Money Mantra: Issue of money laundering among private sector banks

Online magazine Cobrapost, in its recent operation, claimed to have caught on tape evidence that some of India's largest private sector banks help in money laundering. Experts, S C Chawla, chartered accountant, partner with S Chawla & Company, and ex-director of SBI; J P Sharma, former director of Syndicate Bank, and U S Bhargava, ex-chief general manager of Punjab National Bank; discuss how severe the matter is given various norms by the regulators and measures to prevent money laundering adapted in the banking sector.