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 Rs 50,000 or 1 lakh. So far, it looks like loose talks, but even that loose talk is undesirable," he told reporters here when he was asked to comment on allegations of money laundering by online portal Cobrapost.
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09:45 PM, May 09, 2013
Following the money laundering allegations against it along with a few other private banks, ICICI Bank on Friday suspended 18 of its employees. Earlier, Kotak Mahindra Bank issued a clarification saying none of its employees were involved in money laundering. "We wish to clarify that no such transactions by the alleged person have been routed via Kotak Mahindra Bank," said Kotak Mahindra Group spokesperson reacting to a CNN-IBN story. ...
10:29 PM, Mar 15, 2013
The Financial Intelligence Unit (FIU) of the Finance Ministry will probe an alleged sting operation conducted by an online portal claiming that the country's three large private banks indulged in money laundering both within and outside India. The FIU will also provide information in this regard to the Income Tax department which has already begun a probe into the contents of the sting operation, a senior I-T official said on... 
