Can't jump to conclusions in bank money laundering case: FM

Earlier in the day, Cobrapost claimed its undercover investigation revealed ICICI Bank, HDFC Bank, Axis Bank ran money laundering rackets

Finance Minister P Chidambaram today said the banks named in the money laundering investigation by online magazine Cobrapost have denied the allegations. He also said it was too early for the government to reach any conclusion on the issue.   

“I have spoken to two of them and both chairmen told me that this is a completely incorrect story and they are issuing a statement. The third chairman is out of the country,” Chidambaram told reporters.

Earlier in the day, Cobrapost had claimed that its undercover investigation revealed lenders like ICICI Bank, HDFC Bank and Axis Bank ran money laundering rackets.

When asked whether the government had asked the regulators or the investigating agencies to look int to the matter, the finance minister said, “We don’t jump to conclusions within minutes.”