFC Bank

‘Violation of some rules found but no evidence of money laundering’

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‘Stung’ Axis, HDFC, ICICI banks fined by RBI

The RBI on Monday imposed a fine of Rs 5cr on Axis Bank, Rs 4.5cr on HDFC Bank and Rs 1cr on ICICI Bank for violation of KYC norms and anti-money laundering guidelines. HT reports.

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RBI fines Axis, ICICI & HDFC Bank for KYC norms breach

The Reserve Bank of India (RBI) has slapped monetary penalties on Axis Bank, HDFC Bank and ICICI Bank for violating certain KYC and anti-money laundering norms following the central bank’s investigation into allegations made by the online portal Cobrapost.

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Axis, HDFC Bank, ICICI Fined for Violating RBI Laundering Rules

India’s central bank ordered HDFC Bank Ltd., the country’s biggest by market value, Axis Bank Ltd. and ICICI Bank Ltd. to pay penalties for flouting rules […]

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Cobrapost expose: RBI penalises Axis, HDFC, ICICI banks

MUMBAI: The Reserve Bank of India today imposed a fine of Rs 5 crore on Axis Bank, Rs 4.5 crore on HDFC Bank and Rs 1 crore on ICICI Bank for violation of KYC norms and anti-money laundering guidelines after inquiring into charges levelled by a online portal Cobrapost.

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Cobrapost expose: RBI fines Axis Bank, HDFC, ICICI

The central bank penalized Axis Bank Rs.5 crore, HDFC Bank Rs.4.5 crore and ICICI Bank Rs.1 crore

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RBI fines Axis, HDFC & ICICI banks

But says no prima facie evidence of money laundering

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Cobrapost expose: Reserve Bank slaps fine on three banks

The Reserve Bank of India (RBI) has imposed fine on three private sector banks — Axis Bank, HDFC Bank and ICICI Bank – for violation of KYC (know your customer) norms.

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Can’t bank on it

The RBI board makes no attempt to review its regulatory failures

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investigation on: Banks face steep penalty

MUMBAI: Banks involved in the investigation operations could face severe penalties running into crores of rupees as compared to past offences where penalties ranged from Rs […]

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Cobrapost impact: bank audits set to get tougher

The Reserve Bank of India (RBI) and the government could look at reinstating audit system even in “smaller” branches with advances below Rs 20 crore following rampant violation of know your customer (KYC) norms by banks revealed by investigative website Cobrapost. Mahua Venkatesh reports.

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If bank boards aren’t capable, nothing much can be done: K C Chakrabarty

K C Chakrabarty, RBI deputy governor Reserve Bank of India Deputy Governor K C Chakrabarty says the central bank has not found any evidence of illegal or irregular transactions by banks, as alleged by Cobrapost. In an interview with Manojit Saha, he also said banks may have indulged in “traffic rule violations” but “no accident has taken place”. Edited excerpts.
Irrespective of what Cobrapost has alleged, do you think the more basic issue is mis-selling of financial products by banks?

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Cobrapost exposes 10 more banks

NEW DELHI: Investigative website Cobrapost has released further secret tapes to show alleged money laundering by more banks.

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Public sector banks suspend 15 employees after Cobrapost investigation

NEW DELHI: In a quick response to a finance ministry directive to identify and suspend any employee who can be identified in the Cobrapost video as […]

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Banks suspend 15 people after expose

Public sector banks on Tuesday suspended 15 of their officers and employees, divested 10 of their work and asked half a dozen to proceed on leave, a day after Cobrapost expose revealed money laundering in PSU banks and financial institutions.

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Money laundering expose investigation SBI, LIC & 21 others

CASH CUSHION: To relieve banks from the excessive fund shortage caused mostly due to sluggish govt spending, RBI has bought Rs 1.3 lakh crore of bonds through open market operations in 2012-13

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Cobrapost fails to investigation bank stocks

Banking stocks remain flat, with the broad-market indices, Sensex and Nifty, going up a marginal half per cent

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Investigation catches SBI, LIC ‘violating’ govt norms

NEW DELHI: Investigative website Cobrapost on Monday released fresh videos which alleged widespread wrongdoing by a host of financial sector entities including state-run giants State Bank […]

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Insurance gateway for money laundering

NEW DELHI: Tinoo and Arvind Joshi, the suspended IAS couple from Madhya Pradesh, faced CBI raids soon after it was discovered that they had purchased life […]

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LIC says its system doesn’t accept large cash sans PAN

“We will also strengthen our money laundering rules and regulations and tighten the KYC requirements of banks,” he said.

