Maharashtra government closes account in Axis Bank

The Maharashtra government on Wednesday closed one of its accounts in Axis Bank and shifted it to the state-run SBI. The National Cyclone Risk Mitigation Projects bank account was in Axis Bank and it is now being shifted to SBI, said a GR (government resolution) issued here.

The decision by the Shiv Sena-led government is being seen as a snub to BJP leader and former chief minister Devendra Fadnavis, who faced allegations of favouring the leading private bank where his wife works at a senior position.