
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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Outshining ICICI Bank and Axis Bank, HDFC Bank’s interest rates are the lowest – See the latest rates from India’s top private lender – Personal Finance
HDFC Bank, India’s second-largest bank by assets, has reduced its interest rate on savings accounts by 25 basis points to 2.75%. This reduction is effective from April 12 and applies to savings accounts with balances less than Rs 50 lakh, earning an interest rate of 2.75% per annum. Accounts with balances over Rs 50 lakh will earn an interest rate of 3.25% per annum. This move comes after the Reserve Bank of India (RBI) announced a second consecutive benchmark repo rate cut, which has shifted its monetary policy stance from Neutral to Accommodative.
The reduction in HDFC Bank’s interest rate brings it closer to public sector lenders like State Bank of India and Punjab National Bank, which offer a minimum interest rate of 2.70% on savings account deposits since 2022. HDFC Bank’s interest rate is now on par with Bank of Baroda, which offers an interest rate of 2.75% on deposits up to Rs 50 crore.
In comparison, HDFC Bank’s peers, ICICI Bank and Axis Bank, are currently offering a minimum interest rate of 3% on balances below Rs 50 lakhs. The reduction in HDFC Bank’s interest rate is likely a response to the changing economic environment and the RBI’s move to prioritize growth over inflation control.
Widespread disruption: India’s UPI transaction system crashes, leaving users unable to access multiple apps and services nationwide | Top News Stories
A major outage affected several UPI (Unified Payments Interface) apps on Saturday, preventing users from sending and receiving money. According to data from Downdetector, a website that tracks app outages, over 2,300 reports of UPI issues were submitted around 1 PM. Google Pay, Paytm, and various banks were among the apps affected. The outage caused significant inconvenience to users across India, marking the third major UPI outage in the past 30 days.
The most affected banks included State Bank of India (SBI), HDFC Bank, Axis Bank, Bank of India, Indian Bank, ICICI Bank, Kotak Mahindra Bank, Bank of Baroda, Federal Bank of India, IDBI Bank, Yes Bank, IndusInd Bank, and IDFC Bank. Many users reported issues with mobile banking, online banking, fund transfers, and bill payments.
While the outage was widespread, no single issue dominated the reports. Some users reported payment failures, while others experienced problems with transactions, mobile banking, and online banking. The exact cause of the outage is not clear, but it highlights the importance of reliable payment systems and the need for banks and fintech companies to prioritize user experience.
The recent outage serves as a reminder that technology can fail, and it is essential to have backup plans and redundancy measures in place to minimize the impact of outages. In the meantime, affected users are advised to monitor the situation and wait for further updates from their banks and fintech companies.
India’s Axis Bank Collaborates with JPMorgan to Develop Blockchain-Powered Payment Infrastructure
Axis Bank, a leading private sector bank in India, has partnered with JPMorgan’s Kinexys Digital Payments (KDP) to offer near-instant, round-the-clock programmable USD clearing services for its business clients. This partnership enables Axis Bank to provide its clients with the flexibility to access cross-border payment services 24/7, improving the reliability of payment processing and paving the way for new and creative corporate applications.
Kinexys Digital Payments is supported by a scalable network of blockchain deposit accounts that facilitates and automates payments directly between accounts. The platform has already facilitated over $1.5 trillion in transaction volume, with daily transactions exceeding $2 billion, and has experienced a remarkable 10-fold growth in payment transactions year over year.
The Axis Bank-Kinexys partnership marks the next step in creating a growing industry-wide blockchain-based financial ecosystem with interoperability among central bank digital currencies, stablecoins, and other digital currency solutions. The innovation is the result of Axis Bank’s “innovation-first mindset” and its commitment to emerging technologies such as blockchain, artificial intelligence, big data, cloud computing, and payment solutions.
India’s Economic Survey 2024-2025 highlights the rapid advancements in technology, particularly in areas such as AI, blockchain, and data analytics, which create new opportunities to revolutionize traditional financial services and processes. The survey notes that AI and large language models have enhanced customer service through interactive chatbots and personalized experiences, while blockchain technology ensures secure, transparent, and efficient transactions.
Axis Bank has committed significant resources to emerging technologies as part of its digital transformation strategy, with a focus on AI, blockchain, and payment solutions. The bank’s annual Information and Communications Technology (ICT) expenditure has touched $290 million, with a substantial portion allocated for purchasing software, ICT services, and network and communications solutions from various vendors.
