Axis Bank is India’s third-largest private sector bank, offering a comprehensive range of financial services across multiple customer segments. Established in 1993 as UTI Bank and rebranded in 2007, the bank has grown into a significant financial institution with a robust national and international presence. The bank’s financial performance is marked by impressive growth. As of March 31, 2024, it has a balance sheet size of Rs. 14,77,209 crores. Over the past five years, the bank has demonstrated steady growth with approximately 13% increase in total assets and 15% growth in advances and deposits. Axis Bank has an extensive domestic network comprising over 5,100 branches and more than 15,000 ATMs and cash recyclers. Its presence spans across 2,033 cities and towns in India. Internationally, the bank maintains offices in strategic locations including Singapore, Dubai, Gift City, and has a subsidiary in London.
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After a 5-year decline, state-run banks see a surge in employee numbers, while private banks experience a 0.9% workforce reduction
The Indian banking sector has seen a shift in employee counts, with public sector banks adding 13,179 employees to reach 9,70,437 in FY25, while private banks saw a 0.86% drop to 8,38,150 employees. State-run banks, which had earlier focused on consolidation and improving balance sheets, have now started to expand their headcount. The largest public sector bank, State Bank of India (SBI), added 3,930 employees to reach 2,36,226 in FY25. SBI plans to hire 18,000 more employees in FY26, including 13,500 clerical posts and 3,000 probationary officers.
The government’s consolidation efforts, which began in 2017 with the merger of five associate banks with SBI, have continued with the merger of 12 banks into four larger entities in 2020. There are talks of a third wave of mergers to reduce the total number of banks to four core anchors. Recently, SBI hired over 1,000 probationary officers and plans to continue hiring.
Among other public sector banks, Punjab National Bank added 397 employees to reach 1,02,746, while Central Bank of India saw a marginal uptick in employee count to 33,081. However, Bank of Baroda and Canara Bank saw a decline in employee count. In the private sector, ICICI Bank saw a significant decline of 7.13% in employee count to 1,30,957, while HDFC Bank added 994 employees to reach 2,14,521. Axis Bank added 121 employees to reach 1,04,453.
The overall headcount in the banking system rose to 18,08,587 from 17,87,566 in FY24. Foreign banks’ employee count stood at 28,041, while small finance banks had 1,77,797 employees, with AU Bank being the largest employer with 50,946. The payments banks had 6,958 employees. The banking sector’s employee count is expected to continue to evolve with the ongoing consolidation and technological advancements.
Top FD Options for Seniors: Earn Up to 8% Interest Annually with These High-Yielding Fixed Deposits – View Complete List on Goodreturns
Best Fixed Deposits for Senior Citizens: Earn Up to 8% Annual Return
As a senior citizen, it’s essential to invest in a secure and stable financial instrument that provides a regular income stream. Fixed Deposits (FDs) are an excellent option, offering a fixed return on investment with minimal risk. Here’s a list of the best FDs for senior citizens, providing up to 8% annual return.
Top Banks Offering High-Return FDs for Senior Citizens
Several banks in India offer attractive interest rates on FDs for senior citizens. Some of the top banks include:
- Yes Bank: Offers 7.50% interest rate for 3-4 year tenure and 7.25% for 2-3 year tenure.
- IndusInd Bank: Provides 7.40% interest rate for 3-4 year tenure and 7.20% for 2-3 year tenure.
- Kotak Mahindra Bank: Offers 7.30% interest rate for 3-4 year tenure and 7.10% for 2-3 year tenure.
- HDFC Bank: Provides 7.25% interest rate for 3-4 year tenure and 7.00% for 2-3 year tenure.
- ICICI Bank: Offers 7.20% interest rate for 3-4 year tenure and 6.95% for 2-3 year tenure.
Other Banks Offering Attractive FD Rates
In addition to the above-mentioned banks, other financial institutions also offer competitive interest rates on FDs for senior citizens. These include:
- Bajaj Finance: Offers 8.00% interest rate for 3-4 year tenure.
- Mahindra Finance: Provides 7.80% interest rate for 3-4 year tenure.
- SBI: Offers 7.10% interest rate for 3-4 year tenure.
- Axis Bank: Provides 7.05% interest rate for 3-4 year tenure.
Key Benefits of FDs for Senior Citizens
Fixed Deposits offer several benefits for senior citizens, including:
- Guaranteed Returns: FDs provide a fixed return on investment, ensuring a regular income stream.
- Low Risk: FDs are a low-risk investment option, making them ideal for senior citizens.
- Flexibility: FDs offer flexible tenure options, allowing senior citizens to choose the investment period that suits their needs.
- Tax Benefits: Interest earned on FDs is taxable, but senior citizens can claim a deduction of up to Rs. 50,000 under Section 80TTB.
In conclusion, senior citizens can earn up to 8% annual return on their investments by opting for the best FDs offered by various banks and financial institutions. It’s essential to compare the interest rates and tenure options before making an investment decision.
Among the prominent banks are SBI, HDFC Bank, Axis Bank, ICICI Bank, Kotak Mahindra, and Bank of Baroda.
Several major Indian banks have announced changes to their fixed deposit (FD) interest rates, affecting customers who invest in these instruments. The changes vary by bank and tenure, but overall, they offer returns ranging from 5.9% to 6.95% for different terms.
