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I-T dept raids residence of 2 Axis Bank managers for helping in conversion of black money

I-T dept raids residence of 2 Axis Bank managers for helping in conversion of black money

The raids were conducted after two people were held with Rs 3.5 crore new notes.

Axis Bank cuts cost of lending rate by 0.15-0.20% from Friday

Axis Bank cuts cost of lending rate by 0.15-0.20% from Friday

Private sector Axis Bank on Wednesday announced a cut in its marginal cost of fund-based lending rate (MCLR) by 0.15-0.20 percent effective coming Friday.

Chetan Bhagat demands good execution of demonetisation move, says 'don't use patriotism as excuse for bad operations'

Chetan Bhagat demands good execution of demonetisation move, says 'don't use patriotism as excuse for bad operations'

As banks and ATMs on continue to witness chaos, famous novelist Chetan Bhagat on Saturday opined, while demonetisation might be well-intentioned, the poor execution of an idea leads to problems for ordinary citizens.

Premium to be hiked by insurers for cyber security covers

Premium to be hiked by insurers for cyber security covers

Following the data theft that impacted 32 lakh debit cards recently, insurers see surge in demand for cyber insurance and have warned of a spike in cyber risk cover premiums.

Axis Bank stocks plunge over 8%; m-cap erodes by Rs 10,133 cr post Q2 numbers

Axis Bank stocks plunge over 8%; m-cap erodes by Rs 10,133 cr post Q2 numbers

Shares of Axis Bank slumped over 8 percent Wednesday after the company's July-September quarter net plunged by 83 percent.

Bad loans impact: Axis Bank's Q2 profit plunges 83% to Rs 319 crore

Bad loans impact: Axis Bank's Q2 profit plunges 83% to Rs 319 crore

Private sector Axis Bank Tuesday reported 83 percent plunge in net profit for the July-September quarter at Rs 319 crore mainly due to higher provisioning for bad loans.

Banks looking at 'resolution' of Rs 1.5 lakh crore worth stressed assets in coming months

Banks looking at 'resolution' of Rs 1.5 lakh crore worth stressed assets in coming months

Enthused by speedy recovery of loans worth USD 2.5 billion by three lenders including ICICI Bank within days of mega USD 13-billion Essar deal, banks are now looking at resolution of stressed assets totalling Rs 1.25-1.50 lakh crore (nearly USD 20 billion) in coming months.

Axis Bank cuts lending rate by 0.05% across tenors

Axis Bank cuts lending rate by 0.05% across tenors

Private sector Axis Bank has cut the marginal cost of fund based lending rate by 0.05 percent across all tenors, effective tomorrow (Tuesday).

Freecharge partners with Axis Bank, launches UPI payment

Freecharge partners with Axis Bank, launches UPI payment

Digital payment platform FreeCharge in partnership with Axis Bank on Monday launched Unified Payments Interface(UPI) that allows instant transactions from a smartphone using a virtual payment address(VPA).

Axis Bank cuts lending rate by 0.05%, EMIs to be lower

Axis Bank cuts lending rate by 0.05%, EMIs to be lower

Private sector lender Axis Bank Wednesday cut lending rate by 0.05 percent, a move which will lower EMIs for its new borrowers.

Axis Bank ready with UPI app, to tie-up with Freecharge

Axis Bank ready with UPI app, to tie-up with Freecharge

Country's third largest private sector lender Axis Bank said it is ready with a Unified Payments Interface (UPI) app, while it also announced a tie-up with digital payments company Freecharge for it.

 ICICI, Axis banks join Swift's global payments initiative

ICICI, Axis banks join Swift's global payments initiative

Global payments leader SWIFT on Monday said ICICI Bank and Axis Bank have become the first domestic lenders to sign up for its global payments innovation initiative, which already has over 70 other leading banks globally.

 Axis Bank Q1 profit dips 21% at Rs 1,556 crore

Axis Bank Q1 profit dips 21% at Rs 1,556 crore

Private player Axis Bank on Friday reported 21 percent decline in net profit at Rs 1,555.5 crore for the first quarter of the current fiscal on account of rise in bad loans.

Axis Bank cuts base rate by 10 bps to 9.35%

Axis Bank has slashed its minimum lending rate by 10 basis points to 9.35 percent, with effect from July 27.

CCEA allows Axis Bank to raise foreign shareholding to 74%

CCEA allows Axis Bank to raise foreign shareholding to 74%

The proposal would lead to foreign investment of about Rs 12,973 crore.

EPFO advisory body against collection of PF dues by private banks

EPFO advisory body against collection of PF dues by private banks

An advisory body of EPFO has rejected a proposal to engage private banks -- ICICI, Axis and HDFC Bank -- for collection of PF contribution from employers.

With 31% jump, HDFC's Aditya Puri top gainer in salary hike among private bank chiefs

With 31% jump, HDFC's Aditya Puri top gainer in salary hike among private bank chiefs

HDFC Bank's Aditya Puri saw the maximum jump in remuneration among private bank chiefs in 2015-16, with a 31 per cent growth at Rs 9.73 crore.

Axis Bank says 60% of its new credit cards sold in non-metros

Axis Bank says 60% of its new credit cards sold in non-metros

 The third largest private sector lender Axis Bank has said smaller centres are outpacing the top eight cities in its credit cards business, fuelled largely by the e-commerce boom.

RBI lets Axis Bank raise foreign shareholding to up to 62%

Reserve Bank has allowed Axis Bank to raise foreign shareholding to up to 62 percent, from the earlier limit of 49 percent.

SBI becomes top merchant acquiring bank in country

SBI becomes top merchant acquiring bank in country

Country's largest lender State Bank of India has become the top merchant acquiring bank in the country with 2.96 lakh installed point-of-sale (PoS) terminals as of February 2016.