Axis Bank Ltd.

Axis Bank has reportedly held back an amount of around Rs 80 crore even as it completes the acquisition of Snapdeal’s payments arm Freecharge in an all-cash deal. This step has been taken due to pending regulatory approvals from RBI. The Reserve Bank of India (RBI) has given the matter a hearing which will happen in about a week.

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.