State Bank of India (SBI), the country’s largest lender, has been offering 6.25% returns on FDs with a tenure of one year to less than two years, and 6.40% for two to less than three years. Senior citizens receive higher returns, with 6.75% on one-year to two-year FDs and 6.90% on two-year to less than three-year FDs. These changes took effect on December 15.
HDFC Bank, another major player, introduced new interest rates on December 17. The bank offers 6.25% for one-year tenures, 6.35% for 15 months to less than 18 months, and 6.45% for two years. Senior citizens are eligible for 6.75% on one-year tenures and 6.95% on two-year tenures.
Axis Bank also revised its FD interest rates, effective December 26. The bank now offers 6.25% for one-year tenures and 6.45% for two years. Senior citizens can earn 6.75% on one-year FDs and 6.95% on two-year FDs.
Canara Bank has also revised its interest rates, with a new rate of 5.9% for FDs with a maturity period of one year to 15 months. Senior citizens, however, can earn 6.40% for the same period.
These changes reflect the ongoing evolution of the Indian banking sector, with lenders adjusting their interest rates to stay competitive and respond to market conditions. Customers can take advantage of these revised rates to maximize their returns on fixed deposits, depending on their individual investment goals and preferences. It is essential for investors to review the updated interest rates and terms offered by each bank to make informed decisions about their investments.
Tamilnad Mercantile Bank Names Visvanathan Srinivasan as New Additional Director, Reports scanx.trade
Tamilnad Mercantile Bank (TMB) has announced the appointment of Visvanathan Srinivasan as an Additional Director on its Board, effective from March 25, 2023. This development is part of the bank’s efforts to strengthen its leadership and governance structure.
Visvanathan Srinivasan is a seasoned banker with over three decades of experience in the financial services industry. He has held various leadership positions in prominent banks, including State Bank of India (SBI) and Axis Bank. His expertise spans across areas such as corporate banking, risk management, and compliance.
During his tenure at SBI, Srinivasan played a key role in shaping the bank’s corporate banking strategy and was instrumental in driving business growth. He also served as the Chief Risk Officer at Axis Bank, where he was responsible for overseeing the bank’s risk management framework.
The appointment of Srinivasan as Additional Director is expected to bring significant value to TMB’s Board. His extensive experience and expertise in banking will enable the bank to leverage his insights and guidance to drive business growth, improve risk management, and enhance overall governance.
TMB’s Chairman, K Venkatramanan, welcomed Srinivasan’s appointment, stating that his experience and expertise would be invaluable to the bank. The bank’s Managing Director and CEO, S Krishnan, also expressed his enthusiasm about Srinivasan’s joining, saying that his presence would strengthen the bank’s leadership team.
The appointment of Srinivasan is also seen as a positive move by TMB to enhance its governance and leadership structure. The bank has been focusing on strengthening its board composition, with a mix of experienced professionals and independent directors.
With Srinivasan’s appointment, TMB’s Board now comprises 11 members, including 6 independent directors. The bank’s Board is chaired by K Venkatramanan, and the Managing Director and CEO is S Krishnan.
TMB is a private sector bank with a strong presence in Tamil Nadu and other parts of India. The bank has been expanding its operations and has a network of over 500 branches and 900 ATMs. With Srinivasan’s appointment, the bank is expected to further strengthen its position in the banking industry and drive growth in the coming years. Overall, the appointment of Visvanathan Srinivasan as Additional Director is a significant development for TMB, and his expertise and experience are expected to contribute to the bank’s growth and success.
Ganesh Sankaran takes the helm as Head of Wholesale Banking Group at IndusInd Bank
IndusInd Bank has appointed Ganesh Sankaran as the Head of its Wholesale Banking Group. Sankaran is a seasoned banking professional with over three decades of experience in various areas, including wholesale, retail credit, and SME. He will be responsible for developing the bank’s strategy and business in key areas such as corporate banking, institutional banking, gems and jewelry, SME and mid-market group, new age economy, real estate, corporate agri-business, supply chain finance, transaction banking, and project and structured finance.
Throughout his career, Sankaran has held senior leadership positions at leading private sector banks, where he has played a crucial role in building businesses, driving large-scale transformations, and delivering consistent performance. His expertise spans relationship management, credit and risk, product expertise, and board-level exposure. Prior to joining IndusInd Bank, Sankaran worked at Axis Bank, Federal Bank, and HDFC Bank, where he gained valuable experience and built a strong reputation in the industry.
In addition to his banking experience, Sankaran has also served on the boards of several companies, including Axis Capital, Equirus Capital, and Fedbank Financial Services. He also held the position of Executive Director and Board Member at Federal Bank. With his extensive experience and expertise, Sankaran is well-equipped to lead IndusInd Bank’s Wholesale Banking Group and drive growth and expansion in the bank’s business.
The appointment of Sankaran is expected to bring new insights and perspectives to IndusInd Bank’s Wholesale Banking Group, and his experience in building and transforming businesses will be invaluable in driving the bank’s strategy and growth. As the bank continues to expand its operations and services, Sankaran’s leadership and expertise will be crucial in navigating the complex and competitive banking landscape. With his strong track record and expertise, Sankaran is poised to make a significant impact at IndusInd Bank and contribute to the bank’s continued success and growth.
