Mumbai: Axis Bank has refused to comment on reports of resignation by two senior executives — deputy MD V Srinivasan and head of corporate and transaction banking Sidharth Rath — on grounds that they are speculative. The bank also did not comment on reports that it has hired S M Sundaresan, head of corporate banking at Standard Chartered, as head of corporate banking.

New Delhi: The department of telecommunications has written to all telecom and Internet service providers that it will not accept any bank guarantees by Axis Bank after the lender failed to invoke a bank guarantee issued by it on behalf of Aircel.

“Axis Bank has failed to invoke a bank guarantee issued by them on behalf of Aircel group of companies. This action by Axis Bank is a serious breach of trust and contract with the government of India.

Three companies under investigation by Indian securities regulators after their results were leaked on social media were told to consider internal audits and background checks for employees handling potentially stock-moving information, people familiar with the matter said.

The Securities & Exchange Board of India is seeking improved controls from Axis Bank, HDFC Bank and Tata Motors, whose quarterly results showed up on the messaging service of WhatsApp Inc.

India’s third largest private sector bank Axis Bank on Tuesday said it would soon be able to process payments over the popular chatting application ‘WhatsApp’.

The bank also termed the Unified Payment Interface (UPI) as a “huge opportunity”.

MUMBAI: The mumbai wing of the Serious Fraud Investigation Office has summoned ICICI Bank CEO Chanda Kochhar and Axis Bank CEO Shikha Sharma in the Rs 5,000 crore loan extended to Mehul Choksi’s Gitanjali Gems. The summons sent to both Kochhar and Sharma requests them to appear in person or send a representative.

The Rs 12,636 crore fraud at Punjab National Bank (PNB) is forcing Reserve Bank of India (RBI) to swing into action.

On Monday, the central bank revealed it has imposed penalties on two banks – Axis Bank for under-reporting non-performing assets (NPAs) and Chennai-based Indian Overseas Bank (IOB) for breach of know your customer (KYC) norms.

Private sector lender Axis Bank is looking at transferring some lumpy bad loans to stronger sponsors through NCLT resolution next year, as it follows a strategy of serving only the better-rated borrowers, a top official has said.

The bank is one of the worst-affected in the private sector after the Reserve Banks asset quality review, which led to a huge increase in bad loans over the past two years.

Axis Bank has raised its Marginal Cost of Funds based Lending Rates (MCLR) by ten basis points across the three and six month, one, two and three year categories with one-year MCLR now standing at 8.4 per cent.

The bank followed other private lenders like HDFC Bank and IndusInd Bank in increasing MCLR — indicating a trend.

Mumbai: Axis Bank on Thursday indicated that it no longer has any exposure to the Rs 11,400-crore fraud detected at PNB.

Responding to reports of undertaking buyer's credit transactions with PNB, Axis Bank said in the normal course of business, it carries out such transactions against letters of undertaking (LoUs) issued by other banks through its overseas branches.

Private sector Axis Bank today launched the fourth edition of ‘Evolve’, an annual multi-city knowledge series for Bank’s SME customers here. The current edition of evolve, titled “Transform your Family Business into your dream company”, will empower the SMEs understand the winning strategies and best practises that have helped some of the leading family businesses in India grow into reputable enterprise.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.