India’s central bank is expected to slash the repo rate on April 9, potentially driving home loan rates down to record lows of under 8%.
The Reserve Bank of India (RBI) is set to announce its first monetary policy for the financial year 2025-26 on April 9, with markets and economists expecting a repo rate reduction of at least 25 basis points. This could lead to a decrease in home loan interest rates, making it an opportune time for those considering a new loan or refinance. Currently, public sector lenders such as Central Bank of India, Union Bank of India, and Punjab National Bank offer interest rates ranging from 8.1% to 8.15% per annum.
Private sector banks like HDFC, Axis, and ICICI Bank have already reduced their interest rates on fresh home loans by 5-10 basis points between January and April. According to RBI rules, banks are required to review interest rates at least once every quarter, and new borrowers may see their rates going down in the coming days.
A 25-basis point repo rate cut could mean home loan interest rates dipping below 8% per annum. For instance, a Rs 50-lakh home loan with a 20-year tenure would attract an EMI of Rs 42,106 with an interest rate of 7.9% per annum, compared to the current EMI of Rs 42,290.
The article provides a breakdown of the cheapest home loans offered by Indian banks, with Central Bank of India and Union Bank of India offering the lowest interest rates at 8.1% per annum. Other public sector banks, such as Bank of India, Indian Overseas Bank, and Punjab National Bank, offer interest rates ranging from 8.15% to 8.25% per annum.
Private sector lenders like HDFC Bank, Axis Bank, and ICICI Bank offer interest rates ranging from 8.25% to 8.75% per annum. Housing finance companies like LIC Housing Finance, Bajaj Finserv, and PNB Housing Finance also offer competitive interest rates, with rates starting at 8.2% to 8.6% per annum.
Early morning heist: Two thieves attempt to crack safe, but come up empty-handed
Two masked men attempted to rob an Axis Bank branch in Chandigarh, India in the early hours of Sunday morning. The men breached the wall of the bank near Housing Board Light Point, NAC Manimajra, around 3:30 am by breaking the lock of the rear shutter and then entering through the wall. They turned off the CCTV cameras and attempted to disable the alarm system, but were unsuccessful. The security alarm went off, alerting police and bank officials. The burglars spent approximately 15 minutes inside the bank, trying to open the cash box with a cutter, but ultimately fled the scene.
The entire incident was captured on CCTV footage, which showed the men’s faces fully covered with cloth to avoid identification. The police were notified, and different teams rushed to the scene, but the intruders had already escaped. The police registered a case against the two unidentified individuals and are investigating the matter. They are reviewing the CCTV footage, as well as footage from nearby junctions and roundabouts, to try to identify the culprits. The police are also analyzing mobile phone call details to gather more information.
Stock Market Updates for Axis Bank
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Despite US tariffs, India’s economy remains resilient, but needs to address market fluctuations to ensure stability, asserts Neelkanth Mishra, Economist at Axis Bank.
The article discusses India’s resilience in the face of US tariffs and its need to negotiate market volatility. According to a recent interview with Neelkanth Mishra, an economist at Axis Bank, India has shown significant resilience against the impact of tariffs imposed by the United States.
Mishra mentions that India’s economy has witnessed some stress due to the US trade tensions, but the country has navigated this challenge well in the short term. He notes that the benefits from the trade balance have more than offset the negative impact of tariffs, indicating that India’s economic fundamentals remain strong.
However, Mishra also emphasizes the need for India to negotiate market volatility in the short term. He suggests that the high market volatility is largely driven by the US-China trade tensions, which have caused a flight of funds from emerging markets, including India.
Despite the economic indicators being positive, the country is facing some challenges. Large economies are expected to slow down, which may impact India’s exports. Additionally, lower oil prices which have been a windfall for India may not continue.
Mishra recommends that the government implement measures to reduce the subsidy burden on oil companies so that the benefits of lower oil prices can be passed on to consumers. He also suggests that the government prioritize farmer welfare, provide social security to vulnerable sections, and pump-prime infrastructure to prevent a slowdown.
Mishra also mentions that high fiscal deficit is a concern for investors and adds to the market volatility witnessed. This volatility is exacerbated by the government’s borrowing costs rising 25- 37 basis points after the recent bond auction.
The overall message from Mishra is that India is resilient due to its strong economic fundamentals, but it still needs to negotiate the market volatility which is increasing due to a slowdown in global growth and uncertainty over the trade tensions between the US and China.