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Recent Updates
OneCard halts new credit card issuances amid RBI’s request for clarification from its partner banks
OneCard, a popular credit card issuer, has stopped issuing new credit cards due to regulatory issues with the Reserve Bank of India (RBI). The RBI has sought clarifications from partner banks that have collaborated with OneCard, regarding their credit card business model. As a result, OneCard has temporarily halted the issuance of new credit cards until the matter is resolved.
OneCard, which is operated by FPL Technologies, is a mobile-based credit card platform that allows users to apply for and manage their credit cards through a mobile app. The company has gained popularity in recent years due to its ease of use and innovative features. However, the RBI’s move has raised concerns about the company’s business model and its compliance with regulatory requirements.
The RBI has asked partner banks, including State Bank of India, ICICI Bank, and Axis Bank, to provide clarifications on their arrangement with OneCard. The regulator is seeking to understand how OneCard’s credit card business operates and whether it complies with existing regulations. The partner banks have been given a deadline to respond to the RBI’s queries, and until then, OneCard will not be issuing new credit cards.
The development has caused uncertainty among existing OneCard customers, who are concerned about the impact on their credit card services. However, OneCard has assured its customers that the move will not affect their existing credit card services, and they can continue to use their cards as usual.
The RBI’s move is seen as a regulatory crackdown on new-age credit card issuers, which have been growing rapidly in recent years. The regulator is seeking to ensure that these companies comply with existing regulations and do not pose a risk to the financial system. The development highlights the challenges faced by fintech companies in India, which often operate in a gray area between traditional banking regulations and innovative business models.
In conclusion, OneCard’s decision to stop issuing new credit cards is a temporary measure until the regulatory issues are resolved. The company is working with its partner banks to address the RBI’s concerns and ensure that its business model complies with existing regulations. The development highlights the importance of regulatory compliance for fintech companies in India and the need for clear guidelines on innovative business models.
Fixed Deposit rates soar up to 8.05% for general public with 5-year investment term; Check out the complete list of banks
Fixed Deposit (FD) Rates Up to 8.05% for General Citizens Investing for Five Years
In a move to encourage savings and investments, several banks in the country have increased their fixed deposit (FD) interest rates. For general citizens investing for a period of five years, the interest rates can go up to 8.05%. This is a significant increase, making FDs an attractive option for those looking to grow their savings.
List of Banks Offering High FD Rates
Here is a list of banks offering high FD rates for a five-year investment period:
- DCB Bank: 8.05% interest rate for a five-year FD
- Yes Bank: 7.75% interest rate for a five-year FD
- IndusInd Bank: 7.75% interest rate for a five-year FD
- Kotak Mahindra Bank: 7.70% interest rate for a five-year FD
- Axis Bank: 7.60% interest rate for a five-year FD
- HDFC Bank: 7.55% interest rate for a five-year FD
- ICICI Bank: 7.50% interest rate for a five-year FD
- State Bank of India (SBI): 7.40% interest rate for a five-year FD
- Bank of Baroda: 7.35% interest rate for a five-year FD
- Punjab National Bank (PNB): 7.30% interest rate for a five-year FD
Benefits of Investing in FDs
Investing in FDs offers several benefits, including:
- Guaranteed returns: FDs offer a fixed interest rate, ensuring that your investment grows at a guaranteed rate.
- Low risk: FDs are a low-risk investment option, making them suitable for conservative investors.
- Liquidity: FDs can be easily liquidated, allowing you to access your funds when needed.
- Tax benefits: Interest earned on FDs is taxable, but you can claim a tax deduction on the interest income.
How to Invest in FDs
To invest in an FD, you can visit the website of the bank or visit a branch in person. You can also invest through mobile banking or online banking platforms. The minimum deposit amount and investment period may vary depending on the bank and the type of FD.
Overall, investing in FDs can be a great way to grow your savings and earn a fixed income. With interest rates up to 8.05% for a five-year investment period, now is a good time to consider investing in an FD.
Banks are placing early wagers, indicating a corporate credit resurgence may be imminent.
The Indian banking sector is witnessing a resurgence in corporate credit growth, driven primarily by working capital financing and project-linked funding. According to senior bankers, the uptick is modest, but it marks a turn for lenders such as HDFC Bank and Axis Bank, which had earlier slowed their wholesale book due to competitive loan pricing. HDFC Bank’s corporate and other wholesale loan book grew 6.4% year on year and 4.7% on quarter, while Axis Bank’s corporate loan book expanded 20% on year and 11% on quarter.
The pickup in corporate credit comes as yields on government securities have risen, making bank loans more attractive for corporates, especially low-rated ones. The weighted average lending rate on fresh rupee loans of scheduled commercial banks was at 8.75% in August, down from 8.81% a month earlier, making it cheaper for corporates to borrow. Bankers agree that while capex-led demand remains modest, working capital financing and project-linked funding are driving incremental growth.
Public sector banks, such as Punjab National Bank and Bank of India, have also joined the lending rebound, buoyed by a healthy project pipeline and improved corporate balance sheets. Punjab National Bank has total loan sanctions worth ₹1.78 trillion, which are awaiting phased disbursements, while Bank of India reported double-digit growth of nearly 12% on year in its corporate book in Q2.
However, pricing remains a challenge, with corporates seeking loans at unrealistically low rates. Indian Overseas Bank chief executive Ajay Kumar Srivastava said that the issue is not demand, but pricing, as corporates seek loans at around 6%, which is not viable for the bank given its own funding costs. Despite this, the bank has a ₹15,000 crore sanctioned pipeline and expects 12-13% on year growth in its corporate loan book this year, led by manufacturing and PLI-linked sectors.
