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WhatsApp leaks: Axis Bank gives its officials clean chit

Thursday, May 3, 2018, 11:45 PM

WhatsApp leaks: Axis Bank gives its officials clean chit

Axis Bank Ltd has ruled out any leakage of information from the bank in a report submitted to the markets regulator on the alleged leaks of price-sensitive information on WhatsApp groups ahead of its June quarter results last year, two people with direct knowledge of the matter said. The bank has submitted its report and relevant findings in the stipulated time.

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Axis Bank's bad loans burden to mount in next two quarters

Sunday, April 29, 2018, 12:00 AM

Axis Bank's bad loans burden to mount in next two quarters

Axis Bank India's third-biggest private sector lender by assets is staring at another Rs.9,000 crore non-performing assets (NPA's) which may dent the bank's financials over the next two quarters, reports the Economic Times citing banking experts aware of the matter. On Thursday, Axis Bank posted a surprise net loss of Rs.2,188.74 crore for the January-March quarter (Q4) after a surge in toxic loans.

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Nirav Modi hiding in US, flew out of Hong Kong in February

Friday, April 27, 2018, 9:45 AM

Nirav Modi hiding in US, flew out of Hong Kong in February

Hours before Prime Minister Narendra Modi left for Beijing, came reports that Nirav Modi is no longer holed up in Hong Kong. He had in fact left Hong-Kong for the UK on February-14. The question arises is that if the fugitive businessman had left Chinese, why did the Indian Ministry of External Affairs move to the Chinese government for his arrest as late as March-end.

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Axis Bank posts Q4 loss of Rs 2,189 crore on provisions for bad loans

Thursday, April 26, 2018, 7:14 PM

Axis Bank posts Q4 loss of Rs 2,189 crore on provisions for bad loans

Axis Bank Ltd, India's third-biggest private sector lender by assets, reported a surprise fourth-quarter loss, plagued by a rise in provisions for bad-loans. This is the first time the bank has posted quarterly loss since its listing in 1998. Private sector Axis Bank on Thursday reported a net loss of Rs 21.88-billion for the quarter ended March 2018 due to higher-provisioning for bad loans.

Article

 

24 April 2018, Tuesday

Bank Could Soon Charge You For Everything

Banks are in a lot of trouble. Non-performing assets are rising. Businessmen Nirav Modi and Vijay Mallya have defrauded banks of crores of rupees and ...

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SBI, Axis among 5 banks under ED scanner for helping Nirav Modi

Saturday, April 14, 2018, 3:54 PM

SBI, Axis among 5 banks under ED scanner for helping Nirav Modi

Five Indian lenders including SBI and Axis Bank are under Enforcement Directorate scanner for helping Nirav Modi to roundtrip over Rs 6,000 crore loans extended to his companies by PNB, according to India Today. The agency is also probing 47 companies of Nirav allegedly involved in round tripping. Of these companies, 10 are registered in Belgium and 13 in the UAE.

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Axis Bank shares jump 4% after CEO Shikha Sharma cuts short tenure

Tuesday, April 10, 2018, 11:15 AM

Axis Bank shares jump 4% after CEO Shikha Sharma cuts short tenure

Shares of Axis Bank Ltd, Indias third largest private lender, on Tuesday gained over 3% after its managing director and chief executive officer Shikha Sharma decided to leave at the end of the year. At 9.55am, Axis Bank shares were trading at Rs536.80 on BSE, up 3.65% from its previous closing. In intraday trade, the stock touched a high of Rs540, up 4.26%.

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