MUMBAI: Leading Indian banks have suspended staff on government orders after a media sting operation revealed suspected money laundering at more than 20 financial institutions, reports said yesterday.
Indian news outlet Cobrapost made the allegations on Monday based on two undercover investigations carried out by its team, leading the finance ministry to call for immediate action against any staff involved. “The Secretary, Financial Services has also asked for a detailed report on utmost priority with the name of the employee/designation and action taken,” said the statement on the ministry’s website late on Monday.
Media reports quoting the ministry yesterday said 15 employees of various public sector banks have been suspended, while another 10 officers have been divested of their work and six have been asked to take leave.
The banks named for business irregularities include State Bank of India and state-run insurer Life Insurance Corporation (LIC).
IANS