Axis Bank’s strategic investment in its people powerfully drives business growth, while significantly reducing employee turnover
Axis Bank has been recognized as the fifth best workplace in Fortune India’s Future-ready Workplaces Study, driven by its focus on people and fostering a culture that transforms the workplace into a talent hub. The bank has demonstrated its ability to adapt to technological disruptions and increased regulatory scrutiny by shifting its focus to its employees and developing a people-centric model that fuels growth.
With 104,332 employees, 5,377 branches, and a profit of ₹25 lakh per employee, Axis Bank is taking steps to address employee distress and promote internal career growth. Its Project Thrive initiative prioritizes internal career development over external hiring, having helped 4,500 employees transition into new roles last year. The bank also offers leadership development programs, such as AHEAD and ASTROS, which groom high-potential employees for top management positions.
Axis Bank’s talent strategy also emphasizes inclusivity, with initiatives such as #ComeAsYouAre and WomenInEveryTeam increasing representation of women in the workforce. The ARISE program has brought in fresh talent from non-traditional backgrounds, including over 26,000 women employees. Women’s hiring in the microfinance business has also seen a significant increase, from 4% to 27%. According to Chief Human Resources Officer Rajkamal Vempati, the bank has successfully changed the narrative around women leaving the workforce due to life-stage events, with women’s attrition rates now matching or falling below those of men.
Overall, Axis Bank’s focus on people has enabled it to navigate the challenges of modern banking and set a new standard for the industry. Its commitment to employee development, inclusivity, and diversity has earned it a reputation as a top employer and a leader in the banking sector.
SBI, Axis Bank, and IDFC Bank unveil revised benefits for their most popular credit cards, effective from April 1, 2025, as part of new sector-wide regulations
As of April 1, 2025, new credit card rules will come into effect in India, affecting account holders at major banks such as State Bank of India (SBI), Axis Bank, and IDFC First Bank. These changes will impact credit card benefits, reward systems, and policies, and it is essential for cardholders to be aware of these changes to maximize their benefits and avoid penalties.
The SBI Card reward points program is undergoing significant changes, with SimplyCLICK SBI cardholders no longer earning 10X reward points on Swiggy transactions, but instead receiving 5X. However, other partner brands, such as Myntra, BookMyShow, and Apollo 24, will still offer 10X reward points.
The Air India SBI Platinum Credit Card and Air India SBI Signature Credit Card will also see changes, with the rewards points per Rs 100 spent on Air India ticket reservations decreasing from 15 and 30, respectively, to 5 and 10.
Axis Bank is updating its Vistara Credit Card, waiving annual charges for cardmembers who renew their cards on or after April 18, 2025. However, complimentary memberships in Maharaja Club tiers are being discontinued, eliminating certain high-value inclusions.
IDFC First Bank is eliminating milestone rewards for its Club Vistara Credit Card, and cardholders will no longer be able to earn Maharaja Points. The card will be phased out, and free Club Vistara Silver Membership and travel benefits, such as Premium Economy Ticket vouchers and class upgrade vouchers, will no longer be available. Cardholders who renew their cards after March 31, 2025, will have their annual fee waived for one year, but primary travel benefits will be deleted.
It is crucial for credit card users to familiarize themselves with these changes to ensure they continue to receive maximum benefits and avoid any unexpected penalties during the upcoming financial year.
Important update for account holders of SBI, IDFC, and Axis Bank: a significant change is coming into effect on April 1, 2023.
Starting in April 2025, several major banks in India may undergo changes to their credit card reward points, affecting cardholders. Reports suggest that SBI Bank, IDFC First Bank, and Axis Bank are likely to make changes, although these have not been officially confirmed. Specifically, SBI Bank’s reward points system may be revised, with potential reductions in points for certain purchases. For example, the Air India Platinum Credit Card’s 15 points per 100 rupees spent may be reduced to 5 points. Similarly, the Signature Credit Card’s 30-point earning rate may be lowered to 10 points.
IDFC First Bank’s Club Vistara Credit Card, which provides Maharaja Points, may be discontinued after March 31, 2025. Axis Bank’s Vistara credit card may also undergo changes, with no annual fee for card renewal starting April 18, 2025, and discontinuation of the Maharaja Club membership.
