Axis Bank Licence Cancellation rumours for allegations of serious irregularities in deposit/exchange of Specified Bank Notes denied by RBI
| 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
Bank was liable to pay compensation to borrower as it did not verify the progress of construction before loan disbursals…
No timeline mentioned in PMLA to forward the arrest order and the material in possession to the Adjudicating Authority. It…
Whether the release of seized assets is mandatory upon completion of 120 days –High Court refers the case to a…
EPFO Extends date of filing of new ECR for the wage month September to 31st October 2026 Taking into account…
Earlier acceptance of investment is a relevant evidence in evaluating subsequent allegation that investments were fictitious from inception – High…
A bald statement recorded during survey would not in itself be a foundation for any addition - ITAT In a…