An employee of Axis Bank lost his life and sixteen others were injured in a fire accident at a hotel in Navi Mumbai on Friday.

Axis Bank in a statement said "we are deeply anguished and offer our heartfelt condolences to the family of our deceased staff member. We have taken necessary steps to ensure that all the affected employees are being provided the best of medical care and support. We are in touch with their close relatives and are providing all necessary assistance in this regard."

Reports said that the total number of persons injured was 30.