Axis Bank

  • Asset quality of banks deteriorating at frightening pace: Study May 14, 2014

    New Delhi: The asset quality in banks has deteriorated at a "frightening pace" during 2013-14 fiscal with public sector banks bearing the maximum brunt of bad loans, a RBI panel report has said. At the quarter ended December 2013, banks collectively held loan provisions of Rs 98,593 crore, an increase...
  • Government sells Axis Bank stake for over $900 million: sources March 21, 2014

    Mumbai: The government has raised more than $900 million by selling a 9 per cent stake in Axis Bank Ltd, two sources with direct knowledge of the development said on Friday. The government held 20.7 per cent in Axis Bank, India's third-largest private-sector bank by assets, via a trust fund called...
  • Sensex ends 67 points up to end at record close March 5, 2014

    Mumbai: The benchmark Sensex on Wednesday extended gains by rising 67 points to end near its record close on sustained buying driven by positive global cues. Thawing of Ukraine crisis and upbeat economic data from China helped domestic markets, said traders. After gaining 263.08 points in the previous session, the Sensex...
  • Sensex rises 66 points to end at 20,376.56 February 7, 2014

    Mumbai: The Sensex on Friday rose for the fourth straight day and ended 66 points up at one-week high levels led by gains in Tata Steel, Sun Pharma and Sesa Sterlite, amid volatility ahead of advance growth estimates for 2013/14. The index, which had gained 101 points in the previous three...
  • Sensex at record high of 21,337.67; pharma, metal shares gain January 22, 2014

    Mumbai: The BSE benchmark index Sensex on Wednesday closed at record high of 21,337.67 points gaining 86.55 points as buying emerged in pharma, metal and banking stocks on expectations of strong corporate earnings and rate cut by the Reserve Bank. The 30-share barometer, which rose for the third straight day, surpassed its...
  • Four Indians make to Fortune top 50 women business leaders October 20, 2013

    Four Indians led by ICICI Bank CEO Chanda Kochhar have made to Fortune magazine's global list of top-50 women business leaders, while PepsiCo chief Indra Nooyi has been ranked second in a similar list for the US. Kochhar has been ranked fourth, followed by National Stock Exchange chief Chitra Ramkrishna at...
  • Gang of robbers loot Rs 3.80 cr from cash delivery van in Thane August 28, 2013

    In an audacious daylight heist, a six-member gang robbed Rs 3.80 crore from a van, carrying cash to be delivered at an ATM kiosk, at Nalasopara in this district adjoining Mumbai on Wednesday, police said. The robbery took place around 3.30 pm near the ATM of Axis bank at Pathankar Park....
  • ICICI Bank raises base rate by 0.25 per cent to 10% August 22, 2013

    Mumbai: ICICI Bank, the country's largest private sector lender, on Thursday increased its lending rate by 0.25 per cent to 10 per cent with effect from Friday. The bank also effected a similar hike in its prime lending rates, which will be applicable to existing customers who are on the...
  • ATM skimming case: Police to seek information from Bulgaria June 27, 2013

    Mumbai: Police will be issuing a letter rogatory (LR) to the Bulgarian Government in connection with its probe into the ATM skimming case where cloned debit cards were used to withdraw money from 37 accounts. During its probe, police had identified two Bulgarians Evanov (27) and Tsenev (28), who fitted...
  • Axis ATM skimming case: Police identifies 2 Bulgarian nationals June 23, 2013

    Mumbai: Police have identified two Bulgarian nationals while scrutinising CCTV footage of the ATMs in Mumbai in the ATM skimming case where cloned debit cards were used to withdrawn money from 37 accounts. A total of 37 Axis bank accounts were hacked into and money was withdrawn from ATMs in Greece....
  • Private banks step up hiring; top-five add over 15,000 staff June 16, 2013

    Leading private sector lenders are in top gear when it comes to expanding their headcount and just five of them, including ICICI Bank and HDFC Bank, added more than 15,000 employees to their payrolls in the last fiscal. The expanded workforce also seems to be giving them rich dividends in terms...
  • Mumbai: Axis Bank reverses amount fraudulently withdrawn from accounts June 15, 2013

    Mumbai: Axis Bank has reversed the amount withdrawn fraudulently from 37 accounts, including 12 being operated by Mumbai policemen. The accounts had been hacked and Rs 16 lakh withdrawn fraudulently through ATMs in Greece. Axis Bank spokesperson said, "A small number of our customers' accounts (less than 50) have been impacted...
  • Salary accounts of Mumbai policemen hacked June 14, 2013

    Mumbai: The salary accounts of many Mumbai Police personnel have been hacked. The Mumbai Police has formed a team headed by a DCP to investigate the hacking of salary accounts. The bank has been asked to investigate and give a report to the team. The police are in the process of...
  • Cobrapost expose: RBI penalises Axis, HDFC, ICICI banks June 10, 2013