Overall, the sector-wide uptick in corporate credit growth is expected to strengthen in the coming quarters as sanctioned loans move to disbursement stage and investment activity gradually picks up. Ratings agency Icra has not revised its credit growth estimates for FY26 yet, but expects the cuts in goods and services tax rates to support credit expansion for banks and NBFCs in the near term.
Axis Securities predicts gold prices will surge to Rs 1.5 lakh per 10 grams by Diwali in 2026, according to a report by BW Businessworld.
Axis Securities has made a bullish prediction for gold prices, forecasting that they will reach Rs 1.5 lakh per 10 grams by Diwali 2026. This projection is based on various factors, including the current economic trends, geopolitical tensions, and the historical performance of gold as a safe-haven asset.
According to Axis Securities, gold has been a consistent performer in the past, and its value tends to appreciate during times of economic uncertainty. The current global economic scenario, marked by rising inflation, interest rate hikes, and geopolitical tensions, is expected to drive investors towards safe-haven assets like gold.
The brokerage firm also notes that the Indian government’s efforts to promote gold as an investment option, such as the introduction of gold exchange-traded funds (ETFs) and sovereign gold bonds, are likely to boost demand for the precious metal. Additionally, the increasing acceptance of gold as a hedge against inflation and currency fluctuations is expected to drive up prices.
Axis Securities also points out that the festival season in India, which includes Diwali, tends to see a surge in gold demand due to the traditional practice of buying gold during this period. This, combined with the expected increase in demand from investors, is likely to drive up prices.
The forecast of Rs 1.5 lakh per 10 grams by Diwali 2026 represents a significant increase from the current prices. As of now, gold prices in India are hovering around Rs 60,000-70,000 per 10 grams. The predicted increase would be a gain of over 100% in the next two years, making gold a lucrative investment option for those who are willing to hold on to it for the long term.
However, it’s essential to note that gold prices are subject to various market and economic factors and can be volatile. Investors should exercise caution and do their own research before making any investment decisions. Axis Securities’ forecast is based on its analysis of current trends and market conditions, but actual prices may vary depending on various factors, including global economic trends, central bank policies, and geopolitical events.
Axis Bank Partners with Hitachi Payment Services to Strengthen Digital Presence and Broaden Branch Network
Axis Bank, one of India’s largest private sector banks, has partnered with Hitachi Payment Services to launch “Express Banking”, the country’s first-ever Digital Banking Point. This innovative solution aims to revolutionize branch banking by offering a full range of banking services in a compact, digital format. The Digital Banking Point is designed to enhance accessibility and convenience, allowing customers to access banking services 24/7.
The Express Banking solution offers a bundled, customizable package in a compact digital lobby format, enabling rapid deployment and operation in both self-service and assisted modes. Customers can use the Digital Banking Point to open new bank accounts, avail instant cards, book fixed deposits, apply for loans, and pay utility bills, among other services. The solution includes features such as a card printer, cheque depositor, passbook printer, and NFC capabilities, enabling faster processing and advanced, modular, scalable, and future-ready capabilities.
The Digital Banking Point combines the trust and safety of traditional banking with the speed and efficiency of digital innovation, featuring the latest security features and a contemporary, intuitive user interface. The compact and flexible setup occupies minimal space and can be rapidly deployed across diverse locations, including city centers, rural areas, and captive locations such as community hubs, corporate parks, hospitals, and universities.
According to Mr. Reynold D’Souza, President & Head – Branch Banking, North & East & TASC Business, Axis Bank, the Digital Banking Point represents a new philosophy in express banking, ensuring a smart, consistent, and reliable banking experience for customers across India. Mr. Sumil Vikamsey, Managing Director & Chief Executive Officer – Cash Business, Hitachi Payment Services, added that the Digital Banking Point will play a pivotal role in expanding access and digitizing services across India, setting the stage for a broader transition to accessible and convenient banking experiences.
The launch of the Digital Banking Point reflects Axis Bank’s commitment to redefining banking, elevating customer experience, and serving the evolving needs of diverse segments through future-ready solutions. The partnership between Axis Bank and Hitachi Payment Services aims to bridge the gap between traditional and digital banking, providing a landmark solution that will usher in a new era of technology-driven banking in India.
Ten major banks are set to unveil their Q2 financial reports this Saturday, October 18, offering a glimpse into their performance.
On October 18, 10 banks in India, including both private and public sector lenders, are set to announce their September quarter earnings. The list of banks includes HDFC Bank, ICICI Bank, YES Bank, Punjab National Bank, IDFC First Bank, IndusInd Bank, IDBI Bank, The Federal Bank, RBL Bank, and J&K Bank. Other notable companies that will announce their Q2 earnings are UltraTech Cement, UTI AMC, SML Isuzu, and Can Fin Homes.
Analysts expect the Q2 earnings for India Inc. to rebound after a muted Q1, supported by a mix of cyclical and structural factors. The financial sector is expected to be a key driver of overall earnings growth. Banks and non-banking financial companies (NBFCs) are benefiting from steady credit demand across retail, agriculture, and MSME segments, while asset quality has remained stable. Despite slight pressure on net interest margins, profitability is being supported by healthy loan growth, controlled slippages, and recoveries from past stressed accounts.
