Date : Dec 12, 2016
RBI denies Rumours on 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.
Alpana Killawala
Principal Adviser
Press Release: 2016-2017/1487
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We Indians will feel cheated if no action is taken against Axis Bank for messing up demonitisation.