RBI denies rumors of cancelling Axis Bank's licence

Axis Bank is the country's third-biggest private sector lender by assets.

According to Reuters, the Reserve Bank of India on Monday denied a media report that authorities were preparing to cancel the licence of Axis Bank Ltd over irregularities in transactions relating to the exchange of high-value bank notes.

"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 RBI said in a statement.

Read the full story here.

Also Read

Cambodia enables QR payments from foreign e-wallets through Alipay+

Hong Kong to rename ‘virtual banks’ to ‘digital banks’

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit