Axis Bank on Tuesday said it has bought 5.55 per cent stake in financial technology firm IBBIC.

The bank has subscribed to 50,000 equity shares of face value of Rs 10 each fully paid up of IBBIC Private Ltd (IBBIC) for a consideration of Rs 10 per equity share constituting 5.55 per cent of the issued and paid up capital of IBBIC, Axis Bank said in a regulatory filing.

Karnataka Chief Minister B S Yediyurappa said he would resign today—the second anniversary of his government—as he spoke in the state assembly about his tenure

I will resign after lunch, he said in a tearful speech in which he talked about the trial by fire he had faced as chief minister.

India on Monday recorded 39,361 cases of Covid-19 and 416 deaths, the Ministry of Health and Family Welfare data showed.

The country now has 4,11,189 active cases and has witnessed a total of 4,20,967 deaths so far.

India’s digital learning pioneer Byju’s is buying professional training and higher education platform Great Learning for $600 million, accelerating an acquisition spree to expand globally.

The cash-and-stock purchase marks an entry to the higher education segment for Byju’s, the company said Monday in a statement.

The prices of 22-carat gold in India remained unchanged on Monday at Rs 46,870 per 10 gm. Silver made a gain of Rs 50 compared to yesterday's prices to stand at Rs 67,100 per kg, according to the website Good Returns.

Gold jewellery price varies across India, the second-largest consumer of the metal, due to excise duty, state taxes, and making charges.

Shares of SBI Cards and Payment Services (SBI Card) rose 4 per cent to Rs 991.95 on the BSE in Monday's intra-day trade on asset quality improvement in the June 2021 quarter (Q1FY22), with gross non-performing assets (GNPA) at 3.91 per cent as against 4.99 per cent in the March 2021 quarter (Q4FY21). Net NPA was down to 0.88 per cent from 1.15 per cent in Q4FY21. As of June 2020 (Q1FY21), GNPA and NNPA stood at 1.35 per cent and 0.43 per cent, respectively.

The Indian rupee depreciated 4 paise to 74.44 against the US dollar in opening trade on Monday, as investors are awaiting cues from the US Fed's policy decision, due this week.

At the interbank foreign exchange, the rupee opened at 74.43 against the dollar, then fell further to 74.44, registering a fall of 4 paise over its previous close.

The death toll from floods in Maharashtra and other rain-related incidents in the state has risen to 149 as Chief Minister Uddhav Thackeray on Sunday announced that various NDRF-style mechanisms will be set up in all affected districts. The toll increased after 36 bodies were found in Satara and Raigad districts.

Considering the repeated occurrence of these disasters, a system on the lines of the NDRF will be created in all the affected districts.

Since 1999, July 26 is celebrated as the Kargil Vijay Diwas to commemorate the victory of Operation Vijay. The operation was launched by the Indian Army to recapture the Indian territories from Pakistani intruders in the Kargil-Drass sector in 1999.

The anniversary is observed each year across the nation to show respect and gratitude to the brave servicemen of the armed forces who laid down their lives to re-capture all positions that had been seized by the Pakistan Army.

In view of the improved coronavirus situation, Delhi Metro services began running with full seating capacity from Monday, but there is still no provision for standing travel for commuters, officials said.

The Delhi Metro Rail Corporation (DMRC) till Sunday was running trains with 50 per cent seating capacity, after the services had resumed after a long hiatus on June 7.

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