New Delhi: The Reserve Bank of India (RBI) on Monday said that it has not initiated any action to cancel the banking licence of country’s third largest private bank Axis Bank in the wake of certain allegations about serious irregularities in transactions relating to deposit/ exchange of demonetised currency in a few branches of the bank.
There were some reports in a section of the media that the bank was likely to lose its banking licence. Axis Bank in said that the bank has strong systems and controls as per the norms prescribed by RBI. “We take this opportunity to assure customers/investors/members of the public that the bank has a strong code of conduct with zero tolerance to any deviations from prescribed processes. We are committed to adhering to the highest standards of governance in all aspects our business and to provide the best services to our valued customers,” said the bank.
Recently income tax had carried out surveys in two branches of Axis Bank in New Delhi. Axis bank’s Kashmere Gate branch had recently come under the lens of the I-T department for alleged irregularities in deposits post demonetisation.