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Cobrapost bites banks, insurers

GREY ANATOMY Website alleges money laundering, mismanagement, violation of know your customer laws

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COBRAPOST ACCUSES 23 BANKS, INSURANCE FIRMS OF MONEY LAUNDERING

In what could be termed as a sequel to its earlier expose of private banks, investigative website Cobrapost on Monday released another set of videos through a sting operation, accusing several leading public sector banks and Government-owned as well as private insurers of indulging in money laundering.

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The money laundering trail

NEW DELHI, MAY 6:
A sting operation has alleged the involvement of 23 banks and financial institutions (FIs) in money laundering.

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Banks, insurance firms deny money laundering charge

Banks and insurance companies charged with allegations of money laundering and violations of Know-your-customers (KYC) norms as part of investigations by online magazine, Cobrapost, have denied any such instances.

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Money laundering charge: FinMin asks banks, LIC to act tough

‘Initiate a detailed scrutiny and institute special audit if necessary’

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Cobrapost Expose 2: Banks, LIC face FinMin heat

DFS Secretary advises banks to suspend erring employees, submit report

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Cobrapost investigation: Action against banks involved in wrongdoings soon,says RBI

Web portal Cobrapost has accused ICICI,HDFC and Axis Banks of indulging in money laundering.

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RBI to act against banks in investigation operation

MUMBAI: The Reserve Bank of India (RBI) has said that it will initiate action against the three private banks named in the recent sting operation by a web portal which exposed willingness of bank employees to be accomplices in money laundering. This will be the first major action by the central bank following the enactment of the Banking Regulation Amendment Act which empowers RBI to impose higher penalties up to Rs 25 lakh per offence.

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Banks, NBFCs lose R1.43 lakh cr M-cap

Witnessing a sharp value erosion in their scrips during the last quarter of the current fiscal, about 50 listed banks and non-banking financial corporations (NBFCs) of […]

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RBI probing charges of money laundering, ICICI, HDFC & Axis Bank under lens

MUMBAI: The Reserve Bank of India has begun a probe into allegations that staff at Axis Bank, HDFC Bank and ICICI Bank encourages customers to evade […]

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Need for corrective action: Subba

BANGALORE: Reserve Bank governor D Subbarao on Friday said he couldn’t make a sweeping statement that there weren’t any illegal transactions happening in the banking system, but assured […]

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‘No money laundering’: RBI gives clean chit to ICICI, Axis, HDFC

RBI on Thursday pooh-poohed money-laundering allegations against three private sector banks — ICICI Bank, HDFC Bank and Axis Bank — saying that a recent sting by Cobrapost involved no real violation of law. HT reports.

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RBI launches comprehensive probe into 3 banks

The Reserve Bank of India on Monday said it has launched “comprehensive scrutinies” covering the head offices and branches of ICICI Bank

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investigation operation reveals money laundering by top banks

NEW DELHI: An undercover  investigation across India has shown up startling videos of bank executives of three leading private banks – HDFC, ICICI and Axis – […]

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COBRA Investigation PVT BANKS

India’s top private banks — ICICI Bank, HDFC Bank and Axis Bank — are involved in a big way in money laundering and facilitating deposits of black money in violation of all RBI and Income Tax norms. The banks were caught red handed in a nationwide sting operation by the Cobrapost, a leading investigative portal. Several branches of the three banks were probed by the portal.

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ICICI, Axis, HDFC Bank start probe into ‘laundering’ charges

The country’s top three private banks — HDFC Bank, ICICI Bank and Axis Bank — said on Thursday that they have initiated internal investigations into allegations […]

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Money laundering by pvt banks, claims investigation

The Central Board of Direct Taxes (CBDT) has ordered an inquiry after an online portal claimed that three private banks of the country were indulging in […]

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MY BIZ: Money laundering investigation hits big banks

The Finance ministry and the Reserve Bank of India (RBI) have decided to investigate allegations of widespread money laundering against the country’s three biggest private sector […]

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Journos hounded for exposing the corrupt

Two journalists – one of them arguably the country’s foremost investigative hacks – have been booked for abetting corruption.

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Keeping Wickets For Sunny

Playing with childhood heroes was like a dream come true, even though it took some fudging

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