In the wake of money laundering charge, the Reserve Bank of India has begun a comprehensive scrutiny of head offices and branches of three private sector banks - ICICI Bank, HDFC Bank and Axis Bank.

The final reports on all these banks will be completed by March 31, the apex bank said. “Further course of action as necessary will be initiated thereafter,’’ it added.

The RBI has also begun a thematic study in respect of banks that are active in selling gold coins / wealth management products to examine if there are systemic issues. It is also intended to plug deficiencies and legal loop-holes, if any.

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