In terms of asset quality, analysts expect a comfortable outcome for large banks, with private banks appearing to be more comfortable lending aggressively in unsecured segments such as credit card and personal loans. Mid-size banks are expected to see improvement in microfinance asset quality, although credit costs will remain elevated. The focus will be on forward flows in early delinquency buckets and X bucket collection efficiency.
Regarding margins, most analysts believe that margins have bottomed out in Q2FY26, but the decline will be limited for mid-size banks. Public sector banks are expected to witness relatively lower QoQ margin decline, while large private banks are expected to see a sharper decline. The net interest margin (NIM) for Axis Bank, which has already announced its Q2 earnings, came in at 3.73% for the quarter. The bank reported a 26% decline in standalone net profit to ₹5,089.64 crore annually for the quarter ended September 2025.
Overall, the Q2 earnings announcements are expected to be closely watched by investors, with a focus on asset quality, margins, and profitability. The financial sector is expected to be a key driver of overall earnings growth, and the performance of the banks will be closely monitored.
Kotak Bank Allocates Rs 9 Crore Grant to Support Startups in Tier 2 and 3 Cities: Rediff Money News
Kotak Mahindra Bank has announced a grant of Rs 9 crore to be awarded to 60 startups based in smaller cities as part of its corporate social responsibility initiative, the Kotak Bizlabs Accelerator Programme. This is the second edition of the program, which provided a grant of Rs 5 crore to 32 startups in its first season. The grant aims to support and promote entrepreneurship in smaller cities, and the selected startups will receive funding to help them grow and develop their businesses.
In other news, Mahavir Lunawat, the founder-chairman of Pantomath Capital Advisors, has been re-elected as the chairman of the Association of Investment Bankers of India (AIBI) for a two-year term. Lunawat will be joined by Abhijit Vaidya of Kotak Investment Banking and Lakha Nair of Axis Capital, who will serve as vice-chairpersons. The AIBI is a professional organization that represents the interests of investment bankers in India, and Lunawat’s re-election is seen as a vote of confidence in his leadership.
Meanwhile, Bollywood actor Amitabh Bachchan has purchased three plots of land near the coastal town of Alibag in Maharashtra for a total of over Rs 6.6 crore. The plots, which are part of the HOABL Landbuild project, cumulatively measure 9,500 sq ft. The purchase was reported by data analytics firm CRE Matrix, which tracks real estate transactions. Bachchan’s investment in the plots is seen as a sign of the growing demand for luxury properties in the Alibag region, which is known for its scenic beaches and tranquil atmosphere.
These announcements highlight the ongoing activities in the business and entertainment sectors in India. Kotak Mahindra Bank’s grant to startups demonstrates its commitment to promoting entrepreneurship and supporting small businesses, while Mahavir Lunawat’s re-election as AIBI chairman reflects the organization’s confidence in his leadership. Amitabh Bachchan’s purchase of plots in Alibag, on the other hand, underscores the growing interest in luxury properties in the region. Overall, these developments suggest a positive outlook for the Indian economy and a growing appetite for investment and entrepreneurship.
DFS Secretary says government is on track to finalize IDBI Bank stake sale by end of fiscal year 2026.
The government of India has announced plans to undertake an Offer for Sale (OFS) in five public sector banks. The banks in question are Bank of Maharashtra, Indian Overseas Bank, UCO Bank, Central Bank of India, and Punjab and Sind Bank. The primary objective of this move is to reduce the government’s stake in these banks to below 75%. This development is in line with the government’s previous disclosures regarding its plans to dilute its ownership in these financial institutions.
The OFS is expected to have a significant impact on the banking sector, as it will lead to increased private participation in these banks. By reducing its stake, the government aims to infuse fresh capital, improve efficiency, and enhance the overall competitiveness of these banks. The move is also seen as a step towards consolidating the banking sector and making it more resilient to external shocks.
Meanwhile, Axis Bank’s managing director and chief executive, Amitabh Chaudhry, expressed his bank’s enthusiasm for lending to entities seeking acquisition finance. He noted that foreign lenders currently dominate this segment, and Axis Bank is keen to capitalize on this opportunity. Chaudhry also highlighted the relatively new field of private credit, which offers immense potential for growth.
The private sector lender’s interest in acquisition finance is a significant development, as it indicates a shift in the bank’s strategy towards catering to the growing needs of corporate clients. With the government’s plans to divest its stake in public sector banks, private lenders like Axis Bank are likely to play a more prominent role in the banking sector. As the Indian economy continues to grow, the demand for acquisition finance is expected to increase, and Axis Bank is well-positioned to tap into this opportunity.
Overall, the government’s plan to undertake an OFS in five public sector banks and Axis Bank’s interest in acquisition finance are positive developments for the Indian banking sector. These moves are expected to lead to increased private participation, improved efficiency, and enhanced competitiveness, ultimately contributing to the growth and stability of the economy.
Bandhan Bank, Equitas SFB, AU SFB, and Axis are expected to experience a decline in net interest margin, while RBL Bank is likely to defy this trend, according to a Q2 preview.
The second quarter (Q2) preview for several Indian banks suggests that Net Interest Margin (NIM) may decline for most of them, with RBL Bank being an exception.
Bandhan Bank’s NIM is expected to fall due to a rise in cost of funds and a marginal increase in yields on advances. The bank’s focus on granular deposits and its efforts to diversify its loan book may not be enough to offset the decline in NIM.
