The sting was carried out over one year with vast majority of the shoots in the last two months.
Of 11 MPs,two belong to Congress,three to BJP,two to AIADMK,three to JD(U) and one to BSP.
RBI has maintained that no transaction has happened while the sting also does not point to money laundering.
The RBI probing allegations of money laundering by several banks and insurance firms has found that these entities not only failed to adhere to Know-Your-Customer (KYC) norms but also permitted customers to divide cash deposits into small tranches below the benchmark level to avoid reporting or detection of these transactions and accepted cash without a PAN card or with a fake PAN card.
RBI detected ‘aberrations’,a month after private banks were accused of money laundering.
Country’s top private banks have been named by an online portal for indulging in money laundering.
RBI today sought to downplay the money-laundering allegations against three private banks.
HDFC Bank,ICICI Bank and Axis Bank have been accused of indulging in money laundering.
Axis Bank today said it has asked 16 concerned officials to report to administrative offices.
ICICI Bank suspends 18 employees,pending inquiry into money laundering charges.
The government has said action will be taken if any person is found guilty in the alleged money laundering scam involving three private sector banks which was exposed by a website.
Cobrapost sting operation hit BSE Sensex,forcing index to fall on heavy selling in private banks.
A day after the three top banks in India were accused of harbouring black money,their shares tanked.
Goldman Sachs says if proven,scam could slow banking sector growth in India.
The 30-share index,rose further by 98.95 points,or 0.51 per cent,to 19,669.69 points.
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