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PM Modi's PSU bank spends beat 45 years investments

Wednesday, July 17, 2019, 9:17 PM

PM Modi's PSU bank spends beat 45 years investments

The bank recapitalisation bill from FY18 to FY20 stands around Rs.2.69 crore, double the amount invested in the first 45 years (estimated to be around Rs.1.5 lakh crore) since the country's banks were nationalised, reports The Times of India. With Rs.3.8 lakh crore injected between FY11 and FY20, the last decade has seen the government consistently infuse capital into public sector banks (PSBs).

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Banks bad loans down at Rs 9.34 lakh crore at FY19-end: Nirmala Sitharaman

Wednesday, July 17, 2019, 8:42 AM

Banks bad loans down at Rs 9.34 lakh crore at FY19-end: Nirmala Sitharaman

Total bad loans of commercial banks declined by Rs.1.02-lakh-crore to Rs.9.34-lakh-crore in the 2018-19 fiscal on the back of steps taken by the government, Finance Minister Nirmala Sitharaman said. Sitharaman said the SCBs effected record recovery of Rs.4,01,424 crore over the last four financial years, including record recovery of Rs.1,56,746-crore during 2018-19 ( provisional data for 2018-19, as reported by RBI on July-9, 2019).

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Axis Bank slips over 2% as lender considers $1.3 billion share sale

Thursday, June 27, 2019, 3:33 PM

Axis Bank slips over 2% as lender considers $1.3 billion share sale

Shares of Axis Bank fell over 2 percent from the day's high of Rs 806.65 in Thursday's session on a Bloomberg report, suggesting that the lender was considering raising at least $1.3 billion through a share sale to institutional investors. Earlier in the day, the stock opened at Rs 789.35 on BSE against its previous closing of Rs 788.95.

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Robbers loot Rs 58 lakh from cash van in Hyderabad

Wednesday, May 8, 2019, 11:15 AM

Robbers loot Rs 58 lakh from cash van in Hyderabad

A gang of robbers looted Rs.58 lakh, meant to be deposited in an Axis Bank ATM, from a cash van in Hyderabad. The robbers diverted the attention of security guards and bank staff by saying some money had fallen on the other side of the vehicle, before fleeing with the cash. The police are examining nearby CCTV footage.

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WhatsApp pay needs five months to go local & live

Friday, April 12, 2019, 6:44 PM

WhatsApp pay needs five months to go local & live

Instant messaging service WhatsApp may take-up to five-months to fully localise its payments data in India and go live, said two-bankers in know of matter, after a-test-launch of its payments service among a-limited-number of users faced stiff opposition from competitors last-year. The company does not share details of exact-number of users on its platform, but sources said it may be in range of 7L.

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Mallya loan fraud case: Air Deccan founder GR Gopinath under lens

Tuesday, February 12, 2019, 5:59 PM

Mallya loan fraud case: Air Deccan founder GR Gopinath under lens

GR Gopinath, founder of Deccan Aviation Ltd (DAL), is under the scanner of investigative agencies for his alleged role in the debt default by fugitive economic offender Vijay Mallya-founded Kingfisher Airlines, said people with knowledge of the matter. They are examining Gopinath's part in signing the "instruments" through which the "diversion" of loans from State Bank of India was allegedly caused, they said.

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Axis Bank, Syndicate Bank, UCO Bank Penalised By RBI

Wednesday, February 6, 2019, 11:48 AM

Axis Bank, Syndicate Bank, UCO Bank Penalised By RBI

The RBI said it has imposed a total penalty of Rs.2.2-crore on private-sector lender Axis Bank in two-separate cases. A penalty of Rs.2-crore has also been imposed on UCO Bank and Rs.1-crore on Syndicate Bank for violation of norms. The RBI said penalty of Rs.2-crore has been imposed each on Axis Bank and UCO Bank for non-compliance of norms related to payment through cheques.

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09 January 2019, Wednesday

Tips To Improve Your Credit Score For A Home Loan

Credit score is an important factor which helps you get a home loan sanctioned. If you want to get a home loan sanctioned, you must have a good credit ...

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Axis Bank MD and CEO Shikha Sharma retires

Tuesday, January 1, 2019, 7:10 AM

Axis Bank MD and CEO Shikha Sharma retires

Axis Bank said its Managing Director and CEO Shikha Sharma has retired, effective December-31, 2018. "We wish to inform you that Shikha Sharma, Managing Director and CEO of Axis Bank Limited, has retired from services of bank and has accordingly ceased to be Managing Director and CEO of the bank, with effect from close of business hours on 31st-December-2018," it said in regulatory filing.

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HSBC upgrades Indian stocks to neutral, citing reasonable valuations

Tuesday, November 27, 2018, 8:35 PM

HSBC upgrades Indian stocks to neutral, citing reasonable valuations

HSBC has raised its rating on Indian equities to "neutral" from "underweight" in a regional context on Tuesday, citing recent underperformance and more reasonable valuations. "Since end-August, India underperformed because of issues in local banks, currency weakness and oil price volatility," HSBC analysts said in a note. Despite recent underperformance, these risks remain for Indian equity market.

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