Equitas Small Finance Bank (SFB) is also likely to see a decline in NIM due to an increase in the cost of funds and a higher proportion of low-yielding assets. The bank’s strategy to expand its reach and improve operational efficiency may take some time to yield results.
AU Small Finance Bank (SFB) may experience a decline in NIM due to a rise in funding costs and a moderate increase in yields on assets. The bank’s efforts to improve its asset quality and reduce its cost-to-income ratio may not be sufficient to offset the decline in NIM.
Axis Bank’s NIM is expected to fall due to a rise in the cost of funds and a moderate increase in yields on advances. The bank’s focus on improving its asset quality and expanding its reach may not be enough to offset the decline in NIM.
On the other hand, RBL Bank is expected to be an outlier, with a potential increase in NIM due to a decline in the cost of funds and a rise in yields on advances. The bank’s efforts to improve its asset quality and expand its reach may yield positive results.
Overall, the Q2 preview suggests that most of these banks may face a decline in NIM due to various factors, including a rise in funding costs and a moderate increase in yields on assets. However, RBL Bank’s ability to manage its costs and improve its asset quality may help it stand out from its peers.
It’s worth noting that these predictions are based on current trends and may be subject to change based on various factors, including changes in the economic environment and the banks’ individual strategies. The actual performance of these banks may differ from the predicted outcomes.
The Q2 results will provide more clarity on the performance of these banks and the trends that may shape their future growth. Investors and analysts will be closely watching the results to gauge the impact of the current economic environment on the banking sector.
In conclusion, the Q2 preview for these Indian banks suggests a decline in NIM for most of them, with RBL Bank being an exception. The actual performance of these banks will depend on various factors, including their ability to manage costs, improve asset quality, and expand their reach.
JSW One Platforms secures ₹575 crore funding from key investors including SBI, JSW Steel, and Principal Asset Management.
JSW One Platforms, the B2B ecommerce arm of the JSW Group, has completed a funding round of Rs 575 crore with participation from several investors, including State Bank of India (SBI), Principal Asset Management, and JSW Steel. The funding round, which began in May, values the company at around Rs 8,575 crore. The fresh capital will be used to scale the company’s technology platform, expand its distribution and logistics network, and strengthen its non-banking financial company (NBFC) arm.
The NBFC arm, JSW One Finance, provides financing solutions to small and medium enterprises (MSMEs) and has assets under management (AUM) of Rs 100 crore. The company aims to increase this to Rs 500 crore by the end of the year. The lenders that provide loans through JSW One’s platform include several major banks, such as ICICI Bank, IndusInd Bank, and Axis Bank.
JSW One Platforms operates a digital marketplace through two main entities: JSW One Distribution and JSW One Finance. The company offers materials, credit, and logistics services to firms in the manufacturing and building sectors. In the fiscal year ending March 2025, JSW One recorded a gross merchandise value (GMV) of Rs 12,567 crore and revenue of Rs 3,976 crore.
The company plans to use the funding to build more technology and integrate its supply chain in real-time. The CEO, Gaurav Sachdeva, stated that the company wants to leverage the funding to build more technology and enhance its underwriting capabilities. The chairman, Parth Jindal, said that the funding will help the company empower MSMEs through tech-driven solutions and bridge the working capital gap for MSMEs.
JSW One Platforms is planning to go public in the next 18-24 months, joining peers such as Zetwerk, Infra.Market, and OfBusiness in preparing for an initial public offering (IPO). The company’s growth and expansion plans are expected to drive its success in the B2B ecommerce market. With the fresh funding, JSW One Platforms is well-positioned to achieve its goals and become a key player in India’s industrial ecosystem.
Bandhan Bank, Equitas SFB, AU SFB, and Axis are expected to experience a decline in Net Interest Margin (NIM), while RBL Bank is likely to be an exception: Q2 preview
Motilal Oswal Financial Services (MOFSL) forecasts that the September quarter (Q2FY26) will mark the bottom for the banking sector’s net interest margins (NIMs), with profitability expected to recover gradually in the second half of the year. This recovery will be driven by deposit repricing and the phased Cut in Cash Reserve Ratio (CRR). According to MOFSL, credit growth remains modest, with system-wide credit growth standing at 10.3% year-on-year as of September 5, 2025. The brokerage expects systemic loan growth to sustain at 11% in FY26E and improve to 12.5% in FY27E, aided by a pickup in consumption from GST rate cuts, income tax relief, and lower borrowing costs.
MOFSL notes that system deposit growth held steady at 9.8% year-on-year in September, despite rate cuts. However, banks continue to face challenges in mobilizing low-cost Current Account and Savings Account (CASA) deposits. The moderation in policy rates has led to reductions in both savings and term deposit rates, which should lower the cost of funds in the second half and aid NIM recovery.
The brokerage expects sharper NIM declines for certain banks, including Bandhan Bank, Equitas SFB, AU SFB, and Axis Bank, while RBL Bank could see a slight improvement. Stress remains in unsecured retail segments, such as microfinance and credit cards, though collection efficiencies are improving. Select segments, including micro-LAP, CV loans, and affordable housing, are also showing signs of stress, with additional risks from recent floods in northern and eastern states.
