ICICI Bank, Case 19: A. Vyas, Branch Manager; A. Singhania, Key Relationship

Manager; K.S Bindra, Accounts Manager, Jaipur, Rajasthan

Mar 13, 2013

The advice here is: Get a DD from some cooperative bank or route the cash through an account

and there will be no problem Posing as a family friend of a noted politician, the Cobrapost

reporter is directed to A. Singhania who is working as Relationship Manager with this branch

of...

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ICICI Bank, Case 18: Ganpathi R., Branch Manager, Hyderabad, Andhra

Pradesh

Mar 13, 2013

“NRI account mein poora amount dump kar dena (Dump the whole amount in the NRI account)”

Our reporter tells Ganpathi R. that the money is in cash and belongs to a politician who wants to

invest it discreetly. Ganpathi tells his visitor to open an NRI account with the bank: “NRI...

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ICICI Bank, Case 17: S.Walia, Branch Manager, Chandigarh

Mar 13, 2013

“Aapko tension lene ki zaroorat nahin hai (You need not take any tension)” Walia politely brings

the Cobrapost reporter to his cabin downstairs where he advises him to opt for an insurance plan,

GSIP, with guaranteed returns: “Saara cheque se aayega…saara tax-free hoga (All the return will

come by cheque and...

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ICICI Bank, Case 16: J. Dwivedi, Investment Manager; N. Ghosh, Officer,

Faridabad, Haryana

Mar 13, 2013

“Kuch bhi comfortable hai … sab kuch comfortable hai (Anything is comfortable… everything

is comfortable).” The moment the Cobrapost journalist announces that he is there to invest a

large amount of money, he is taken to Investment Manager J. Dwivedi at this Faridabad branch

of ICICI Bank. Within a few seconds,...

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ICICI Bank, Case 15: A. Dubey, Assistant Manager, West Delhi

Mar 13, 2013

Showing black money as the proceeds from the sale of property is Dubey’s preferred method for

making it legitimate: “Profile hum log dikha denge ki ye hai property holder (We will show in

the profile that he is a property holder)” Posing as a frontman for a politician, the Cobrapost

journalist...

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ICICI Bank, Case 14: A. Pathak, ICICI Lombard, Mumbai, Maharashtra

Mar 13, 2013

Advising our reporter to go to HDFC Bank, this ICICI insurance advisor says the way to make

black money white is to get DDs made from a cooperative bank and then invest Oddly enough, at

this ICICI Lombard branch somewhere in Mumbai (the general insurance arm of ICICI Bank),

bank official...

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ICICI Bank, Case 13: R. Ranjan, Associate Key Relationship Manager; A.

Kumar, Deputy Branch Manager, South Delhi

Mar 13, 2013

“Mantriji’s name will not come to light ever.” – Ranjan In this branch of ICICI Bank

somewhere in South Delhi, the Cobrapost journalist is taken to meet R. Ranjan who looks after

investments.After exchanging pleasantries the reporter, posing as a relative of a politician, gets

down to brass tacks. A known...

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ICICI Bank, Case 12: L. M. Rao, Branch Manager; Ganesh, Investment

Manager, Hyderabad, Andhra Pradesh

Mar 13, 2013

“Cash kab dega sir humko?…Kal subah aake hum collect kar sakte hain (When will you give us

the cash, Sir … We can come and collect it the next morning)” – L. M. Rao At this branch of

ICICI Bank in Hyderabad, the Cobrapost reporter, posing as a relative of a...

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ICICI Bank, Case 11: R.Bhardwaj, Branch Manager; H. Chandra, Branch Sales

Manager, Faridabad, Haryana

Mar 13, 2013

“Black ko white karne ka yehi sabse best tarika hai (This is the best way to turn black money

into white)” Here, H. Chandra and R. Bhardwaj are welcoming and resourceful. On hearing the

story about the politician, Bhardwaj suggests: Open an account and deposit the cash. There is no

problem...

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ICICI Bank, Case 10: A.S. Kumarakrishnan, Branch Sales Manager, Chennai,

Tamil Nadu

Mar 13, 2013

“Ismein cash daalna… uske baad sab kuchh wahan se main lena hai (Put in the cash in it after

which I would take all from there)” The Cobrapost reporter goes through the same ritual at this

branch somewhere in Chennai. After meeting various bank officials, he is Branch Sales Manager

A.S....

