Page 21 - Axis Bank

Axis Bank Q2 net profit rises 70% to Rs 5,329 crore; NII jumps 31%

Not looking to raise capital immediately for Citi deal: MD-CEO

Axis Bank's Q2 net profit jumps 70% to Rs 5,330 cr as provisions slide

The lender's net interest income rose 31% on an annual basis and 10% on a sequential basis

Top headlines: Axis Bank Q2 net jumps 70%; Bajaj Finance Q2 net surges 88%

Business Standard brings you top news of the evening

Sensex rises 96 pts after range-bound trade; Pvt banks weak, IT strong

CLOSING BELL: Meanwhile, the rupee will fall further against the US dollar over the rest of the year, a Reuters poll showed. It slipped to a record low of 83.21 today, and ended at 82.75/$

Axis Bank Q2 preview: Profit may rise over 40% YoY on low provisions

Analysts said progress of the Citi portfolio, direction of operating profit growth, and credit growth amid slowdown concerns will be tracked by investors

Axis Bank hikes MCLR by 25 bps, joining other lenders in policy action

Central bank's MPC has cumulatively increased the repo rate by 190 bps since May

Stocks to Watch: HDFC Bank, Electronics Mart, Bajaj Auto, Axis Bank, DMart

Stocks to watch today: Electronics Mart will make its debut on the bourses today. As per IPO Watch, the company could list with a healthy premium of up to 50% over issue price of Rs 59 apiece

Irdai imposes Rs 3 cr penalty on Max Life, Rs 2 cr penalty on Axis Bank

Regulator Irdai has imposed a penalty of Rs 3 crore on Max Life Insurance Company for certain violations in a case pertaining to purchase and sale of shares by the Axis Bank and group companies. In another order, the Insurance Regulatory and Development Authority of India (Irdai) has imposed a penalty of Rs 2 crore on Axis Bank, a corporate agent of the insurer. The penalty on Max Life Insurance is for violation of Irdai's direction, misrepresentation to obtain approval, and contravention of share transfer directions. In the order, Irdai said "it is evident that Axis Bank has sold its stake of 0.998 per cent shares of Max Life in March 2021 to MFSL and MSI at Rs 166 per share. Subsequently, in March-April 2021, Axis Bank and its Group entities acquired 12.002 per cent shares from MFSL at a price range of Rs 31.51-Rs 32.12 per share. This is not in compliance with the directions issued by the Authority (Irdai)..." MFSL is Max Financial Service Ltd and MSI is Mitsui Sumitomo ...

Post rate hike by RBI, SBI, BoB look stronger than private banks on charts

Public sector banks are well placed on charts, indicate positive upside in coming days, while Private Banks rigorously need to take off their respective hurdles.

Derivatives analyst Nandish Shah recommends selling Axis Bank futures

The analyst from HDFC Securities recommends selling Axis Bank October contract on rise with a stop loss at Rs 745, for a downside target of Rs 705.

Axis Bank looks to buy near 10% stake in Go Digit Life Insurance

The development underscores private lenders' growing interest in India's lucrative and largely untapped insurance sector

Active credit cards drop 2.3 million in August over new RBI norms

Spends decline 3% MoM but top Rs 1 trn for sixth consecutive month

Samsung forays into finance, launches credit card with Axis Bank and Visa

Samsung Axis Bank Credit Card will allow customers to avail of a 10 per cent cashback across all Samsung products and services throughout the year

Can financial services be made bite-sized to deepen credit penetration?

Small can be more beautiful: Large-scale sachetisation of financial services may be just around the corner

Axis Bank starts giving loans through account aggregator framework

Axis Bank on Thursday said it has started disbursing loans through the Account Aggregator (AA) framework, which enables easy and instant access to financial information of customers in a secure manner. The country's third largest private sector lender has already gone live on multiple Account Aggregators like Anumati-AA, OneMoney-AA and FinViu-AA, covering retail and SME customers. An early investor in the AA framework, Axis Bank's loan disbursals have increased more than 30 per cent month-on-month since going live on the data sharing platform. The bank offers personal loans, credit cards, auto loans and small business loans through the account aggregator system, Axis Bank said in a release. The lender said one can get instant loans in a completely digital and paperless manner. AA is a powerful proposition which is scaling up rapidly allowing easy and instant access to financial information of customers in a safe and secure manner. For customers, the AA framework is a big enabler

Axis Bank looking at more partnerships with Big Tech: Axis Bank MD

Amitabh Chaudhry says the private lender spends Rs 900 crore every buying priority sector lending certificates to meet its targets

Govt norms ensure no one makes money in payments space: Axis Bank head

Private sector lender Axis Bank on Wednesday said government mandates on the payments space ensure that no one can make money in the segment. The bank's chief executive and managing director Amitabh Chaudhry feared that smaller entities will not be able to survive amid such diktats. The comments from Axis Bank, which also runs the payments company Freecharge, come amid a debate on whether merchant discount rate (MDR) should be levied on the very popular UPI platform. The government, which wants to popularise digital payments, has been insisting that no charges should be levied. "What the government is doing is that they're taking out the entire P&L (profit and loss) opportunity for us. So if you look at the payments space, no one can make any money in the country at all. You have to use payments as a platform to make money somewhere else," Chaudhry said at the Global Fintech Fest here. The worry is that more and more of such demands will emerge, which will take away revenue and ...

Flipkart Big Billion Days sale 2022: List of smartphones to be on discount

Flipkart has created a webpage of the upcoming sale and has posted updates regarding the much anticipated deals and offers on products across categories

GMR Warora Energy signs pact with lenders to recast Rs 3,000 cr loans

Loans would be repaid progressively over 15 years, giving the company additional time of about seven years to extinguish the liability

Stocks to Watch: NDTV, Dr.Reddy's, IndiGo, SBI, Zee, Consumer Firms

Stocks to Watch Today: NDTV open offer to start from October 17. IndiGo's co-promoter Rakesh Gangwal likely to sell up to 2.8 per cent stake in open market.