For Q2FY26, MOFSL estimates a decline in Net Interest Income (NII) for its coverage universe, with a 0.9% year-on-year decline and a 1.8% quarter-on-quarter decline. Pre-Provision Operating Profit (PPoP) is projected to fall 5.5% year-on-year and 14% quarter-on-quarter, while Profit After Tax (PAT) is expected to decline 7.2% year-on-year and 4.5% quarter-on-quarter. However, the brokerage sees earnings traction building from the second half of FY26, leading to a 17.7% PAT Compound Annual Growth Rate (CAGR) over FY26-28E.
In terms of specific bank performance, MOFSL forecasts that private banks’ PAT will fall 7.3% year-on-year in Q2, with NII growth muted at 0.6% year-on-year. Public Sector Undertaking (PSU) banks’ PAT is projected to fall 7.1% year-on-year, driven by NIM compression and lower treasury gains. Small Finance Banks are expected to face persistent NIM pressure in Q2, while fintechs and payments companies, such as SBI Cards and Paytm, are expected to report strong growth. Overall, MOFSL expects the banking sector to recover gradually in the second half of the year, driven by deposit repricing and the phased CRR cut.
Axis Bank: Reevaluation underway for potential sale of stake in Axis Finance subsidiary
Axis Bank is reevaluating its plans to sell a stake in its non-banking subsidiary Axis Finance due to uncertainty surrounding the Reserve Bank of India’s (RBI) upcoming “forms of business” circular. Potential investors have expressed interest in the transaction but are seeking regulatory clarity before making valuations. The bank had previously committed to the RBI that it would not infuse additional capital into Axis Finance and was exploring a strategic sale to private equity investors, with a potential initial public offering (IPO) at a later stage.
The RBI’s draft guidelines, issued last October, have restricted bank subsidiaries from undertaking core lending activities and discouraged duplication of businesses between banks and their non-banking financial company (NBFC) arms. This has weighed on valuations of bank subsidiaries, including Axis Finance. The company offers products such as gold loans, loans against property, and two-wheeler loans, which are also offered by Axis Bank.
In July, global private equity giants, including Blackstone, Advent, EQT, and Kedaara, expressed interest in acquiring a 20% stake in Axis Finance. However, the sector has seen valuation headwinds, with HDB Financial Services recently listing at a steep discount of nearly 40% lower than its price in the unlisted market. Axis Bank’s CEO, Amitabh Chaudhry, had stated that the bank is committed to raising capital for Axis Finance, which will need a couple of thousand crores over the next few years.
The RBI’s “forms of business” circular is expected to be finalized soon, according to RBI Governor Sanjay Malhotra. The circular’s clarity will be crucial in determining the valuation of Axis Finance and the potential sale of a stake in the company. Axis Bank is waiting for greater clarity on the circular before proceeding with the transaction. The bank’s commitment to the RBI and the need for regulatory clarity have made it challenging for potential investors to firm up valuations, leading to a reassessment of the plans to sell a stake in Axis Finance.
As a trusted news source, it is essential to stay updated on the developments surrounding Axis Bank and Axis Finance. The company’s plans to raise capital and the potential sale of a stake in the subsidiary will be closely watched by investors and industry experts. The RBI’s “forms of business” circular will play a crucial role in determining the fate of Axis Finance and the broader banking sector.
Axis Bank sparks controversy with a provocative new advertisement showcasing Santa Claus participating in a Navratri Garba celebration.
Axis Bank has launched a new advertisement campaign called “Dil Se Open Celebration 2025” to coincide with the Hindu festival of Diwali. The ad features Santa Claus making an appearance during Navratri celebrations, which has sparked outrage on social media. Many users are accusing the bank of “Christianisation” and demanding the removal of the advertisement. The hashtag calling for a boycott of Axis Bank has begun to trend on Twitter.
The ad shows a Garba dance going on during Navratri, when suddenly Santa Claus enters, promoting the bank’s offers that will run from Navratri through Diwali and until Christmas. Users are criticizing the bank for inserting a Christian symbol into a Hindu festival, claiming it is an attempt to dilute Hindu traditions and preach secularism. Some are questioning why similar ads are not made for Muslim festivals like Eid, and why Hindu festivals are always targeted to promote secularism.
The controversy has led to a backlash against the bank, with many users threatening to close their accounts and boycott the bank’s services. The issue has sparked a larger debate about the exploitation of Hindu festivals for marketing purposes, with many arguing that other faiths are not subject to the same treatment. The pattern of targeting Hindu festivals to promote secularism, while leaving other festivals untouched, has been noted by many users.
The Axis Bank ad is not an isolated incident, as similar controversies have arisen in the past. In 2020, a Tanishq ad promoting “love jihad” sparked outrage, and there have been other instances of brands using Hindu festivals to promote secularism while avoiding similar campaigns for other faiths. The issue highlights the need for sensitivity and respect for different cultures and traditions in marketing and advertising. By targeting Hindu festivals, companies like Axis Bank are seen as disrespecting and diluting Hindu traditions, rather than promoting genuine secularism and inclusivity.
Bank of Baroda slashes lending rates: 5 major banks, including BoB, cut EMIs in September 2025, making loans more affordable – The Economic Times
As of September 2025, several major banks in India have reduced their lending rates, paving the way for lower Equated Monthly Installments (EMIs) for borrowers. According to a report by The Economic Times, at least five banks have cut their lending rates, providing relief to home loan and personal loan customers.
