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.
About Axis bank
Axis Bank is a prominent Indian multinational banking and financial services company that has emerged as a significant player in the Indian banking landscape. Founded in 1993, the bank has transformed from a small financial institution to one of India’s most dynamic and innovative private sector banks.
Founding and Early Years
Axis Bank was originally established as UTI Bank in 1993, promoted by a consortium of prominent financial institutions including the Specified Undertaking of Unit Trust of India, Life Insurance Corporation of India, General Insurance Corporation of India, and several national insurance companies. The bank officially began operations in 1994, marking the beginning of its journey in the Indian banking sector. In a significant rebranding move, the bank changed its name from UTI Bank to Axis Bank on July 30, 2007, signaling a new phase of growth and expansion.
Organizational Structure and Leadership
The bank is led by N.S. Vishwanathan as Chairman and Amitabh Chaudhry as Managing Director and CEO, who took office on January 1, 2019. Its ownership structure reflects a diverse investment profile, with promoters and the promoter group holding approximately 30.81% of shares, while other investors including mutual funds, foreign institutional investors, and banks comprise the remaining 69.19%.
Business Operations and Reach
Axis Bank has developed an impressive national and international presence. Domestically, the bank operates through 4,903 branches, including extension counters, and maintains 15,953 ATMs and cash recyclers. The bank has also established six virtual centers and deployed over 1,500 virtual relationship managers to enhance customer service. Internationally, Axis Bank has expanded its footprint with nine international offices located in strategic financial centers such as Singapore, Hong Kong, Dubai, Shanghai, and Colombo. The bank has also set a unique record by operating the world’s highest ATM at Thegu, Sikkim, situated at an remarkable altitude of 4,023 meters above sea level.
Business Segments and Services
The bank offers a comprehensive range of financial services across multiple segments. Its corporate banking division provides sophisticated services including transaction banking, trade finance, capital market services, foreign exchange solutions, and cross-border trade services. Through its investment banking subsidiary, Axis Capital Limited, the bank delivers equity capital market services, institutional stock brokering, and mergers and acquisitions advisory. Axis Bank has also developed a strong wealth management platform, particularly targeting high-net-worth individuals through its Privee platform. This diversified approach allows the bank to cater to various customer segments with tailored financial solutions.
Strategic Growth and Acquisitions
Over the years, Axis Bank has pursued strategic growth through significant acquisitions. In 2010, it acquired the investment banking and equities units of Enam Securities, and in 2013, launched its UK subsidiary. A particularly notable recent achievement was the acquisition of Citibank India’s consumer business in 2022-2023, which substantially strengthened its retail banking franchise.
Corporate Governance and Vision
Axis Bank’s corporate philosophy centers on customer-centric solutions, technological innovation, sustainable growth, and comprehensive financial services through its “One Axis” approach. The bank remains committed to ethical and transparent operations while continuously adapting to technological changes and evolving customer needs. As a dynamic force in Indian banking, Axis Bank continues to position itself as a forward-looking, innovative financial institution dedicated to delivering exceptional value to its customers, shareholders, and the broader financial ecosystem.
Latest News on Axis Bank
Here’s a rewritten version of the headline:Axis Bank and Actress Shefali Shah Slam Vapid ‘Women’s Day’ Marketing Schemes – Exchange4Media
Here is a summary of the content in 400 words: On International Women's Day, Axis Bank and actress Shefali Shah have joined forces to call out hollow gestures made towards women. In a unique partnership, they have launched a campaign that encourages people to move...
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...
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...
FD interest rate hits 9%! Check the highest interest rates and one-year yields on fixed deposits of these banks with MSN.
Federal Bank of India (RBI) has revised the interest rates on fixed deposits (FDs) to control inflation and stabilize the economy. Multiple banks have responded by revising their FD interest rates, offering higher returns to customers. Here's a summary of the highest...
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...
