After the Reserve Bank of India (RBI) fined ICICI, HDFC and Axis banks for flouting customer norms, highlighted by a Cobrapost expose, the latest sting operation by the online magazine exposes how some employees in two foreign banks in India have also been involved in accepting black money and agreeing to launder it. ...
11:32 PM, Jun 18, 2013
New Delhi: After the Reserve Bank of India (RBI) fined ICICI, HDFC and Axis banks for flouting customer norms, highlighted by a Cobrapost expose, the latest sting operation by the online magazine exposes how some employees in two foreign banks in India have also been involved in accepting black money and agreeing to launder it. HSBC and Standard Chartered officers have been caught in a Cobrapost sting operation, offering to...
10:00 PM, Jun 18, 2013
Mumbai: Three private banks, caught in the Cobrapost sting operation, have been let off the hook with paltry penalties. The Reserve Bank of India on Monday imposed penalties on Axis, ICICI and HDFC banks after a sting operation by online magazine Cobrapost exposed many loopholes. RBI imposed a penalty of Rs 5 crore on Axis Bank, Rs 4.5 crore on HDFC Bank and Rs 1 crore on ICICI Bank. The...
06:41 PM, Jun 10, 2013
Ahmedabad: There is "some truth" in Cobrapost's allegations of wrong doings by banks and RBI has issued notices to their managements, central bank Governor D Subbarao said on Thursday. "We have done study of those banks, investigated them ... We have done a larger study of those banks and we have issued notices to the bank managements and shall take appropriate actions," Subbarao said at a question answer session during...
11:20 PM, May 30, 2013
New Delhi: The Enforcement Directorate on Thursday attached a residential property of former Haryana Chief Minister OP Chautala under the criminal provisions of money laundering laws after he was recently convicted in a teachers recruitment scam. This is the first attachment order by the agency against the five-time Chief Minister even as it prepares to attach assets acquired by him "illegally and beyond his known source of income" with an...
10:46 PM, May 30, 2013
Mumbai: Amid allegations of cooperative banks being used as conduits for money laundering, NABARD, which jointly regulates such lenders, has said that it has found no shortcoming pointing towards any such activity. "Every year we do an inspection and we have not found anything like that," National Bank for Agriculture and Rural Development's (NABARD) chairman Prakash Bakshi told reporters over the weekend, when asked about the recent controversy over money...
02:22 PM, May 19, 2013
Port Louis: Facing allegations of being a route for round-tripping of funds and money laundering by Indian entities, Mauritius says it is fully committed to remain a credible financial centre and there has been 170 cases of exchange of information with Indian authorities in the past three years. Allaying the perception of Mauritius being a tax-haven, the government's investment promotion agency Board of Investment (BOI) also said that Mauritius on...
02:48 PM, May 17, 2013
New Delhi: The Reserve Bank of India is probing the Cobrapost sting operation on alleged money laundering by top banks. The RBI report has revealed major irregularities in top banks. The report shows string of violations on several counts. Sources say the RBI report reveals dummy PANs, unknown NRO IDs, unauthorised gold sale, rampant non-compliance of KYC norms and irregular staff trips. Sources say the RBI probe into ICICI Bank...
01:14 PM, May 13, 2013
Srinagar/Chandigarh: Amid fresh allegations of money laundering by banks, RBI and several banks on Thursday said actions are being taken against erring institutions and employees for violating prudential banking norms. The central bank has already completed investigations against banks and would take action against guilty institutions, RBI Governor D Subbarao said in Srinagar. "We have done investigations, we have prepared an internal report. There are processes to be followed to...
10:32 PM, May 09, 2013
Chandigarh: Bank officials' advices of splitting deposits to evade taxes, as exposed in a sting operation by an online news portal, are "undesirable loose talks" but there is no apparent criminality, SBI Chairman Pratip Chaudhuri said on Thursday. "Prima facie, things that have come to our notice it looks (that) there is no criminality in the sense that somebody has suggested splitting up your deposits, say Rs 50 lakh into...
09:45 PM, May 09, 2013
Srinagar: The Reserve Bank of India (RBI) on Thursday said it has completed investigations against banks following the Cobrapost expose and will take action if they are found guilty of violating prudential banking norms. "We have done investigations, we have prepared an internal report. There are processes to be followed to take investigations to its logical closure...The first is action against individual institutions who are involved in practises which are...
02:50 PM, May 09, 2013
Catch the day's top stories with Rajdeep Sardesai on India @ 9. ...
11:34 PM, May 06, 2013
As many as 23 public and private sector banks and insurance companies were on Monday accused of "running a nation-wide money laundering racket" by online portal Cobrapost, prompting the Finance Ministry and regulator IRDA to initiate independent investigations into the matter. ...
11:31 PM, May 06, 2013
CNBC TV18's Akanksha Sethi spoke to State Bank of India's chairman Pratip Chaudhary over the latest expose by Cobrapost revealing money laundering operations at SBI and other public sector unit banks. ...
09:48 PM, May 06, 2013
New Delhi: As many as 23 public and private sector banks and insurance companies were on Monday accused of "running a nation-wide money laundering racket" by online portal Cobrapost, prompting the Finance Ministry and regulator IRDA to initiate independent investigations into the matter. In its second expose, Cobrapost accused country's leading banks and insurance companies of "running a nation-wide money laundering racket, blatantly violating laws of the land". Those named...
09:48 PM, May 06, 2013
Part Two of the Cobrapost investigation on money laundering methods used by banks focused on 23 major public sector banks and financial institutions. This included the State Bank of India as also the Life Insurance Corporation. ...
09:34 PM, May 06, 2013
Part Two of the Cobrapost investigation on money laundering methods used by banks focused on 23 major public sector banks and financial institutions. This included the State Bank of India as also the Life Insurance Corporation. ...
09:26 PM, May 06, 2013
Part Two of the Cobrapost investigation on money laundering methods used by banks focuses on 23 major public sector banks and financial institutions. This includes the State Bank of India as also the Life Insurance Corporation. ...
07:33 PM, May 06, 2013
Special Investigations website Cobrapost has revealed that 23 banks and insurance companies have been engaged in money laundering. Among the 23 banks involved are mostly PSU banks including some big names like the State Bank of India, Bank of Baroda, Punjab National Bank, Canara Bank, IDBI, Oriental Bank and Dena Bank. Aniruddha Bahal, editor-in-chief, Cobrapost.com, joined IBNLive readers for an interaction on the matter. Q. Hats off to you and...
06:39 PM, May 06, 2013
Twenty three public sector banks, including the SBI, and insurance companies have been named in a sting operation conducted by special investigations website Cobrapost. ...
05:55 PM, May 06, 2013
