The regulator had conducted an examination of the debt capital market operations of Axis Bank during the August 2016 to August 2019 period. It was observed that Axis Bank (noticee) had acted as the merchant banker in respect of 22 public issuances of debt of various companies during the given period.source https://economictimes.indiatimes.com/industry/banking/finance/banking/sebi-penalises-axis-bank-for-violating-merchant-bankers-regulations/articleshow/90426980.cms
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