Cobrapost: 15 employees of PSU banks suspended

India Infoline News Service | Mumbai |

Over 15 employees of various public sector banks have been suspended including one from insurance sector

After the online portal Cobrapost alleged instances of money laundering by some state owned banks and LIC (Life Insurance Corporation of India), the Finance Ministry on Tuesday said action has been taken against 15 employees, including suspension, for violation of various regulations.

“So far, 15 officers/employees of various public sector banks have been suspended including one from insurance sector. Beside it, ten officers of PSBs have been divested of their work and six have been asked to proceed on leave,” Finance Ministry said in a release.

The action against the employees has been taken for violation of banking norms and regulations, it added. 

“...certain PSBs have already taken action and in some cases, the work is still in progress. More action taken reports are expected in near future,” the release said without providing details of employees or the banks. 

On Monday, Financial Services Secretary Rajiv Takru asked chairmen-cum-managing directors (CMDs) of various PSU banks and LIC to take immediate action in the matter.

Cobrapost alleged that around 23 private and PSU banks are involved in money laundering. Among the banks accused in money laundering included SBI, IDBI, OBC, Dena Bank, IOB, Yes Bank, Dhanlaxmi Bank, PNB, ICICI Bank, Axis Bank, Canara and BoB.

How to launder black money officially?


  • Save upto Rs.2.67 lakh with Pradhan Mantri Awas Yojana ...Know more
  • Now Save Rs.3150 on your Demat Account ...Click here
  • Now get IIFL Personal Loan in just 8* hours...APPLY NOW!
  • Get the most detailed result analysis on the web - Real Fast!
  • Actionable & Award-Winning Research on 500 Listed Indian Companies.