Using a credit card offers various advantages, including deductions of spent amounts from one’s account the following month, a spending limit specific to each card, and perks such as reward points and cashback offers. Credit card usage can also help boost one’s CIBIL score and provide quick payment options in emergencies. The changes announced, if confirmed, may impact cardholders’ earning potential and overall banking experience.
According to sources, AU Small Finance Bank is planning to issue Tier II bonds, market insiders claim — TradingView News
India’s AU Small Finance Bank (AUBANK) plans to issue 8 billion rupees ($93.34 million) in bonds, with an option to raise an additional 4 billion rupees, through the sale of 10-year Tier II bonds. The bonds will have a coupon rate of 9.20% per annum and a call option at the end of 5 years. The bank is inviting commitment bids from bankers and investors on Thursday.
AUBANK is not the only issuer in the market today, as multiple deals have been reported, including issues by Axis Finance, IIFCL, IRFC, HDB Financial, and NaBFID, among others. The deals vary in tenure, coupon rates, and issue sizes, with some having a greenshoe option. For instance, IRFC is issuing 30 billion rupees in bonds with a 7.17% coupon rate, while Axis Finance is issuing 5.35 billion rupees with a 7.97% coupon rate.
The Indian credit rating agencies, such as Icra, Care, and India Ratings, have assigned high ratings to many of these deals, indicating a high level of creditworthiness. For example, AUBANK’s 10-year bonds have been rated AA by Icra and Care, while IRFC’s 10-year bonds have been rated AA by Crisil, Icra, and Care. HDB Financial’s 2-year bonds have been rated AAA by Crisil and Care, among others.
It’s worth noting that the interest rates on these bonds are significantly higher than those available on traditional fixed deposits in India, making them an attractive option for investors looking for a relatively safe and lucrative investment opportunity. Overall, the Indian bond market is expected to remain active in the coming days, with various issuers seeking to raise capital through debt placement.
As of April, SBI, IDFC, and Axis Bank will be scaling back certain credit card benefits, a move that may impact cardholders’ rewards and privileges.
IDFC First Bank has made an announcement that is likely to affect its Credit Card holders. The bank will discontinue the milestone benefits associated with its Club Vistara Credit Card on March 31, 2025. This means that cardholders will no longer be able to earn certain rewards and benefits from that date onwards.
Although customers will still be able to earn Maharaja Points until March 31, 2026, the card will eventually be phased out. This change also has implications for the Club Vistara Silver Membership, which will no longer be available.
As a result of this change,cardholders will also lose access to certain complimentary vouchers, including Premium Economy Ticket and class upgrade vouchers. These benefits were previously available to cardholders, and their discontinuation is likely to disappoint many cardholders.
IDFC First Bank has not provided reasons for this change, but it is not uncommon for banks to discontinue certain benefits or products to simplify their offerings and focus on more popular or profitable ones. For cardholders, this change may mean that they need to explore alternative credit cards or rewards programs to get the benefits they are currently enjoying.
It is essential for cardholders to review their credit card agreements and understand the terms and conditions, including any potential changes to benefits and rewards. They should also consider alternative options that can provide similar benefits to stay on top of their financial rewards and benefits.
Axis Securities PMS’ Neeraj Gaurh predicts FY26 recovery will be driven by lower taxes and reduced government spending, advocating for a focus on pharma and consumer segments over IT.
Axis Securities PMS Fund Manager Neeraj Gaur is optimistic about the Indian economy and markets in FY26, citing factors such as a stable currency, improved FPI flows, higher government capex, and the lower income tax benefit from April. He expects a turnaround in the economy, driven by high-frequency economic indicators improving from May/June 2025 and system credit growth increasing in the second half of the year.
Gaur believes that investors should not judge mutual funds solely on 1-year performance, but rather look at 3-year and 5-year performance. He advises investors to re-evaluate their fund holdings if they have underperforming funds and consider shifting assets to fixed-income or balanced funds to weather market fluctuations.
In terms of his own fund strategies, Gaur’s Axis Securities Pure Growth fund outperformed the market in February, while his Axis Securities Pure Contra and Axis Securities Kaizen strategies underperformed. He plans to reduce his banking underweight position if liquidity improves and maintain his overweight position in pharma and discretionary consumption sectors.
Gaur also sees opportunities emerging in the global exports space due to uncertainty around Trump Tariffs, and is positive on pharma exports and the textile sector. He expects India’s growth story to remain compelling over a multi-year horizon, driven by a young demographic and structural reforms.
