Sucheta Dalal :Honest Bankers in Cobrapost May Soften RBI Rap
Sucheta Dalal

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Honest Bankers in Cobrapost May Soften RBI Rap  

June 25, 2013

Will the honest bankers caught in Cobrapost sting operation help soften the RBI blow on erring banks?

Sucheta Dalal

A third set of revelations by the Cobrapost sting operation on how bankers help to launder ill-gotten cash now covers HSBC India and Standard Chartered Bank as well. What has, however, made bold headlines is its revelation that a set of honest, upright bankers had flatly refused to bend the rules and launder unaccounted money. Cobrapost showcased five such bankers: Balasubramaniam of Axis Bank (Hyderabad), SK Garg of Bank of Baroda, Anurag Prakash of Canara Bank, Ashish Agarwal and Akash U of HSBC India. Anurag Prakash even points out that the “RBI is very strict about these things.” However, for Cobrapost, there may be a twist to the heart-warming tale.

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-- Sucheta Dalal