Stock Market Updates for Axis Bank
Recent Updates
Unlock the highest FD rates: Find the top interest rates, up to 9%, and one-year fixed deposit offers from these banks – MSN
Ahead of the Reserve Bank of India’s (RBI) decision to hike the repo rate, several banks have raised their fixed deposit (FD) interest rates to attract deposits. Here’s a summary of the highest interest rates offered by top banks in India:
Highest FD Interest Rates in India:
- Bank of Baroda: 8.50% (1 year), 8.70% (2 years), 8.90% (3 years)
- Punjab National Bank: 8.50% (1 year), 8.75% (2 years), 9.00% (3 years)
- State Bank of India (SBI): 8.35% (1 year), 8.60% (2 years), 9.00% (3 years)
- Canara Bank: 8.40% (1 year), 8.65% (2 years), 9.00% (3 years)
- ICICI Bank: 8.30% (1 year), 8.65% (2 years), 8.90% (3 years)
- HDFC Bank: 8.25% (1 year), 8.60% (2 years), 9.00% (3 years)
- Kotak Mahindra Bank: 8.30% (1 year), 8.65% (2 years), 9.00% (3 years)
- Axis Bank: 8.20% (1 year), 8.60% (2 years), 9.00% (3 years)
Key Takeaways:
- The highest FD interest rate is offered by Bank of Baroda at 8.90% for a 3-year tenure.
- Canara Bank and Punjab National Bank offer the highest interest rate for a 2-year tenure at 9.00%.
- State Bank of India (SBI) and Kotak Mahindra Bank offer the highest interest rate for a 1-year tenure at 8.60%.
- Interest rates vary depending on the bank, tenure, and deposit amount.
- It is essential to compare FD rates before investing to get the best returns.
Rises in FD interest rates are usually linked to changes in Repo Rates. The RBI increased the Repo Rate by 40 basis points to 4.00% on June 6, 2023, which has led to a hike in FD rates. As a result, investors can now earn higher returns on their deposits. However, it’s crucial to assess the suitability of FDs compared to other investment options, considering factors such as liquidity, tax implications, and inflation.
Denton’s Link Legal Advises Axis Bank on Historic Aircraft Financing Deal, Pioneering India’s First GIFT City Transaction with an Indian Bank.
Here is a 400-word summary of the content:
Dentons, a global law firm, has advised Axis Bank, one of India’s leading private sector banks, on the country’s first aircraft financing transaction under the Gujarat International Finance Tec-City (GIFT) framework. The GIFT City framework is a Special Economic Zone (SEZ) located in Gujarat, India, which offers various benefits such as easier registration, tax incentives, and relaxed regulations to induce foreign investment.
Under this framework, Axis Bank has provided a loan of approximately INR 430 crores (approximately USD 58 million) to Air India, the state-owned airline, to finance the acquisition of a new aircraft. This transaction marks a significant milestone in India’s aviation industry, as it is the first instance where an Indian bank has provided financing to an Indian airline under the GIFT City framework.
The GIFT City framework was established to promote international trade and investment in the region by providing a favorable business environment. The framework allows foreign companies to operate in India with greater ease, including in sectors such as finance, aviation, and logistics.
Dentons’ lawyers worked closely with Axis Bank to navigate the complex regulatory landscape and successfully closed the transaction, which involved obtaining necessary regulatory approvals from various authorities, including the Reserve Bank of India and the Securities and Exchange Board of India. The team advised on the structuring of the transaction, including the documentation and due diligence process, and ensured compliance with applicable laws and regulations.
This deal is a significant achievement for Dentons, which has a strong presence in India and Asia, and further solidifies the firm’s reputation as a leading advisor in the Indian financial sector. The success of this transaction demonstrates Dentons’ deep understanding of the complex regulatory environment in India and its ability to deliver complex deals under challenging conditions.
In a statement, Ashish Jha, Intellectual Property and Technology Practice Head for Dentons India, said, “We are thrilled to have advised Axis Bank on this significant transaction, which marks a new milestone in India’s aircraft financing landscape. Our team’s expertise in aviation finance and experience in navigating India’s regulatory landscape enabled us to deliver a successful outcome for our client.”
Axis AMC announces the appointment of Nandik Mallik as the new Head of Equity and Hybrid Funds for its forthcoming Scheduled International Funds (SIFs).
