clean-chit to ICICI Bank, HDFC Bank and Axis Bank_KYC norms

 

Subbarao, speaking at the customary post-policy media interaction, asserted that while money laundering, which involves use of criminal money, has not been observed in any of the banks, certain "specific transgressions" on the know-your-customer (KYC) front have been discovered.

The RBI  said it has not given clean-chit to ICICI Bank, HDFC Bank and Axis Bank, which are accused of money laundering and flouting KYC norms, and stated the probe against the three banks is still on.The inquiry is still in progress," RBI Governor D Subabrao told reporters when asked whether the apex bank had given clean chit to the three banks.