Cobrapost, the news website that released a slew of videos that showed officials of three private banks -- HDFC, ICICI and Axis Bank -- offering to launder black money to a reporter posing as a representative of a fictional politician, is releasing another batch of similar videos in response to the banks, the Reserve Bank of India (RBI) and the union finance ministry's claims that the bank officials'activities were an aberration.

The RBI and the private banks involved had dismissed the actions of their employees exposed in the sting saying that these were individual cases and didn't reflect the banks' policies. However, they had ordered action against the employees caught on camera. The country's apex financial institution, the RBI, had rushed to the defence of the banks, saying that the money-laundering was no "scam"| being perpetrated and that there was hardly any cause to "downgrade" the banking system of the country. "There is no scam (that) has happened... as no transaction has taken place Our system to prevent money laundering is perfect."

Cobrapost, in a response to the banks and the government's claims, has relased a fresh set of videos in which it claims bank employees from branches across the country have admitted to having laundered money for real-life politicians. The news organisation's newest communiqué to other media houses contains a rebuttal of the RBI's and the government's stand on the matter and offers an analysis of the issue.

Read the analysis and specifics of the new exposé in the attachment below.