That`s how the rich get richer and poor get poorer...no rocket science to decode that. Licences should be suspended and penalties imposed. Its akin to theft, robbery, dacoity, hawala, benaami,,,,what have you.

Talking about ways to convert Black money to White... This happened when I was sitting across a loan officer in one of the PSU banks. A customer walks in and sits besides me to inquire about a certain loan product for a few lakhs and he also ended up mentioning that his main intention was to convert his Black money to White!!! He was of course a business man with a few shops / workshops etc. I started wondering how could he achieve his goal???... I am still wondering BTW :)

Mr.Anirudh Behel has exposed what is only tip of the berg. Has to be concluded in more an efficient manner and swiftly, Banks as such their credibility is more than wanted at this point of time.

It is happening in all banks for sure. Drug peddlers, smugglers, arms dealers park their money in Swiss Banks which is not retrievable. Real Estate, cinema/entertainment world bring back black money through Asian Tax heavens and small people like Doctors, Charted Accountants, Professionals and Self Eployed resort to Banking channels to saved income as a white asset.

At the end of the day these three biggies have thrashed the reputation of indian banks but there is no doubt most of the banks will be involved in such activites

some fund manager may hv done one or cases, that does not mean the bank is chor.

MAY BE

these banks will crash anytime leaving behind people shouting

New license should be put on hold. If the banks with supposed to be good professional managements are doing this means one can imagine what the banks under Anil Ambanis, Shriram and other groups would do. RBI neither has the powers or willingness to control. After all when government is supporting all the malpractices and has always protected the black money stashed abroad, RBI`s hands also tied.

Almost all Indian Banks are involved. In fact PSU banks are more under the pressure of political leaders and they do such shady deals much more than Pvt Banks

I don`t think Public sector Banks are doing this ! These three Banks and may be one or two more !

daytradrasia seems to hv made lot of jet black money to launder through icici.

I dont know how innocent are these banks but for sure UBI is one of such kind.

all banks are involved some for increasing targets and others like PSU BANKS due to poor etho`s and non adherence to RBI guidelines. more so due to lace of involvement and interest.

It is common in all banks.