By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
BeFirsTrankBeFirsTrank
  • Home
  • Car Reviews
  • Auto Shows
  • Bike Reviews
  • Future
  • New Car
  • Used Car
  • Contact Us !
Reading: RBI Denies Taking Action Against Cancelling Axis Bank’s Licence
Share
Aa
Aa
BeFirsTrankBeFirsTrank
  • Home
  • Car Reviews
  • Auto Shows
  • Bike Reviews
  • Future
  • New Car
  • Used Car
  • Contact Us !
Search
  • Home
  • Car Reviews
  • Auto Shows
  • Bike Reviews
  • Future
  • New Car
  • Used Car
  • Contact Us !
Have an existing account? Sign In
Follow US
© 2023 BeFirsTrank News Network
News

RBI Denies Taking Action Against Cancelling Axis Bank’s Licence

srijita
Last updated: 2016/12/16 at 4:17 PM
By srijita 2 Min Read
Share
SHARE

Axis Bank said it suspended 19 employees over breach in implementing exchange of high-value bank notes.

Amid rumours that India’s third biggest private sector lender- Axis Bank could lose its licence over alleged money laundering activities involving the suspended employees, the Reserve Bank of India clarified that it has not initiated any action to cancel the banking licence of Axis Bank.

“The Reserve Bank of India today clarified that it has not initiated any action to cancel the banking licence of Axis Bank in the wake of certain allegations about some serious irregularities in transactions relating to deposit/exchange of Specified Bank Notes in a few branches of the bank. The clarification comes in the background of rumours in a segment of the media that the bank was likely to lose its banking licence,” the central bank said in a statement.

Earlier in the day, Axis Bank slammed a regional newspaper report stating authorities were preparing to revoke the bank’s licence as “false and malafide”, saying it had strong systems and controls in place as per central bank rules.

Axis, India’s third-biggest private sector bank, said last week it had suspended some 19 employees over alleged breaches at one of its branches in implementing a government-ordered exchange of high-value bank notes.

The statement by Axis was in response to a report on Saturday in local Hindi daily that suggested the bank could lose its licence over alleged money laundering activities involving the suspended employees.

“We firmly believe that said news is intended to spread panic amongst the general public, demoralise the staff and damage the reputation of the bank,” the lender said in a stock exchange filing.

[“source-ndtv”]

You Might Also Like

How Google’s AI can help transform health professions education

Certified AC Technicians in Ocala: Your Local Cooling Experts

Beyond the Map: What Modern Vehicle Tracking Can Do for Your Business

What Should My Video Game Room Have?

From Traditional Payments to Innovative Solutions: How Car Insurance Is Adapting to Modern Needs

TAGGED: Action, Against, Axis, Banks', Cancelling, Denies, Licence:, RBI, Taking
srijita December 16, 2016
Share
Previous Article 3-Day Bank Holidays Add To People’s Cash Woes
Next Article SBI Cards Sees Business Opportunity In Low Income Category

Calendar

September 2025
MTWTFSS
1234567
891011121314
15161718192021
22232425262728
2930 
« Aug    

Latest Trending News

  • How Google’s AI can help transform health professions education September 3, 2025
  • Your Ebike Battery is Draining Too Quickly? Six Reasons August 29, 2025
  • Test of Turbo Petrol-Powered Automobiles: Actual City and Highway Fuel August 26, 2025
  • Buying a Used VW Car in Albuquerque? Here’s What to Know August 21, 2025
  • What to Do If the Trunk of Your Nissan Won’t Open August 20, 2025
  • Fatherhood, marriage, and Longevity in the August 14, 2025
  • Style, Luxury, and Innovation in a New Car Coming in 2024 August 13, 2025

© 2023 Befirstrank News Network. All Rights Reserved.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?