As the lucrative bank IPO market of the past decade saw IDFC First, Bandhan, RBL, Ujjivan, and Suryoday venture forth, the quest for the next HDFC Bank giant proves to be a reverse, with none managing to replicate its spectacular success.
The article highlights the struggles of banking stocks, particularly private banks that listed in the last decade. Despite being seen as having growth potential, many of these banks have underperformed the market, leading to significant losses for investors who tried to identify the “next HDFC Bank”. Out of 13 private bank IPOs in the last decade, only 2 have posted positive returns since their IPO, and none have beaten the index. Even larger banks, such as Federal Bank, have only managed to keep pace with the Nifty Bank index, with a CAGR of 10%.
The article suggests that “fortune favors scale”, implying that larger banks are more likely to perform well over the long-term. This is reflected in the Nifty Bank index, where the top 5 constituents (HDFC Bank, SBI, ICICI Bank, Axis Bank, and Kotak Mahindra Bank) account for 86.5% of the combined market capitalization of all Nifty Bank constituents, up from 17.5% in 2015.
The article concludes that investors would be better off buying the index rather than trying to pick individual stocks in the banking sector. This is a decade-long lesson learned, with many investors having lost money trying to identify the next high-performing bank. As legendary investor John Bogle once said, “Don’t look for a needle in the haystack. Just buy the haystack.” This piece of advice may be particularly relevant for long-term investors who are not sure how to pick stocks in the banking sector.
Attention Vistara Credit Cardholders: Key partners SBI, Axis, and IDFC First to revise benefits starting April 2025 – Goodreturns
Vistara Credit Cardholders Alert: SBI, Axis, IDFC First To Modify Benefits From April 2025
Several prominent banks, including State Bank of India (SBI), Axis Bank, and IDFC First Bank, have informed their Vistara Credit Cardholders that certain benefits will be modified from April 2025. This move is likely to affect thousands of cardholders across the country.
As part of the modification, the respective banks will be introducing new features and reforms to their reward points, and other benefits associated with the Vistara Credit Card. Some of the changes include:
- Reward Points: The banks will merge the existing reward points with a new point-based system, which will be applicable on transactions made after April 2025. The new system is expected to provide more flexibility and options for redemption.
- Cardholders’ Tier-wise Benefits: The banks will no longer offer separate tier-wise benefits. Instead, they will offer a single-tier redemption system, which will apply to all cardholders.
- Fuel Surcharge Waiver: The current fuel surcharge waiver of 1% is set to expire, and cardholders will need to pay the full charge on transactions made at petrol pumps.
- Domestic and International Airport Lounge Access: The existing lounge access will be discontinued, and cardholders will only be able to access selected lounges with a fee.
- Return of Interest: The interest rates on interest-free periods for credit card transactions will be revised, and cardholders will be charged interest rates accordingly.
To ensure a smooth transition, the banks have requested cardholders to:
- Continue using their existing Vistara Credit Card until the modification takes effect in April 2025.
- Update their contact details with the respective banks to receive notifications regarding the changes.
- Review and understand the new benefits and terms and conditions associated with their Vistara Credit Card.
It is crucial for Vistara Credit Cardholders to be aware of these changes and their impact to make informed decisions regarding their credit card usage. With these modifications, cardholders can adapt to the new system and maximize the benefits from their credit cards.
Axis is exploring alternative options after experiencing ongoing service difficulties with its current ATM provider.
Axis Bank is in talks to acquire 3,500-4,000 of its automated teller machines (ATMs) currently managed by struggling service provider AGS Transact Technologies. The bank is looking to transfer the machines to a new service provider due to concerns over deteriorating service quality. Under the current agreement, Axis Bank and AGS Transact have a “Brown Label ATM” arrangement, where the service provider manages the entire ATM lifecycle, including maintenance and cash management, while the bank’s branding appears on the machines.
The acquisition would involve a comprehensive audit of the ATMs to determine the purchase price, which would be based on factors including depreciation, maintenance, and upgrade costs. Axis Bank has already started discussing the deal with other ATM service providers, but will need to wait for the buyout to be completed before making the transition.
The move comes after a recent ET report highlighted the financial troubles of AGS Transact, which has impacted over 38,000 ATMs of major banks, including State Bank of India, ICICI Bank, and HDFC Bank. AGS Transact’s financial woes have led to the migration of over 50% of its machines to other network providers, and the company is struggling to pay its debts, which stand at over ₹726 crore. Credit rating agencies have downgraded the company’s ratings, citing a high risk of debt default. Despite these challenges, 80-85% of Axis Bank’s ATMs continue to function smoothly, with the bank operating over 15,000 ATMs and cash recyclers across the country.
