Axis Bank suspends 19 staff after complaints of irregularities post note ban

December 06, 2016 20:34

Axis Bank today said it has suspended its 19 officials allegedly involved in illegal activity post demonetisation.

Following arrest of two of its managers in Delhi by Enforcement Directorate in connection with money laundering probe, Axis Bank has hired KPMG to do forensic audit and strengthen mechanism to put check on such activities.

The bank has suspended 19 officials including 6 of Kashmere Gate branch of Delhi itself, Axis Bank executive director Rajesh Dahiya said.

"Post demonetisation, bank is working round the clock to enhance its processes so that rules are adhered to. As many as 125 senior-level officials are monitoring activities across the country," he said.

The bank is going to ruthless if it comes across any malpractice by anyone, he said.

Yesterday, the Enforcement Directorate arrested two Axis Bank managers here and seized 3 kg gold bars in connection with its money laundering probe in a racket of illegally converting old notes in connivance with banking authorities.

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