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CCI imposes penalty of Rs 40 lakh on Axis Bank

18 Aug 2023 Evaluate

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.

Peers
Company Name CMP
HDFC Bank 728.10
ICICI Bank 1396.80
Axis Bank 1286.45
Kotak Mahindra Bank 446.00
Indusind Bank 874.00
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