    Mumbai: Three private banks, caught in the Cobrapost sting operation, have been let off the hook with paltry penalties. The Reserve Bank of India on Monday imposed penalties on Axis, ICICI and HDFC banks after a sting operation by online magazine Cobrapost exposed many loopholes. RBI imposed a penalty of Rs...
  • Some truth in Cobrapost expose, will take action: RBI May 30, 2013

    Ahmedabad: There is "some truth" in Cobrapost's allegations of wrong doings by banks and RBI has issued notices to their managements, central bank Governor D Subbarao said on Thursday. "We have done study of those banks, investigated them ... We have done a larger study of those banks and we have...
  • I-T dept issues notices to ICICI, Axis, HDFC banks May 28, 2013

    New Delhi: Income Tax department has issued notices to three top private lenders in the country - ICICI Bank, Axis Bank and HDFC Bank - in connection with alleged money laundering charges levelled by online portal Cobrapost. The department has asked these banks to produce documents for verification as part of...
  • RBI probes Cobrapost report, reveals major violations by banks May 13, 2013

    New Delhi: The Reserve Bank of India is probing the Cobrapost sting operation on alleged money laundering by top banks. The RBI report has revealed major irregularities in top banks. The report shows string of violations on several counts. Sources say the RBI report reveals dummy PANs, unknown NRO IDs,...
  • Difficult to cut interest rates soon: Banks May 3, 2013

    Mumbai/ New Delhi: Big banks say it will be difficult for them to pass on the benefit to customers even though the Reserve Bank of India (RBI) cut repo rate by 25 basis points on Friday even though the cash reserve ratio was left untouched. The banks say RBI's move...
  • Fire at Axis Bank in Avinashi near Coimbatore, 4 dead April 25, 2013

    Coimbatore: A fire at Axis Bank in Avinashi near Coimbatore has left four people dead. All four dead were women employees of the bank. The bank was on the third floor and there was no emergency exit at the bank. The fire has been doused and the situation was brought under...
  • Investor pessimism in India overdone: Deutsche Bank March 25, 2013

    Mumbai: Deutsche Bank believes the recent investor pessimism in India is overdone and sticks to its BSE Sensex target of 22,500 by the end of December. Deutsche says the government may shift to executive decisions to pass its agenda, focusing on actions that do not require parliamentary approval, thus reducing...
  • Money laundering: RBI gives clean chit to private banks March 21, 2013

    New Delhi: Reserve Bank of India Deputy Governor KC Chakrabarty has given a clean chit to private banks named in the Cobrapost expose on money laundering. The Central bank said there was no systemic issue involved in the Cobrapost allegations. According to Chakrabarty, there were no irregularities in the way the...
  • Money laundering: 'RBI teams to audit banks' March 18, 2013

    New Delhi: In more trouble for the banks that were indicted in a recent Cobrapost expose, which caught some of the employees of HDFC, ICICI and Axis banks offering money laundering services, the Reserve Bank of India (RBI) has sent its teams to those branches of the banks for an...
  • Money laundering: Banks on a damage control spree March 16, 2013

    New Delhi: Private banks are in damage control mode after their employees were shown aiding money laundering in a sting operation by online magazine Cobrapost. While ICICI Bank has suspended 18 employees pending an investigation, HDFC Bank says it has ordered a probe by independent agencies on the expose. HDFC Bank...
  • I challenge the three bank heads to an open debate: Aniruddha Bahal March 15, 2013

    A sting operation conducted by online magazine Cobrapost across various branches of private banks has revealed how bank employees are accepting black money from customers to convert them into white money. Cobrapost Editor Anirudh Bahal has insisted that leading private banks like HDFC Bank, ICICI Bank and Axis Bank are...
  • Is it easy to launder black money through private banks? March 14, 2013

    A Cobrapost expose on Thursday revealed how employees at some private banks were brazenly carrying out money laundering operations. ...
  • Money laundering by banks: Have our regulatory public institutions failed? March 14, 2013

    Every rule laid down by the Reserve Bank of India has a possible loophole - that's what the bankers exposed by the Cobrapost sting claimed. ...
  • News 360: Cobrapost expose reveals brazen money laundering at banks March 14, 2013

    A sting operation conducted by Cobrapost across various branches of private financial institutions, including HDFC, ICICI and Axis banks showed how bank employees were helping customers convert black money into white. ...
  • Money laundering by banks: Finance Minister should resign, says Kejriwal March 14, 2013

    A sting operation by Cobrapost revealed how employees at some private banks were involved in money laundering operations. ...
  • Money laundering by banks: CBDT orders probe into Cobrapost expose March 14, 2013

    New Delhi: The Central Board of Direct Taxes (CBDT) on Thursday ordered a probe into the expose done by online magazine Cobrapost that revealed employees of private banks involved in money laundering operations. The sting operation conducted across various branches of private financial institutions like HDFC, ICICI and Axis banks...
  • RBI suspects banks violating KYC norms, orders probe March 14, 2013

    New Delhi: The Reserve Bank of India (RBI) suspects some banks are involved in KYC violations, sources said. The RBI has sent showcause notice to one bank and a probe is on in the NCR region. The probe comes after online magazine Cobrapost's sting operation on private banks shows brazen money...