Two Indian banks to cease operations in Sri Lanka

The licenses issued to Axis Bank and ICICI Bank will be cancelled once the winding-up operations are complete.

The Central Bank of Sri Lanka has permitted Indian private sector lenders Axis Bank and ICICI Bank to close their operations in the island nation, according to online news portal ColomboPage.

Axis Bank's logo is seen next to ATM machines at its corporate headquarters in Mumbai. (REUTERS Photo)

This follows requests by their parent banks.The licenses issued to them will be cancelled once the winding-up operations are complete.

ColomboPage said the two banks are no longer permitted to carry on banking operations, including accepting deposits from the public.