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ICICI Bank, Case 9: R. Sharma, Branch Manager, Faridabad, Haryana

Mar 13, 2013

“We can discuss and figure something out” It was the inauguration day at this branch of ICICI

Bank somewhere in Faridabad. Amid the festive mood our reporter first meets Mohit and tells

him why he is there. Sometime later Mohit introduces him to Ratan, who works as investment

advisor with the...

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ICICI Bank, Case 8: K. R. Rao, Key Relationship Manager, ICICI Prudential,

Hyderabad, Andhra Pradesh

Mar 13, 2013

For this banker, it helps when a client speaks openly about black money. Says K.R. Rao,

“Whenever you are hiding something dono ko hi mushkil ho jayega (it will be difficult for both)”

Branch Relationship Manager K.R.Rao in Hyderabad understands the needs of high-value clients

and is very co-operative. When told...

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ICICI Bank, Case 7: Deepanshu, Branch Manager; H. Maheshwari, Assitant

Manager, Aligarh, Uttar Pradesh

Mar 13, 2013

“We will make some jugaad for you” At this ICICI Bank branch in Aligarh, the Cobrapost

reporter meets a busy H. Maheshwari who takes him to the Branch Manager, Deepanshu. Since

Deepanshu joined the branch quite recently, it is Maheshwari who does most of the talking.

What is the source of...

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ICICI Bank, Case 6: J. Suneja, Cluster Head; Neeraj, Relationship

Banking/Privilege Banking, Central Delhi

Mar 13, 2013

The complicity permeates all levels, with senior managers as willing as junior staff to turn black

into white because it is a common practice for them: “Sir, sachi baat ye hai aap bol rahe hain.

Ninenty-nine per cent log karte hain wo bolte nahin hain (Sir, the truth is that...

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ICICI Bank, Case 5: S. A. Ahuja, Senior Financial Service Manager; G. Raikar,

Manager, Bangalore, Karnataka

Mar 13, 2013

Here, the suggested route for laundering black money is to show the fictitious politician as an

NRI Posing as a businessman who wants to move to Bangalore, the Cobrapost journalist walks

into this branch of ICICI Bank somewhere in Bangalore where the receptionist directs him to

Senior Financial Service Manager S....

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ICICI Bank, Case 4: N. Kumar, Business Manager; Aastha, Deputy Branch

Manager, Noida, Uttar Pradesh

Mar 13, 2013

A stream of reassurances from Kumar and Aastha on how to turn black money into white

The Cobrapost journalist strolls into this Noida branch of ICICI Bank in Uttar Pradesh and

recites his request to Business Manager N. Kumar: a well-known minister wants to invest a

‘handsome amount’ of black...

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ICICI Bank, Case 3: Gayathri, Branch Manager; C. Sridhar, Sr. Customer

Service Associate (Operations), Bangalore, Karnataka

Mar 13, 2013

Gayathri and Sridhar understand instantly that black money has to be turned into white

because they deal with so many such customers The guard at this branch of ICICI Bank

somewhere in Bangalore directs the Cobrapost reporter to Branch Manager Gayathri. The

Cobrapost reporter gives her the same spiel. Initially,...

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ICICI Bank, Case 2: R. Gupta, Branch Manager, ICICI Prudential, Agra

Mar 13, 2013

Why it is not good to invest with banks: “Saara paisa aap doh number mein nahin laga

payenge (You will not be able to invest all in No. 2)” ICICI Prudential is a sister arm of ICICI

Bank. Here, once the pleasantries are over, the reporter tells Branch Manager R. Gupta...

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ICICI Bank, Case 1: V. Srivastava, Privilege Banker, Central Delhi

Mar 13, 2013

“Kya ghumana hai kaise ghumana hai bata doonga main (What has to be manipulated and

how I will tell you all)” “Returns main saare white mein kara deta hun (I will make all the

returns white)” Walking into this Central Delhi branch of ICICI Bank in the national capital,...

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ICICI Bank:True to its Motto, Khayal Aapka, ICICI Welcomes Tainted Money

to Make It Clean

Mar 13, 2013

A countrywide undercover investigation by Cobrapost finds ICICI Bank committing gross

violations of the Income Tax Act, FEMA, RBI regulations and the anti-Money Laundering Act.

These activities render the vast assets it manages, the deposits it maintains, the profits it makes,

and the spectacular growth it has registered, suspect. It was...

- See more at: http://www.cobrapost.com/index.php/topics?cid=28#sthash.U2reLAea.dpuf