The Competition Commission of India (CCI) has imposed a penalty amounting to Rs 40 lakh on Axis Bank under Section 43A of Competition Act, 2002. CCI imposed penalty for failure to comply with the provisions of Section 6(2) of the Competition Act, 2002 with respect to acquisition of stake in CSC eGovernance Services India.
Axis Bank is the third largest private sector bank in India. The bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses.
