Our license was never under threat. This rumour was due to a completely misleading article that got published by a regional daily.This article was blatantly false and the daily subsequently issued a clarificatory notice. The Reserve Bank of India clarified this on the very same day. This letter can be accessed here.

Accounts of a few customers of ours were being investigated by the Enforcement Directorate and the Income Tax authorities. One of the inputs to the investigation was the suspicious transaction reporting done during the normal course of business by us. Their investigation and subsequent visits to our branches were primarily to get more facts in connection with huge deposits made by customers that were not in line with their profile.
During the course of these investigations it was found that some of our staff had not followed our internal code of conduct. We therefore deemed it fit to take swift action against these erring staff. In keeping with higher levels of transparency we have hired KPMG, a leading global forensic audit firm to do an independent check.
We would like to assure you that these have been isolated instances and the Bank has a zero tolerance policy on compliance.

Availability of cash is increasing day by day. We have already serviced over 80 lakh customers. 97% of our ATMs have been recalibrated to ensure disbursal of new notes. We are in close touch with the various regional offices of RBI for the availability of currency. We are doing our best to ensure fair treatment to all sections of our customers and we expect the situation to improve further in the next few days.
A large section of our customers have embraced digital as witnessed by the 2 times increase in debit card usage as well as 8 times increase in UPI transactions. We urge our customers to experience our full suite of digital offerings:

• Debit and Credit Cards
• Axis Internet Banking/ Axis Mobile- View balance, Get statements, Transfer funds, Make bill payments or recharges, Open FDs, Set Card limits and many more such useful features.
• Axis Pay- which allows you to make payments without having to remember account numbers and IFS codes.