Equity benchmark indices gave up early gains during volatile trade on Tuesday and closed in the red. Market experts said traders booked profit across counters to realign their portfolios.
After two years of waiting, Facebook-owned WhatsApp payment service received approval from the National Payments Corporation of India (NPCI) in November to go live on Unified Payment Interface (UPI) with over 160 supported banks.
Earlier in October, the Reserve Bank of India (RBI) did not approve Axis Bank's proposal to raise its stake up to 29 per cent but scaled it down to an aggregate of 19.02 per cent with the subsidiaries of private sector lenders.
As of November 13, Axis Bank is offering an interest rate of 2.50% on FDs to its customers with maturity between 7 days and 29 days, 3% for FDs maturing between 30 days and less than 3 months, 3.5% for FDs between 3 months and less than 6 months.
‘Dil Se Open Celebrations’, a festive campaign by India’s third largest private lender Axis Bank has come as a boon for its debit and credit cardholders who can avail offers on more than 1,00,000 products from well-known brands and get up to 10X EDGE reward points on purchase of gift cards from popular brands.
Last week, Axis Bank had set a floor price of Rs 442.19 per equity share for its proposed Rs 15,000-crore qualified institutional placement (QIP).
Shares of Axis Bank on Wednesday jumped over 7 per cent after the lender's asset quality showed improvement in the June 2020 quarter.
Traders booked profit and equity benchmark indices ended marginally lower on July 10 following a decline in global peers amid surging coronavirus cases.
The third largest private sector lender Axis Bank on Monday said its executive director Pralay Mondal has resigned due to "personal compulsions" within one year of joining the bank.
Shares of Axis Bank on Wednesday zoomed over 14 per cent amid reports of fund infusion by private equity firm Carlyle.
The losses in the last quarter were reported despite a 19 per cent increase in Axis Bank's net income, which grew to Rs 6,808 crore
Private sector lender Axis Bank on Thursday urged its customers to avoid visiting branches in the wake of the coronavirus outbreak and instead, use internet banking, mobile app and chatbot for banking services.
The Bombay High Court in Mumbai on Thursday sought BJP leader Devendra Fadnavis's response to a petition questioning the transfer of salary accounts of the police department to Axis Bank, a private lender.
Axis Bank on Thursday said its board has approved appointment of Puneet Sharma as Chief Financial Officer (CFO). His appointment will be effective from March 6, the private sector lender said in a regulatory filing. Sharma replaces Jairam Sridharan, who has resigned as the group executive and CFO of the bank, with effect from the close of business hours on March 5, it said.
Axis Bank on Thursday said it has entered into a confidentiality and exclusivity arrangement to explore the possibility of entering into a long-term strategic partnership with Max Life.
Reliance Power on Tuesday said one of its lenders Axis Bank has initiated insolvency process against its subsidiary Vidarbha Industries Power Ltd for a claim of Rs 553.28 crore.
Markets regulator Sebi has rejected Axis Bank's plea to allow the lender to invoke the pledge on shares in the Karvy Stock Broking Ltd (KSBL) matter. The order comes after the Securities Appellate Tribunal (SAT) on December 20 had asked Sebi to pass an order by January 15, 2020 in the case. The tribunal had modified its earlier directive passed on December 17, wherein it had asked the markets watchdog to pass an order within 15 days in the case.
The Axis Bank finds itself in the middle of a controversy with its employee, Amruta Fadnavis, wife of former Maharashtra Chief Minister Devendra Fadnavis, facing fire from the BJP's erstwhile ally, Shiv Sena, over conflict of interest.
After rising 284 points in early session, the 30-share index was trading 244.04 points or 0.60 per cent higher at 40,825.75. Similarly, the broader Nifty was trading 66.20 points or 0.55 per cent up at 12,038.
Rival Kotak Mahindra Bank has also announced free tags till December 1 with a similar limited period offer, an official statement said, while an HDFC Bank official said the lender has waived off the processing charges of Rs 100 till December 31.
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