Page 14 - Axis Bank

Axis Bank launches two products with RBI Innovation Hub to extend lending

Axis Bank will offer Kisan Credit Card (KCC) and unsecured micro, small and medium enterprises (MSME) loans to customers, powered by the PTPFC platform

Stocks to Watch today, Aug 10: Rate sensitives, IRCTC, Bata, Force Motors

Stocks to watch on August 10, 2023: Shares of rate sensitive sectors, such as auto, banks and real-estate will be in focus on Thursday as RBI announces its policy decision.

Axis Bank to raise stake in Max Life through Rs 161 crore investment

The proposed infusion by Axis Bank in Max Life will help it to support its future growth ambitions, Max Financial Services said in a statement

Axis Bank to infuse Rs 1,612 cr in Max Life via preferential allotment

Axis entities stake to increase to 19.02%; Analjit Singh continues to be as chairman

Credit cards in force hit new high in June; spends decline over May

HDFC Bank maintained its leadership position with 18.35 million cards, followed by SBI Card at 17.34 million, ICICI Bank at 14.8 million, and Axis Bank at 12.5 million

With above 33% attrition, pvt banks find it tough to retain junior staff

Industry experts say that the resignations could be largely attributed to young employees taking a second look at their life decisions and career choices

Stocks to Watch: Tech M, Axis Bank, Dr Reddy's, RVNL, M&M, RBL Bank, AMCs

Stocks to watch on July 27, 2023: The govt is going to sell up to a 3.4 per cent stake in Rail Vikas Nigam with an option to additionally sell 1.96 per cent stake via an OFS

Axis Bank Q1 net profit jumps 41% to Rs 5,797 crore, asset quality improves

Amitabh Chaudhry, managing director and chief executive officer, Axis Bank, mentioned that there is a visible improvement in the quality of the deposit franchise

Axis Bank Q1FY24 results: Net profit up 40.5% YoY, gross NPAs down to 1.96%

Axis Bank's balance sheet grew 13% YOY and stood at Rs 1.3 trillion as on June 30

Sensex snaps 3-day losing streak, ends 351 pts up; L&T, RIL, ITC shine

CLOSING BELL ON JULY 26, 2023: The NSE Nifty rallied 98 points to 19,778; IT and bank stocks gained ground, while M&M and Bajaj twins slipped on Wednesday.

Flipkart offers upto Rs 5 lakh in lending to customers with Axis tie-up

Flipkart's introduction of customer lending services is aimed at boosting sales by providing an additional financing option to customers

Axis Bank to grow up to 6% faster than industry in medium to long term: CEO

Axis Bank on Monday said it will continue to grow 4-6 per cent faster than the industry in the medium to long term, helped by focus on rural and semi-urban markets, improving digital infrastructure and Citibank India retail business. Fiscal year 2023 was a breakout year for digital banking platform Axis 2.0 and the early leadership in building proprietary in-house digital native capabilities with full stack engineering, product and a design team of about 400 people have started yielding results, according to Axis Bank Managing Director and CEO Amitabh Chaudhry. "Given the powerful integrated platform we are building, we will continue to grow 400 to 600 bps faster than the industry in the medium to long term. "The significant strides we made during the year on our customer obsession journey, digital capabilities, Bharat Banking and successful acquisition of Citibank India Consumer Business further give us the confidence in sustaining this performance," he said in a message to ...

Credit card dues up 30% in Apr; cross Rs 2 trillion mark for the first time

The Reserve Bank of India (RBI) has expressed its concern about the growing unsecured bank credit

Stocks to Watch: IndusInd Bank, Ipca Lab, Infosys, ICICI Securities, RVNL

Stocks to Watch on June 26, 2023: The Hinduja Group is in talks to invest Rs 10,000 crore to hike its stake in IndusInd Bank, as per media reports

RBI imposes fine on Jammu and Kashmir Bank, Bank of Maharashtra, Axis Bank

The Reserve Bank on Friday said it has imposed a penalty of Rs 2.5 crore on Jammu and Kashmir Bank for non-compliance with certain directions, including one related to 'time-bound implementation and strengthening of SWIFT-related operational controls'. A penalty of Rs 1.45 crore has also been imposed on Bank of Maharashtra for non-compliance with certain directions issued by RBI on Loans and Advances Statutory and Other Restrictions' and Advisory on Man in the Middle (MiTM) Attacks in ATMs'. In another statement, the RBI said a penalty of Rs 30 lakh has been imposed on Axis Bank. The lender, it said had levied penal charges in certain accounts for late payment of credit card dues though the customers had paid the dues by the due date, through third-party platforms. The RBI, however, said penalities are based on deficiencies in regulatory compliance and not intended to pronounce upon the validity of any transaction or agreement entered into by the entities with their customers.

Indian banks looking for a bigger stake in digital India via own QR codes

Lenders are leveraging partnerships with fintechs and technology service providers to manage their apps and QR codes

Axis Bank appoints former RBI deputy guv Vishwanathan as non-exec chairman

Vishwanathan joined RBI in 1981 and retired in March 2020 as a Deputy Governor where he handled portfolios including regulation

Bain Capital sells 0.7% stake in Axis Bank via open market transactions

US-based private equity major Bain Capital on Thursday offloaded a 0.7 per cent stake in private sector lender Axis Bank for Rs 2,178 crore through open market transactions. Bain Capital through its affiliates -- BC Asia Investments III, BC Asia Investments VII and Integral Investments South Asia IV -- sold the shares of Axis Bank in three tranches. Bajaj Allianz Life Insurance Company, ICICI Prudential Mutual Fund, Goldman Sachs (Singapore), Morgan Stanley Asia Singapore, Societe Generale, the Sultanate of Oman Ministry of Defence Pension Fund, Bay Pond Partners LP, and among others were the buyers of the shares. BC Asia Investments III, BC Asia Investments VII and Integral Investments South Asia IV offloaded a total of 2,25,00,001 shares, amounting to a 0.7 per cent stake in Axis Bank, as per the block deal data available with the National Stock Exchange (NSE). The shares were disposed of at an average price of Rs 968 apiece, taking the combined transaction value to Rs 2,178 ...

Credit cards in force touch new high in April even as rollovers decline

Increasing reach and rewards boost credit card spends

Axis Bank trades firm after 22.5 mn shares change hands on NSE

Around 22.5 million shares representing 0.74 per cent of total equity of Axis Bank changed hands on the NSE in pre-opening deals.