One of the banks that has reduced its lending rates is the Bank of Baroda. The Bank of Baroda has lowered its Marginal Cost of Funds Based Lending Rate (MCLR) across various tenors, which will lead to a decrease in the interest rates on loans such as home loans, auto loans, and personal loans.
Other banks that have reduced their lending rates include the State Bank of India (SBI), ICICI Bank, HDFC Bank, and Axis Bank. The reduction in lending rates is expected to make borrowing more affordable for customers and provide a boost to the economy.
The cut in lending rates is also expected to increase credit demand, as lower interest rates will make loans more attractive to borrowers. This, in turn, can lead to an increase in consumer spending and investment, which can have a positive impact on the overall economy.
The reduction in lending rates by these banks is seen as a-move to pass on the benefits of the lower policy rates to the customers. The Reserve Bank of India (RBI) had earlier reduced the policy rates to stimulate economic growth.
The lowering of lending rates by these banks is a welcome move for borrowers, as it will lead to lower EMIs and reduced interest burden. However, it is essential for borrowers to review their loan agreements and terms to understand the impact of the reduced lending rates on their loans.
In conclusion, the reduction in lending rates by major banks in India, including the Bank of Baroda, is a positive development for borrowers. With lower lending rates, borrowers can expect lower EMIs and reduced interest burden, making borrowing more affordable. As the economy continues to evolve, it will be interesting to see how these changes impact the banking and financial sectors.
SriLankan Airlines Partners with Axis Bank to Offer Exclusive Travel Services
SriLankan Airlines and Axis Bank have announced a historic travel alliance aimed at enriching international travel experiences for Indian customers. This partnership, a first of its kind, will provide Axis Bank’s 15 million cardholders with exclusive benefits, including low fares and additional travel perks. The alliance will offer a 10 percent discount on Business and Economy Class fares booked online from SriLankan Airlines’ website for travel from India to Colombo and beyond to destinations in the Middle East, Far East, Maldives, and Europe.
Cardholders will also receive an additional 5kg baggage allowance on flights to Melbourne. According to Richard Nuttall, CEO of SriLankan Airlines, this alliance is not just about savings, but about changing the way Indians travel. The partnership aims to boost travel between India and Sri Lanka, with 88 weekly flights connecting nine Indian cities to Colombo and beyond.
Sanjeev Moghe, Axis Bank President & Head – Cards & Payments, expressed his enthusiasm for the partnership, stating that it will make travel more convenient while increasing cultural and economic exchange between India and Sri Lanka. As the first private Indian bank to introduce such a program with SriLankan Airlines, Axis Bank is opening doors to global travel for its customers.
The move is seen as a strategic attempt to stimulate post-pandemic travel demand and fuel tourism development in Sri Lanka. Analysts believe that this tie-up sets a precedent for further airline-bank integrations in South Asia, involving convenience, cost savings, and strategic economic alignment. With SriLankan Airlines doubling its bet on India as a core market, the partnership is expected to have a significant impact on the travel industry in the region.
The key highlights of the partnership include exclusive discounts, additional baggage allowance, and increased global access for Axis Bank cardholders. The alliance is a significant development in the travel industry, and its impact will be closely watched in the coming months. As the travel industry continues to recover from the pandemic, such partnerships are likely to play a crucial role in shaping the future of travel in the region.
Axis Bank India and SriLankan Airlines have partnered to provide their customers with special discounted airfare rates.
SriLankan Airlines has announced a strategic partnership with Axis Bank, one of India’s largest private sector banks, to offer exclusive benefits to the bank’s 15 million customers. This partnership marks a new chapter for SriLankan Airlines in its efforts to provide seamless and affordable travel experiences to Indian travelers. As part of the collaboration, Axis Bank credit and debit cardholders will enjoy a 10% discount on Business Class and Economy Class fares when booking through the SriLankan Airlines website.
The discount applies to all SriLankan Airlines flights from India to Colombo and onward to destinations in the Far East, Middle East, Maldives, Frankfurt, and Paris. Additionally, customers traveling to Melbourne will receive an extra 5kg of checked baggage allowance. This partnership is expected to bring significant savings and value to international travel for Axis Bank customers.
According to Fawzan Fareid, Regional Manager India, Bangladesh & Nepal of SriLankan Airlines, this partnership is a first for the airline with a private Indian bank. The combined strengths of SriLankan Airlines and Axis Bank will enable them to deliver great value to their customers as the partnership grows. Arnika Dixit, President & Head – Cards, Payments and Wealth Management, Axis Bank, commented that the partnership enriches their customers’ lifestyles and journeys, offering exclusive travel benefits and premium privileges.
India is a key market for SriLankan Airlines, with nine cities featured in its network. The airline operates 88 weekly flights between India and Sri Lanka, connecting passengers to Colombo and beyond. This partnership is expected to further strengthen the airline’s presence in the Indian market and provide more attractive deals for its customers. With this partnership, SriLankan Airlines aims to foster deeper connections with Indian travelers and provide them with memorable and rewarding travel experiences.
The partnership between SriLankan Airlines and Axis Bank is a significant step in enhancing the travel experiences of Indian customers. By offering exclusive discounts and benefits, the airline aims to increase its customer base and provide more value to its existing customers. As the partnership advances, SriLankan Airlines is expected to offer even more attractive deals and greater value for money for its Indian customers.