Axis Asset Management Company (Axis AMC) has announced the proposed appointment of Nandik Mallik as the Head of Equity and Hybrid for its Specialised Investment Funds (SIFs). Mr. Mallik is a seasoned financial services professional with over 20 years of experience, with a strong background in asset management. He has a proven track record of managing large assets under management across various risk-adjusted funds, and has successfully launched several innovative products, including the Long Short Fund at ICICI Prudential AMC.
As the new Head of Equity and Hybrid for Axis AMC’s SIFs, Nandik will lead the company’s efforts in this new and emerging product category. He brings a deep understanding of the derivatives market and will be responsible for growing Axis AMC’s equity and hybrid offerings in the SIFs space, pending regulatory approval.
Axis AMC’s MD and CEO, B Gopkumar, welcomed Nandik’s appointment, citing his strategic vision, practical experience, and market knowledge as key factors in driving the company’s growth in the SIFs space. He noted that Nandik’s expertise in derivatives will be a valuable asset for the company.
Nandik holds a BTech degree from IIT, Kharagpur, a PGDM in Finance from IIM, Calcutta, and a Master’s degree in Finance from London Business School. With his extensive experience and expertise, Axis AMC is well-positioned to capitalize on the growth opportunities in the SIFs space and provide innovative solutions to its investors.
Interest Rates Compared: A Comparative Analysis of Top Banks – SBI, BoB, PNB, Canara and More
The article discusses the various options for investing in India, with a focus on Fixed Deposits (FDs) in major banks. The article provides an overview of the interest rates offered by six banks – State Bank of India (SBI), Bank of Baroda (BoB), Punjab National Bank (PNB), Canara Bank, ICICI Bank, and HDFC Bank – for FDs of 1 year, 3 years, and 5 years, as well as the estimated returns on an investment of Rs 20 lakh.
The interest rates offered by these banks range from 7.00% to 7.90%, depending on the tenure of the FD. For a 1-year FD, SBI and BoB offer 7.30% interest, while Canara Bank and ICICI Bank offer 7.20%. For a 3-year FD, Canara Bank offers the highest interest rate of 7.90%, while SBI and PNB offer 7.50%. For a 5-year FD, Axis Bank offers the highest interest rate of 7.75%, while HDFC Bank and ICICI Bank offer 7.50%.
According to the article, if you invest Rs 20 lakh in SBI for 1 year, you can get a return of Rs 21,50,046, which is 7.30% of the principal amount. Similarly, an investment in Canara Bank for 3 years can fetch a return of Rs 25,29,033, which is 7.90% of the principal amount. For a 5-year FD, Axis Bank offers the highest return of Rs 29,35,686, which is 7.75% of the principal amount.
Overall, the article suggests that FDs in major Indian banks can be a good option for investors seeking a relatively safe and stable return on their investment. It is worth noting that the interest rates offered by banks are subject to change, and investors should check the current interest rates and other terms and conditions before investing.
Axis Bank ATMs out of order! Find out the reason behind the disruption and when service will be restored
A severe shortage of cash in ATMs has caused inconvenience to thousands of Axis Bank customers in Bhubaneswar, leading to a daily struggle to withdraw cash. The situation arose due to a dispute with the company responsible for replenishing cash, “Secure Group”, who halted their services due to non-payment of salaries. As a result, ATM withdrawals have been disrupted, causing frustration among customers, especially those reliant on cash transactions for daily needs. Many have taken to social media to express their disappointment, questioning why the issue wasn’t addressed earlier.
Small business owners, traders, and daily wage earners have been severely impacted, as they rely heavily on cash transactions. The shortage has led to long queues in front of ATMs, with many customers returning home empty-handed. Officials from various Axis Bank branches have assured that the problem is being addressed and that normalcy will return within the next two to three days. However, until then, customers are forced to navigate the erratic situation, which has disrupted their daily lives. The widespread shortage of cash has highlighted the importance of reliable cash management services, and the need for banks to ensure that such issues are addressed promptly to minimize disruptions to their customers.
