The Reserve Bank of India on Thursday asked ICICI Bank, HDFC Bank and Axis Bank for information on allegations that they are helping customers convert black money into white as a standard service. Earlier in the day, investigative website Cobrapost, which made this sensational charge, said such illegal conversions, called money laundering, are being done with the full knowledge of the senior managements of the three banks. RBI Deputy Governor Urjit Patel said, “We have been in touch with the banks and have asked for information on the matter.”
The apex bank is expected to follow this up with a formal notice soon.........
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