INSUBCONTINENT EXCLUSIVE:
stock exchange filing, the bank said that it has initiated proceedings with the regulators in UK to close down operations of Axis Bank UK
Limited, a subsidiary of Axis Bank and aims to wind up all operations by April 2021
on the Indian banking market.The filing also stated that the decision will not impact the operations or the financial position of the bank
as Axis Bank UK Limited is not its material subsidiary.Meanwhile, the bank's board also approved a proposal to raise Rs 15,000 crore
shareholders approval and did not clarify how the funds will be utilised.The bank's stock took a beating on Thursday as the shares fell