Indian Bond Yields Show Resilience Despite Lower US Peers, Supply Constraints Weigh In – March 4, 2025, 6:34 am EST
Indian bond yields have remained stable despite a decline in US Treasury yields, as the supply of Indian government securities outweighed demand. According to market sources, the yield on the 10-year government bond (oil) remained steady at 6.45% on Friday, March 4, 2023, as the Indian government issued a higher-than-expected amount of new debt to meet its fiscal deficit target.
Indian bond yields have been less affected by the recent decline in US Treasury yields, which fell by 2-3 basis points to around 1.7% in the 10-year and 2-year segments. This is because the Indian government’s supply of government securities has increased significantly, resulting in a supply glut that has kept yields firm.
According to data from the Indian central bank, the government issued around 1.3 trillion rupees (approximately $18 billion) in new debt in the February-March quarter, exceeding market expectations. This has put pressure on bond prices, causing yields to stay high.
Analysts attributed the stability in Indian bond yields to the supply dynamics, citing the overshooting of the government’s bond issuance plan. “The oversupply has absorbed the decline in global yields, keeping Indian bond yields steady,” said analysts at Kotak Mahindra Capital Co. “The market is factoring in the high supply, which is more important than the global developments in this case.”
The Indian government has been raising funds to meet its fiscal deficit target of 4.5% of GDP, which is a significant portion of the country’s annual budget. The government’s fiscal discipline efforts have been under scrutiny, and the recent bond issuance has been seen as a step to meet these targets.
In the short to medium term, Indian bonds are expected to continue to be influenced by supply and demand dynamics, analysts said. “The government’s supply will continue to be a key driver of yields, and the market will need to find a balance between supply and demand,” added analysts at Axis Capital.
In the long term, Indian bond yields are expected to be influenced by inflation, economic growth, and the global economy. As India’s economy grows, the demand for bonds is expected to increase, which could lead to a decline in yields. However, the upcoming general elections and the party formation of the future government will also be important factors to watch.
Axis Max Life Insurance and YES BANK mark 20 years of successful bancassurance partnership.
Axis Max Life Insurance and YES BANK are celebrating 20 years of partnership in bancassurance, which has transformed the way insurance is sold and distributed in India. The partnership was started on February 23, 2005, and the first insurance policy was issued on May 28, 2005. Since then, the partnership has served around 3.62 lakh customers, processed over 3,725 claims, and disbursed more than Rs 267 crore in claims, with a total sum assured of over Rs 64,000 crore.
The partnership has been driven by YES BANK’s nationwide presence through its 1,266 branches and Axis Max Life Insurance’s strong digital capabilities, customer focus, and commitment to excellence. The two organizations have been working towards creating a seamless and customer-centric experience through digital innovation, expanding business horizons, and empowering employees.
The partnership has also led to the development of innovative products and services, such as InsurePro CRM, a marketplace for all life, non-life, and health insurance partners, and mSmart, a cutting-edge governance and tracking platform. These platforms have sharpened sales strategies and enhanced customer engagement.
Dr. Rajan Pental, Executive Director of YES BANK, and Prashant Tripathy, Managing Director and CEO of Axis Max Life Insurance, have reaffirmed their commitment to delivering exceptional value to customers and stakeholders through their continued partnership. The future of the partnership will focus on innovation, customer-centricity, and strengthening the bancassurance model to create exceptional value for customers.
Axis Nifty AAA Bond Financial Services March 2028 Index Fund: Mutual Fund Overview and Performance Report on Moneycontrol
The Axis Nifty AAA Bond Index Fund is an open-ended index fund offered by Axis Mutual Fund, a leading asset management company in India. The fund’s primary objective is to track the performance of the Nifty AAA 10-Year Bond Index, which comprises a basket of high-rated bonds with a tenor of one to 10 years.
The fund’s investment strategy is to track the Nifty AAA 10-Year Bond Index, aiming to provide steady returns with moderate risk. The underlying index includes government securities, treasury bills, and corporate bonds with high credit quality, ensuring a relatively low credit risk. The fund’s portfolio is rebalanced semi-annually to ensure that it remains aligned with the Nifty AAA 10-Year Bond Index.
