ICICI Bank has dipped almost 5% to Rs 1,056 on BSE in noon deals on back of heavy volumes on reports that the government is investigating the allegations of money laundering practices.
“The Finance Ministry and Reserve Bank of India are investigating allegations of money laundering practices at top private sector lenders ICICI Bank, HDFC Bank and Axis Bank,” the Reuters report suggests.
On Thursday, an online magazine, Cobrapost, claimed that it has captured the money laundering racket run by these banks on video tapes.
Meanwhile, all these three banks have started internal probes to examine the money laundering claims.
“ICICI Bank has already constituted a high level inquiry committee, which will submit its report in two weeks. HDFC Bank and Axis Bank have also formed teams comprising of senior executives of the banks to investigate Cobrapost's claims,” the Business Standard report suggests.
The stock opened at Rs 1,101 and hit a high of Rs 1,103 on NSE. As many as a combine 3.59 million shares have changed hands on the counter till 1236 hours against an average 3.6 million shares that were traded daily in past two weeks on NSE and BSE.
Axis Bank is trading lower 2.5% at Rs 1,320, while HDFC Bank down 1.7% at Rs 638 on NSE.
“The Finance Ministry and Reserve Bank of India are investigating allegations of money laundering practices at top private sector lenders ICICI Bank, HDFC Bank and Axis Bank,” the Reuters report suggests.
On Thursday, an online magazine, Cobrapost, claimed that it has captured the money laundering racket run by these banks on video tapes.
Meanwhile, all these three banks have started internal probes to examine the money laundering claims.
“ICICI Bank has already constituted a high level inquiry committee, which will submit its report in two weeks. HDFC Bank and Axis Bank have also formed teams comprising of senior executives of the banks to investigate Cobrapost's claims,” the Business Standard report suggests.
The stock opened at Rs 1,101 and hit a high of Rs 1,103 on NSE. As many as a combine 3.59 million shares have changed hands on the counter till 1236 hours against an average 3.6 million shares that were traded daily in past two weeks on NSE and BSE.
Axis Bank is trading lower 2.5% at Rs 1,320, while HDFC Bank down 1.7% at Rs 638 on NSE.
