Cobrapost, an online magazine, claims to have caught on camera an expose that allegedly proves that some of the largest private sector banks in the country help in money-laundering. According to them, HDFC Bank, ICICI Bank and Axis Bank were part of a vast money-laundering racket.
Following this, Axis Bank has released the below mentioned press statement.Axis Bank has systems and processes that are robust and fully compliant with extant regulations. We will examine whatever information that is brought to our notice and investigate thoroughly. The Bank has built a strong customer franchise over the years and maintains high corporate governance standards. Any deviations to such standards are viewed very seriously. Best practices across businesses are followed by the Bank and we are confident that all our businesses will live up to the high standards we have set for ourselves as a Bank.