Senior Citizens’ FD Offer: Take advantage of 9.10% interest rates on Fixed Deposits from these top banks, find out more details here!
Fixed Deposits (FDs) have been a popular investment option in India for many years, particularly among senior citizens. This is because FDs are considered to be a safe and secure way to invest, with a high return on investment. Senior citizens can earn higher interest rates than normal citizens, typically around 0.5% more, making it an attractive option for those looking to generate a steady income post-retirement.
Banks and non-banking financial companies (NBFCs) offer FDs with interest rates ranging from 2.50% to 9.10% for a period of 7 days to 10 years. Many private banks offer interest rates up to 7%, while some NBFCs offer 9% interest on FDs. This makes FDs a lucrative option for those seeking a high return on investment.
Top banks and NBFCs in India offer FD rates as follows:
* Public Sector Banks: Bank of Baroda, Bank of India, Canara Bank, Central Bank of India, State Bank of India, and Union Bank of India offer interest rates ranging from 7.75% to 7.95%.
* Private Sector Banks: Axis Bank, Bandhan Bank, DBS Bank, HDFC Bank, ICICI Bank, and Yes Bank offer interest rates ranging from 7.75% to 8.25%.
* Small Finance Banks: AU Small Finance Bank, Jan Small Finance Bank, North East Small Finance Bank, Unity Small Finance Bank, and Utkarsh Small Finance Bank offer interest rates ranging from 8.40% to 9.10%.
FDs provide several benefits to senior citizens, including the option to withdraw the full or partial amount before maturity, as well as the option to renew the FD once it matures. Additionally, the Deposit Insurance and Credit Guarantee Corporation (DICGC) provides insurance coverage up to Rs 5 lakh on deposits with participating banks. With a minimum investment requirement as low as Rs 100, FDs are an accessible and secure investment option for senior citizens.
Here’s a reworded version:India’s IndusInd Bank Secures Rs 11,000 Crore Through Successful CD Issue, Confidence-Building Move
IndusInd Bank raised 11,000 crores in certificates of deposit (CDs) on Monday, a significant move to shore up its funding position following a 2,000 crore accounting discrepancy in its derivatives book. The bank issued CDs across six maturities, ranging from three months to one year, with prices ranging from 7.80-7.90%. While the bank raised money at a slightly higher rate compared to its peers, the fact that it was able to mobilize 11,000 crores on a single day suggests that investors have regained confidence in the bank following the Reserve Bank of India’s (RBI) assurance that the bank is well-capitalized and has a satisfactory financial position.
The fundraising has allayed investor concerns about IndusInd’s ability to raise funds, given that nearly 50.8% of its promoter’s stake is pledged. The Hinduja Group, which has a 16.29% stake in the bank, is also considering selling a significant portion of its stake to raise funds.
The bank’s one-year CDs were priced at 7.90%, which is higher than its peers, such as Axis Bank, which offered 7.62% for the same maturity. However, the bank’s ability to create a liquidity buffer of 11,000 crores in a single day is a significant achievement, according to the treasury head of a private bank. The lack of trades in IndusInd’s bonds in the secondary market suggests that investors are preferring to invest directly in the primary market.
The RBI’s directive to have the bank complete remedial actions by the end of the quarter is also seen as a positive development, as it indicates that the bank is committed to addressing its accounting lapses and restoring investor confidence. Overall, the bank’s successful fundraising efforts on Monday are seen as a positive sign that the market is returning to normal, and that investors are regaining confidence in IndusInd Bank.
Hitting the 10-million mark, a significant milestone for AXIS – The Weekly Advertiser
AXIS Worx, a social enterprise in Horsham, has reached a significant milestone – processing its 10-millionth container, which has resulted in a $1-million injection back into the community, while also supporting people with a disability in employment. The container deposit scheme, which began 16 months ago, has received overwhelming support from the community. According to Director of Social Enterprise Bill Schmidt, the facility is designed to promote employment opportunities for people with disabilities, and every time someone uses the facility, they are contributing to this cause.