The performance of the Axis Nifty AAA Bond Index Fund has been impressive, with a 1-year return of 7.15% as of March 2022. The 3-year and 5-year returns are 7.45% and 7.31%, respectively. The fund’s NAV (Net Asset Value) has been steadily increasing over the years, indicating a strong performance.
The fund’s key characteristics are:
* Investment objective: To track the performance of the Nifty AAA 10-Year Bond Index
* Asset allocation: The fund invests in high-rated bonds with a tenor of one to 10 years
* Risk level: Moderate
* Benchmark: Nifty AAA 10-Year Bond Index
* Investment strategy: Track the index, with semi-annual portfolio rebalancing
The Axis Nifty AAA Bond Index Fund is suitable for investors seeking a relatively low-risk investment option, particularly corporate and government employees, retirees, and individuals with a low-risk appetite. The fund’s moderate returns and steady performance make it an attractive option for those looking to preserve their capital and generate regular income.
Overall, the Axis Nifty AAA Bond Index Fund is a reliable choice for investors seeking a low-risk, stable, and inflation-beating returns, making it an excellent addition to a balanced investment portfolio.
The Reserve Bank and the Central Bank have cooperatively reduced home loan interest rates to an unprecedented low of 8.10%, a benchmark among all major banks.
After the Reserve Bank of India’s recent repo rate cut, two banks, Union Bank of India and Central Bank of India, have lowered their home loan interest rates to 8.10%, making them the most competitive in terms of rates. Here’s a comparison of monthly EMIs for a Rs. 1 lakh home loan over 20 years:
* Union Bank of India and Central Bank of India: 8.10%, approximately Rs. 843 per month
* Bank of Baroda, Canara Bank, and Punjab National Bank: 8.15%, approximately Rs. 846 per month
* State Bank of India: 8.25%, approximately Rs. 852 per month
* Bank of India: 8.30%, approximately Rs. 855 per month
* IDBI Bank: 8.50%, approximately Rs. 868 per month
* Axis Bank, HDFC Bank, ICICI Bank, and Kotak Mahindra Bank: 8.75%, approximately Rs. 884 per month
* Yes Bank: 9%, approximately Rs. 900 per month
Three key considerations for borrowing a home loan are:
* Prepayment penalties: Check the bank’s policy on early repayment, as some banks charge penalties for paying off loans early.
* Monitor your CIBIL score: A good credit score (700 or above) is crucial for loan approvals and can help you secure better loan terms.
* Keep an eye on offers: Banks occasionally roll out new offers, so research and compare to secure the best deal.
Borrowers should consider these factors to make an informed decision and take advantage of the reduced home loan rates offered by these banks.
Axis Bank is considering selling a majority stake in its $1 billion shadow banking unit, a move that could shake up the financial sector.
Axis Bank, a private sector lender in India, is considering options for its subsidiary, Axis Finance Ltd., including the potential sale of a majority stake. According to sources, the bank is working with an advisor on a strategic review and is seeking a valuation of $900-1 billion for the shadow-banking unit. However, it’s also possible that the bank may decide not to proceed with the sale.
Axis Finance is a wholly-owned subsidiary of Axis Bank, providing services such as corporate and collateral loans, and real estate financing. The company has received equity infusions from its parent bank, including a recent infusion of ₹300 crore in fiscal year 2024. Axis Bank has also provided backup funding lines and operational oversight to support Axis Finance’s growth.
As a shadow bank, Axis Finance targets customers who have limited or no access to traditional banking services due to low income or lack of credit history. While these lenders can provide important financial services to underserved populations, they can also be vulnerable to defaults and stress points for the wider financial system due to the higher interest rates they charge.
The development comes as banks in India face increasing competition from non-traditional financial institutions, and large private sector lenders are looking to adapt to the changing environment. While the sale of a majority stake in Axis Finance could be a strategic move to reduce the bank’s exposure to the shadow banking sector, it remains to be seen how the deliberations unfold. A representative for Axis Bank did not respond to requests for comment.
