Shares of ICICI Bank and Axis Bank are trading lower by 3% each, extending their Friday’s fall, on reports that that these banks have suspended their employees following a report by news website Cobrapost that purportedly shows employees at the lender.
ICICI Bank has dipped by 3% to Rs 1,036 on the Bombay Stock Exchange (BSE). The stock of the country’s largest private sector lender has tanked 7% in past two trading session compared to 1.6% fall in benchmark Sensex.
Axis Bank too, is trading lower by 2.5% at Rs 1,313 on BSE. The stock opened at Rs 1,317 and hit a low of Rs 1,300 so far.
“ICICI Bank has suspended 18 employees, pending enquiry, following allegations that it is one of the three private banks that run a money laundering racket,” the Business Standard report suggest.
“Axis Bank has removed the employees, allegedly involved in money laundering racket, from operational roles and relocated them to the bank's administrative office,” added report.
ICICI Bank has dipped by 3% to Rs 1,036 on the Bombay Stock Exchange (BSE). The stock of the country’s largest private sector lender has tanked 7% in past two trading session compared to 1.6% fall in benchmark Sensex.
Axis Bank too, is trading lower by 2.5% at Rs 1,313 on BSE. The stock opened at Rs 1,317 and hit a low of Rs 1,300 so far.
“ICICI Bank has suspended 18 employees, pending enquiry, following allegations that it is one of the three private banks that run a money laundering racket,” the Business Standard report suggest.
“Axis Bank has removed the employees, allegedly involved in money laundering racket, from operational roles and relocated them to the bank's administrative office,” added report.
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