RBI denies rumours on cancellation of bank of Axis Bank

NEW DELHI: The Reserve Bank of India today clarified that it has not initiated any action to cancel the banking licence of Axis Bank. "The RBI 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 apex bank said in a release. "The clarification comes in the background of rumours in a segment of the media that the bank was likely to lose its banking licence," it added. Earlier today, Axis Bank on said the reports alleging that regulatory action against the bank was under consideration, were false and malafide. "We would like to bring to your attention, the false and malafide news published in a regional newspaper alleging consideration of regulatory action against the bank," Axis Bank said in BSE filing. (With inputs from IANS)