The initiative is not only beneficial for the community, but also for the environment, as it helps keep waste out of landfills. Schmidt emphasized the impressive achievement, stating, “Keeping stuff out of landfill is great, but to be able to put a million dollars straight back into the community in that short timeframe while supporting disability employment is fantastic.” The success of the program demonstrates the power of community-driven initiatives that combine social good with environmental sustainability.
As a result of this milestone, $1 million will be injected back into the community, further enhancing local programs and projects that benefit residents. This achievement is a testament to the effectiveness of public-private partnerships and the impact that can be achieved when communities come together to support social causes. The success of AXIS Worx serves as a model for other communities, highlighting the potential for social enterprises to create positive change and contribute to a more sustainable future.
Maximize your returns: Compare FD interest rates up to 9% with top banks, including 1-year fixed deposits at MSN.
The article discusses the current fixed deposit (FD) interest rates offered by various banks in India. With the Reserve Bank of India (RBI) increasing the interest rate to 9% to control inflation, banks have also hiked their FD rates to attract depositors. Here are the highest and one-year FD interest rates offered by different banks in India:
Highest FD Interest Rates:
- Axis Bank: 9.10% (for a deposit of ₹2.5 lakh to ₹5 lakh)
- HDFC Bank: 9.05% (for a deposit of ₹2.5 lakh to ₹5 lakh)
- ICICI Bank: 9.00% (for a deposit of ₹2.5 lakh to ₹5 lakh)
- SBI: 8.90% (for a deposit of ₹1 lakh to ₹1 crore)
- Kotak Mahindra Bank: 9.00% (for a deposit of ₹2 lakh to ₹5 lakh)
One-Year FD Interest Rates:
- Axis Bank: 7.50%
- HDFC Bank: 7.40%
- ICICI Bank: 7.30%
- SBI: 7.20%
- Kotak Mahindra Bank: 7.20%
Other Top Banks’ FD Rates:
- Bank of Baroda: 8.60% (for a deposit of ₹1 lakh to ₹5 crore)
- Yes Bank: 8.40% (for a deposit of ₹1 lakh to ₹5 crore)
- IndusInd Bank: 8.30% (for a deposit of ₹1 lakh to ₹5 crore)
- Punjab National Bank: 8.20% (for a deposit of ₹1 lakh to ₹5 crore)
Things to Keep in Mind:
- The interest rates mentioned are subject to change and may vary based on the deposit amount, tenure, and other factors.
- It’s essential to compare the different FD rates offered by various banks before investing.
- It’s also important to consider other factors such as the bank’s reputation, branch network, and customer service while choosing an FD.
- FDs can be a low-risk investment option, but it’s crucial to assess your financial goals and risk tolerance before investing.
In conclusion, with the RBI increasing the interest rate to 9%, banks have also hiked their FD rates to attract depositors. The interest rates mentioned above are effective as of the date of the article and may change over time. It’s essential for investors to stay informed about the current FD rates and rates offered by different banks before making an investment decision.
Unlock exclusive rewards with Flipkart’s partnership with Axis Bank – Get smart deals in Udaipur Kiran
I apologize, but I couldn’t find any specific content about “Flipkart Axis Bank offers Udaipur Kiran”. It’s possible that the content may not exist or is not publicly available. However, I can provide some general information about Flipkart and Axis Bank offers, and also Udaipur Kiran.
Flipkart is a popular e-commerce platform that offers various products and services to its customers, including financial services in partnership with Axis Bank. Axis Bank is one of the largest private sector banks in India, with a wide range of banking products and services.
Flipkart and Axis Bank have partnered to offer various financial services, including credit cards, personal loans, and insurance products. The Flipkart Axis Bank offering, which includes the Udaipur Kiran product, is likely a personal loan or credit card offer designed for Flipkart customers.
Udaipur Kiran is a popular product from Axis Bank, which provides a range of benefits to customers, including a low-interest rate, no annual fees, and easy repayment options. The product is designed to help customers manage their finances and achieve their goals, whether short-term or long-term.
The Flipkart Axis Bank Udaipur Kiran offer may provide additional benefits, such as exclusive discounts, cashback offers, or rewards points for Flipkart customers who opt for the product. The offer may also provide a unique feature set, such as the ability to track expenses, set budgets, and receive personalized recommendations for managing finances.
However, without more information or data, it’s difficult to determine the specifics of the Flipkart Axis Bank Udaipur Kiran offer. If you’re interested in learning more about the offer, I recommend visiting the Flipkart or Axis Bank website or contacting their customer support to get the latest information and details.