Comparing FD Interest Rates: SBI, PNB, and other Top Indian Banks – Get Latest Rates and Offers
A Fixed Deposit (FD) is a type of investment where an individual makes a one-time, lump-sum investment with a bank for a predetermined duration. In return, the individual earns interest on the deposited amount at a predetermined rate, set at the time the account is opened. With FDs, investors can earn a fixed rate of return on their investment, which can be a secure and attractive option for those seeking relatively low-risk investments. The interest rate offered by banks on FDs can vary, making it essential for investors to compare rates before making an investment.
In India, several top banks offer FDs with varying interest rates. As of [current year], the interest rates offered by top Indian banks for a one-year FD are as follows:
* State Bank of India (SBI): 5.30% to 5.50%
* HDFC Bank: 5.50% to 5.70%
* Axis Bank: 5.20% to 5.40%
* ICICI Bank: 5.40% to 5.60%
* Kotak Mahindra Bank: 5.50% to 5.70%
It is essential to note that FD interest rates can be affected by various factors, including the deposit amount, tenure, and interest rate changes. Investors can maximize their returns by comparing the interest rates offered by different banks and choosing the one that best suits their financial goals and risk appetite.
In general, FDs can be an attractive option for individuals who:
* Want a low-risk investment
* Are willing to commit the funds for a specific period
* Need a regular income stream
* Are seeking a predictable rate of return
However, investors should also consider the risks associated with FDs, such as:
* Market fluctuations
* Inflation
* Repayment of deposits before maturity
* Compounding of interest
Ultimately, FDs can be a good option for those who are looking for a stable, low-risk investment with a relatively fixed return. By comparing interest rates and considering the pros and cons, investors can make an informed decision about whether an FD is suitable for their financial goals.
Six major banks are currently offering home loan interest rates ranging from 8.1% to 8.15%.
The Reserve Bank of India (RBI) recently reduced the repo rate by 25 basis points to 6.25%, which is expected to ease the burden on home loan borrowers. As a result, banks are passing on the rate-cut benefit to their customers. State Bank of India (SBI) has been the first major bank to do so, reducing its floating rate home loan interest rates by 0.25% to 8.25%. This makes SBI’s home loan rates cheaper than many private sector lenders, such as HDFC and ICICI Bank. However, other public sector banks, including Union Bank of India, Central Bank of India, Bank of Baroda, Punjab National Bank, Canara Bank, and Indian Bank, are offering even cheaper rates, starting at 8.1% per annum. In contrast, private sector lenders like HDFC Bank, Axis Bank, Kotak Mahindra Bank, and ICICI Bank are offering home loans starting at 8.75% per annum. It’s important to note that final home loan rates offered by lenders vary based on individual credit scores. With all lenders expected to pass on the repo rate cut benefit to customers by the next interest reset cycle, home loan borrowers may see further reductions in interest rates.
Private banks reduce their CD (cash reserve) ratios in response to a strain in liquidity – Banking & Finance News
Private banks in India have been reducing their credit-deposit (CD) ratios in recent quarters as they prioritize deposit growth over advances amidst tight liquidity conditions. The average CD ratio, also known as the loan-to-deposit ratio (LDR), has decreased to 90.74% in the December quarter of the current financial year, down from 94.4% in the same period a year ago. Private sector banks, such as HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank, Yes Bank, and IDFC First Bank, have all seen a year-on-year decline in their CD ratios.
HDFC Bank, the largest private lender, has seen a significant decline in its CD ratio to 98.2%, down from 110.5% in the same quarter a year ago. The bank is aiming to bring its CD ratio back to pre-merger levels with HDFC Ltd. IDFC First Bank, Yes Bank, and RBL Bank have also seen significant declines in their CD ratios.
Private banks have been aggressively expanding their loan portfolios, but with deposit growth slowing, they are now prioritizing building a stronger deposit base and scaling back loan growth. Banks are also intensifying their efforts to enhance their liability franchises by offering higher rates on term deposits and sourcing funds through certificates of deposit, albeit at a higher cost.
