Banks face Sebi scrutiny for disclosure lapses in forex scam
Bank of Baroda and Oriental Bank of Commerce are among those facing the scrutiny, while stock exchanges have also sought clarifications from top private sector lenders - HDFC Bank and Axis Bank.
Mumbai Last Updated: October 19, 2015 | 10:01 IST
The matter relates to alleged illegal money transfers amounting over several years to Hong Kong and possibly other foreign locations, which were passed off as payments for non-existent imports, but it came to light only this month. (Photo: Reuters)