A regional publication had published a news article, alleging that the Government is considering cancellation of the banking license of the Bank.
He also added that, “We take this opportunity to assure our investors/customers/members of the public that the Bank has a zero tolerance policy towards any violations from the set model code of conduct and is committed to adhering to the highest standards of corporate governance in all aspects of its business. Our endeavor is to provide best possible service to all our customers, at all times."
RBI has also issued a clarification Press Release denying the rumor and has 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.