Axis Bank clarifies on SREI exposure!

Last updated: 17 Dec, 2020 | 01:27 pm

Axis Bank clarifies on SREI exposure!

Axis Bank’s exposure to SREI Group

  • A report by ScamsBreaking has alleged that Axis Bank has provided loans to SREI Infrastructure and Finance to the tune of ₹44,000 crore without any due diligence and verification of end use of the loan amount. 
  • Refuting these allegations, Axis Bank has clarified that it has a total of just ₹1,211 crore to the beleaguered group. Further, the bank said that it has complied with its underwriting practices and approval processes for this exposure.

The bank has said that it is evaluating all remedies available against the author/publisher of the captioned report.

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