Mumbai, Mar 21 (KNN) The Reserve Bank of India may further tighten the KYC (Know Your Customer) norms for banks in the wake of allegations that some private sector banks were involved in money laundering.  

"Our people have gone for scrutiny of accounts and if we find that there is needs to further tighten our KYC guidelines we will do," said Deputy Governor, RBI, KC Chakrabarty here.

The statement comes in the wake of allegations by an online portal of money laundering by three private banks.
RBI and the Finance Ministry had ordered inquiries in to the allegations against three banks- HDFC, ICICI and Axis. (KNN)