Karnataka   

Nothing illegal about transport of cash: Axis Bank

BANGALORE: Axis Bank President (South Zone) C.P. Rangarajan said on Wednesday that the bank had followed all the norms while transporting the Rs. 10 crore cash, which was seized by the police in Bellary recently, from its branch in Kurnool in Andhra Pradesh to its Bellary branch.

Three days ago, the police intercepted two multi-utility vehicles (MUV) carry the said cash, on the outskirts of Bellary. They seized the cash after the occupants of the vehicles reportedly failed to provide necessary documents.

After launching the bank’s new co-branded credit card here,

Mr. Rangarajan told presspersons that the bank had provided all the documents sought by the police. “We regularly transport cash from Kurnool to Bellary and there is nothing illegal about it,” he said.

Referring to reports that the armed security guards escorting the two vehicles were carrying unlicensed weapons, Mr. Rangarajan said the bank had clarified the matter with the police.

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