The CD ratio is a key metric that indicates a bank’s liquidity and credit risk. A high CD ratio can pose liquidity and credit risk for a lender. The Reserve Bank of India has expressed concerns about high LDRs and has asked lenders to narrow the gap between credit and deposit growth. With deposit competition remaining aggressive, banks are working to improve their CD ratios to align with regulatory expectations and reduce their reliance on borrowings, which can increase funding costs and compress net interest margins.
Axis Bank Organizes Seminar for Small and Medium-Sized Entrepreneurs
The 9th edition of Axis Bank’s flagship knowledge-sharing seminar, “Evolve,” was held in Hyderabad, bringing together over 100 entrepreneurs from small and medium enterprises (SMEs). The one-day event focused on “Future-proofing MSMEs for new-age business” and highlighted the importance of innovation, digital transformation, and operational resilience in the evolving business landscape. The seminar provided entrepreneurs with practical solutions to streamline operations, enhance competitiveness, and expand their market presence.
Axis Bank’s Executive Director, Munish Sharda, emphasized the significance of SMEs, which drive nearly a third of India’s GDP and provide employment to millions. He noted that the seminar aimed to create an ecosystem where businesses can leverage cutting-edge innovations, collaborate with industry leaders, and adapt to the changing global marketplace.
The seminar featured a panel discussion moderated by Saurab Vadhera, Director of Small Business Banking, which included insights from industry experts such as Srinivasa Reddy, Managing Director of Suvarna Durga Group, Gaurav Soni, Founder and Managing Director of Botanic Healthcare Pvt Ltd, and Sridhar Gadhi, Founder and Group CEO of Paradigm Group and Quantela Inc.
The event addressed topics such as digital transformation, operational efficiency, and new-age business strategies. Axis Bank officials provided real-world insights and solutions to help entrepreneurs improve their competitive edge. The seminar aimed to equip MSMEs with the necessary tools and expertise to navigate the complex business landscape and thrive in today’s fast-paced environment.
RBI urges banks to maintain normal business operations for government transactions
The Reserve Bank of India (RBI) has issued an advisory to all banks handling government transactions, instructing them to remain open on March 31, 2025, a public holiday, to ensure that government transactions are completed. The move is aimed at ensuring that all government receipts and payments are accounted for in the financial year 2024-25.
The advisory specifically applies to “Agency Banks” which handle government business, and includes 33 banks such as Bank of Baroda, Canara Bank, State Bank of India, Central Bank of India, Axis Bank, HDFC Bank, ICICI Bank, Federal Bank, Yes Bank, Dhanlaxmi Bank, and IndusInd Bank among others. The RBI has asked Agency Banks to publicize the availability of these banking services on March 31, 2025, so that customers are aware and can complete their financial transactions without confusion.
The RBI’s decision comes at the request of the government, which is keen to ensure that all government transactions are recorded in the relevant financial year. The advisory aims to prevent any disruption in government transactions and ensure that the financial year 2024-25 is closed with all transactions accounted for. With this move, the RBI is providing an additional day for banks to handle government transactions, allowing them to remain open on a public holiday.
The advisory emphasizes the importance of completing government transactions on March 31, 2025, to avoid any inconvenience or disruption. It is crucial for Indians to be aware of this development and plan accordingly to complete their financial transactions without any hassle.
The Bank of Maharashtra has announced plans to issue bonds, with market insiders citing interest from several financial institutions, according to reports from TradingView News.
India’s Bank of Maharashtra, a state-run lender, has accepted bids worth 16.12 billion rupees ($185.7 million) for its infrastructure bonds maturing in 10 years. The bonds will pay an annual coupon of 7.70% to the investors. The bank received coupon and commitment bids from investors earlier in the day. The news was reported by three bankers.
The Bank of Maharashtra is not the only one to issue infrastructure bonds this day. Power Finance Corporation (PFC) has also invited bids for two issues – one with a tenure of 3 years and 2 months with a coupon of 7.42%, and another with a tenure of 6 years and 11 months with a coupon of 7.38%. Both issues have high ratings from rating agencies such as Crisil, Care, and Icra.
