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Customers use ATM machines at an ICICI Bank branch in Mumbai January 30, 2013. REUTERS/Vivek Prakash

India\'s ICICI Bank suspends 18 employees in money laundering probe
India's ICICI Bank suspends 18 employees in money laundering probe
Posted : Saturday, 16 March 2013 02:17AM

MUMBAI (Reuters) - ICICI Bank Ltd <ICBK.NS>, India's No. 2 lender, has suspended 18 employees as it investigates an alleged money laundering case, a bank spokeswoman said on Saturday.

The move comes after a report by an independent journalist who said on Thursday he had video footage of some branch employees of ICICI Bank, HDFC Bank Ltd <HDBK.NS> and Axis Bank Ltd <AXBK.NS> suggesting to an undercover reporter methods of laundering money.

India's finance ministry and central bank are also investigating charges of money laundering practices at the top private sector lenders.

HDFC Bank Ltd and Axis Bank Ltd said on Thursday they were investigating the allegations.

(Reporting by Swati Pandey; Writing by Kaustubh Kulkarni)

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