The Big Bank Scam: Private Banks Now Under Scanner?
The bank fraud scam widens and now it turns out that big private banks could be exposed. Chanda Kochchar, the very high profile head of ICICI and Shikha Sharma of Axis Bank were summoned today by the serious fraud investigation office. This is about a case in which 31 banks lent over 5,000 crores to Mehul Choksi. However, neither appeared today. Axis sent representatives while ICICI sought more time. Public banks have already been compromised. Could private banks be compromised as well?
