Two Indian lenders, Axis Bank & ICICI Bank, to cease functioning in Sri Lanka

The Indian private sector lenders Axis Bank and ICICI Bank are all set to close their operations in Sri Lanka.
The Central Bank of Sri Lanka has permitted the two banks to cease their operations in the island nation following the requests by their parent banks.
The licenses issued to them will be cancelled once the winding-up operations are complete, after which the two banks will no longer be permitted to carry on banking operations, including accepting deposits from the public.