2017: A year of controversies for Axis Bank

The lender was also rumoured to be a target for a merger, given its vast network of outlets, franchise and rich talent resource

Private lender Axis Bank has been in a tight spot for over a year now for more reasons than one, some of which, the bank considers, could have been easily prevented. The Securities and Exchange Board of India’s (Sebi’s) probe into the alleged loopholes in its operations to stop information leaks was the latest.

There were instances of security breaches in some of its branches while handling cash transactions in December 2016. More than 19 employees were suspended for flouting norms. 
 

This was also the time when rumours flew thick and fast that the financial organisation was on the verge