There is a sensational news about the biggest private sector bank Axis as the national media reported that its license might be canceled due to intervention in money laundering. The news broke out in a Hindi newspaper that the union government is mulling license cancellation as it found several irregularities by the Axis bank after big note ban.
This news gained importance as nearly 19 employees of the bank were shown the door due to irregular transactions. This news resulted in 3% loss of the bank's share. How, Axis bank categorically condemned the news. In a press release it said that it is functioning in accordance to the laws set by the banking law and these rumors are the hand work of some people who want to tarnish the bank's image. It reiterated that the bank has an infrastructure in place where there is no chance of irregularities in banking transactions.
Jio seems to have reached its goal after entering into the market with a sensational announcement of free net and calls for 3 days. The number of people who took Jio sims reached 1.6 crore while the customer base rose to 2.4 crores. Most of the people took these sims because of the free offer for 3 days. But, unfortunately many complain that they are not able to do the calls. Each call has to be tried several times, even then there is no guarantee of connecting.
With the number of connections increasing, the net speed also dropped considerably and TRAI itself ranked Jio in the bottom of the top 5 4G service providers. Though the company says that they are working on the complaints, nothing has been done so far. There are around 12 lac users in Telanagana while this number is more than 15 lacs in Gujarat. The reality that the increasing number of customers will lower the speed of net is haunting the customers now.