Axis Bank is the country's third-biggest private sector lender by assets.
According to Reuters, the Reserve Bank of India on Monday denied a media report that authorities were preparing to cancel the licence of Axis Bank Ltd over irregularities in transactions relating to the exchange of high-value bank notes.
"The clarification comes in the background of rumours in a segment of the media that the bank was likely to lose its banking licence," the RBI said in a statement.
Read the full story here.
Do you know more about this story? Contact us anonymously through this link.