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Axis Bank News
Axis Bank's Q3 net profit drops by 73%; bad loans rise
Thu, Jan 19, 2017
As on 31st December 2016, the Bank’s Gross NPA was Rs 20,467 crores against Rs 16,379 crores as on 30th September 2016.
Axis bank cuts lending rates by upto 0.70%
Sat, Jan 14, 2017
For loans of overnight tenure and one month, the new MCLR will be 7.90 per cent, and three-month tenure will attract a revised rate of 8.05 per cent, while those for six months, one year will be 8.15 percent and 8.25 per cent respectively.
India Inc hails N Chandrasekaran elevation as Tata Sons' chairman
Thu, Jan 12, 2017
As Tata Sons named TCS boss N Chandrasekaran as its new chairman ending months of speculation, industry leaders, and Twitterati gave their thumbs up, expressing optimism on the future of the country's largest conglomerate.
Govt's e-payments platform BHIM App witnesses over 10 million downloads in 10 days
Mon, Jan 09, 2017
The government's recently launched e-payments platform BHIM App has witnessed over 10 million downloads in 10 days. Prime Minister Narendra Modi had launched BHIM App during his address to 'DigiDhan Mela' in New Delhi on December 30 last year, according to earlier PTI report.
Court seeks police report on Axis Bank's branch manager plea to surrender
Sat, Jan 07, 2017
32-year-old Vineet Gupta, suspended branch manager in Axis Bank's Kashmere Gate branch here, pleaded the court to issue his production warrant for his appearance before it from jail, saying that he wanted to surrender in the cheating case lodged by Delhi Police to show his "bonafide".
Embarrassed, upset over conduct of handful of employees, says Axis Bank's CEO Shikha Sharma
Sun, Dec 18, 2016
"Embarrassed and upset" over the conduct of a handful of employees bringing the organisation into disrepute, Axis Bank MD and CEO Shikha Sharma said on Sunday the bank has hired KPMG to conduct a forensic audit for enhanced due diligence and building more safeguards.
Axis bank-Noida: ED files money laundering case for forging customer's identity
Sat, Dec 17, 2016
The Enforcement Directorate (ED) has registered a money laundering case in the alleged forging of a customer's identity to conduct huge illegal transactions in an Axis Bank branch in Noida for conversion of black funds into white post demonetisation.
Income Tax raids Axis Bank branch, seizes 20 fake accounts
Thu, Dec 15, 2016
IT officials also recovered over Rs 100 crore from 44 suspect accounts in an Axis Bank branch in Chandni Chowk area in Delhi.
Axis Bank calls banking licence report "false"
Mon, Dec 12, 2016
On Friday, the Income Tax department had unearthed 44 fake accounts during a raid at an Axis Bank branch.
IT raid unearths 44 fake accounts at Axis Bank branch in Delhi
Fri, Dec 09, 2016
It has warned of high penalties if people are found depositing larger amounts without informing the IT department.
Demonetisation: I-T department seizes Rs 130 crore in cash & jewellery since Nov 8
Wed, Dec 07, 2016
The Income Tax Department (I-T) has carried out investigations into over 400 cases post-demonetisation seizing as much as Rs 130 crore in cash and jewellery, an official statement said on Tuesday.
Bank stocks pare losses as RBI increase MSS limit
Fri, Dec 02, 2016
On June 22, the RBI had said that under the MSS for the current fiscal was fixed at Rs 30,000 crore.
Cash flood: ICICI, HDFC Bank cut FD rates by 0.25%
Thu, Nov 17, 2016
According to estimates, banks have collected cash deposit of over Rs 4 lakh crore following the demonetisation decision announced on November 8 by Prime Minister Narendra Modi.
Demonetisation: Is this the right time to open a fixed deposit account?
Wed, Nov 16, 2016
Experts expect investments in FDs to rise as banks offer better-than-savings interest rates for a limited time.
Axis Bank sees reduction in lending rates post demonetisation
Sun, Nov 13, 2016
Domestic ratings agency Icra has said that it expects a 0.03-0.10 per cent dip in the cost of deposits in the near to medium term because of the surge. This reduction can be passed on to borrowers through a cut in the marginal cost of funding based lending rate.
Demonetisation: Axis says debit card usage jumps 35%
Fri, Nov 11, 2016
Following the withdrawal of Rs 500 and Rs 1,000 banknotes, private sector lender Axis Bank on Thursday said it has witnessed a 35% jump in usage of debit cards at merchant establishments.
Debit Card Fraud: ICICI Bank denies breach within its network
Tue, Nov 08, 2016
Assuring its customer, ICICI Bank added," Nevertheless the bank has taken steps to preserve the interests of its customers and continues to pursue the matter for enabling effective remediation through authorized channels.
BSE seeks clarification from banks on cyber security reports
Tue, Nov 08, 2016
This came after the recent financial data security breach which allegedly compromised about 32 lakh accounts.
SUUTI sells 1.63% stake in L&T for Rs 2100 crore
Fri, Nov 04, 2016
Neeraj Kumar Gupta, secretary for Department of Investment and Public Asset Management, in New Delhi told reporters that the government had offered 1.5% of its stake in the company to investors but got offers for 1.63% stake.
Sensex plunges 201 points as oil fears make a comeback
Wed, Oct 26, 2016
Asia showed distinct weakness as there were fresh fears after reports emerged that Russia will not take part in a planned oil output cut by major producers. Overnight losses in the US on lower-than-expected earnings added to the anxiety.