Taking note of a sting operation that alleged money laundering in leading private banks, insurance regulator IRDA on Friday said it has sought explanations from CEOs of HDFC life, ICICI Pru and Max life.
Officials of HDFC Bank, ICICI Bank and Axis Bank, the sting operation alleged, had offered to launder unaccounted money through insurance schemes.
“The Authority has called for relevant data for initiating appropriate action,” IRDA said, adding that it has taken up the matter which the CEOs of three insurers.