In addition to these bank issuances, Axis Max Life Insurance has also issued 10-year bonds with a coupon of 8.34%. Tata Steel has issued 5-year bonds with a coupon of 7.65%, which have been rated AAA by India Ratings.
It is worth noting that the Bank of Maharashtra did not respond to a Reuters email seeking comments. The bank’s infrastructure bonds are considered to be high-yielding, which may attract investors seeking stable returns from the Indian bond market. The country’s bond market has been influenced by recent moves by the Reserve Bank of India to ease borrowing costs, making it attractive for investors to participate in the market.
Axis Bank awards a grant of ₹104 crore to Ashoka University for research initiatives.
Axis Bank has donated a four-year CSR grant of ₹104 crore to Ashoka University to support interdisciplinary research and promote cutting-edge scientific inquiry. The Memorandum of Understanding (MoU) aims to create an ecosystem of excellence in research and interdisciplinary education by investing in PhD and Post-Doctoral programs, as well as setting up shared advanced science laboratories equipped with cutting-edge tools for research in Neurosciences, Behavioural Studies, and Physics.
The goal of the partnership is to enable a deeper understanding of critical global issues such as climate change, public health, and economic sustainability, and to drive the discovery of transformative solutions to these problems. The establishment of research facilities will facilitate interdisciplinary collaboration and knowledge sharing, leading to groundbreaking research and innovation.
The grant will support the development of research research centers, fellowships, and scholarships, as well as the creation of innovative teaching methods and curriculum development. The partnership is expected to have a significant impact on the academic and research community, and will help to build a talented pool of researchers and students who are equipped to address the complex challenges facing society today.
Ashoka University is known for its commitment to interdisciplinary learning and research, and this partnership with Axis Bank is a significant step towards further enhancing its research capabilities and reputation. The grant will also help to promote public-private partnerships in research, which is essential for driving innovation and economic growth. Overall, the partnership is expected to have a lasting impact on the academy, industry, and society, and will help to shape the future of research and innovation in India.
Axis Bank commits ₹104 crore grant to Ashoka University to fuel its research initiatives
Axis Bank, one of India’s leading private sector banks, has made a significant move in the world of education by providing a grant worth ₹104 crore (approximately $13.7 million) to Ashoka University, a leading liberal arts and sciences university in India. This grant is aimed at supporting research initiatives in various areas, including biotechnology, physics, and computer science.
As part of its efforts to foster innovation and promote academic excellence, Axis Bank has established the “Axis Bank-FACULTY of Ashoka University”, a collaborative research initiative that will provide financial support to world-class faculty to conduct research in various cutting-edge fields. The grant will also enable Ashoka University to establish new research centers and programs, providing a platform for interdisciplinary research and education.
The partnership is designed to facilitate collaboration between academia and industry, with Axis Bank’s grant serving as a catalyst for innovative research projects. The initiative is expected to benefit not only the students and faculty of Ashoka University but also the broader research community in India.
The grant is a significant boost to Ashoka University’s academic pursuits, which have gained international recognition in recent years. The university has consistently been ranked among the top universities in the country, and this grant is expected to further solidify its position as a hub for research and learning.
The partnership is also expected to foster a talent pool of high-caliber researchers, officials from Axis Bank stated. “We believe that this partnership has the potential to create a lasting impact on the Indian research ecosystem,” said J Prime Vice President of Axis Bank. “We are committed to supporting innovative research initiatives that can benefit society in meaningful ways.”
The grant will be used to fund research projects, establish new research centers, and support faculty development, enabling the university to make a meaningful difference in the world. The partnership is seen as a major milestone in the growth and recognition of Ashoka University, and it is likely to create a robust ecosystem for research and innovation in the country.
Overall, the Axis Bank-Ashoka University partnership is a testament to the power of collaboration and the potential for innovative financing solutions to drive positive social impact. By supporting research and innovation, Axis Bank and Ashoka University are working together to shape the future of higher education in India.