SBI, LIC also involved in money laundering: Cobrapost
NEW DELHI: Investigative website Cobrapost on Monday released fresh videos which alleged large-scale wrongdoing by a host of financial sector entities including giants such as State Bank of India and LIC and private players such as Yes Bank, Federal Bank, Reliance Life Insurance Tata, AIG and Birla Sunlife.
Executives of other public sector players including Bank of Baroda, Punjab National Bank, Canara Bank, Indian Bank, Dena Bank, Indian Overseas Bank, Oriental Bank of Commerce and IDBI Bank are also said to have flouted norms and accepted cash, according to videos aired today by the Cobrapost.
An LIC agent is shown as willing to accept Rs 25 lakh cash.
Cobrapost said its investigations were spread over six months and included several states including Delhi, UP, Haryana, Rajasthan and Andhra Pradesh.
Banks and Insurance companies were not immediately available for comment.
An earlier expose had put three private sector lenders -- ICICI Bank, HDFC Bank and Axis Bank -- in the dock as executives were seen promising facilities in violation of rules.
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