<h1>RBI Investigates ICICI, HDFC, and Axis Banks for Alleged KYC and AML Violations; Reports Expected by March 31, 2013.</h1> The Reserve Bank of India has launched comprehensive investigations into three private sector banks for alleged violations of Know Your Customer (KYC) and Anti-Money Laundering (AML) guidelines. The banks under scrutiny are ICICI Bank, HDFC Bank, and Axis Bank. This action follows allegations by an online media firm, Cobrapost.com, which accused these banks of money laundering and regulatory breaches. The RBI is also conducting a thematic study on banks involved in selling gold coins and wealth management products to identify systemic issues. The investigation reports are expected by March 31, 2013, with subsequent actions to follow.