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Banking

Axis Bank extends its USD 200 million U.S. Commercial Paper Program by one year

by NR INDRAN / INT MUMBAI — Axis Bank Limited acting through its Dubai International Financial Centre Branch has extended its USD 200 million US Commercial Paper Program by one year. The Programme was initially setup on October 4, 2010 and now the new maturity date is September 30, 2012. The Program has been assigned […]

Banking

SBI system crashes; branches to remain open on Gandhi Jyanti

All branches of the State Bank of India, SBI are open today despite a national holiday on account of Gandhi Jayanti. According to an official release, the step has been taken to make up for the loss of working hours yesterday when the banking operations were severely hit due to system failure. SBI in a […]

Banking

Axis Bank expands network in Mumbai, opens 100th branch at Pali Hill, Bandra

by NR INDRAN / INT Mumbai : Axis Bank, India’s third largest private sector Bank, expanded its network of branches in Mumbai to 100 with the opening of its Pali Hill, Bandra Branch on Nargis Dutt Road. Axis Bank’s all India footprint now has 1435 branches. The Pali Hill, Bandra Branch was inaugurated by its […]

Banking

Axis Bank launches MyDesign Card

by NR INDRAN / INT Mumbai : Axis Bank, India’s third largest private Bank today announced the launch of MyDesign Card, India’s first Debit Card launched by an Indian bank which allows the customer to incorporate a personal image of his/her choice on the Debit Card. Axis Bank is one of the largest issuers of […]

Banking

Axis Bank Board Approves Axis-Enam Scheme

by NR INDRAN / INT The Board of Axis Bank at its meeting held today, considered and unanimously approved the transfer of the financial services business of Enam Securities Private Limited (Enam) in the following manner: I) The Enam financial services business will be demerged from Enam into the Bank by way of the Demerger […]

Banking

RBI raises key rates by 25 bps; auto, home, auto loan EMIs to go up

Concerned over high inflation, the Reserve Bank on Friday raised key interest rates by 25 basis points, its 12th such hike since March, 2010, making auto, home and other loans more expensive. With Friday’s decision, the short-term lending (or repo) rate at which banks borrow from the RBI stands increased to 8.25 per cent and […]

Banking

Axis Bank bags ‘Overall Most Productive Bank’ and ‘Best Risk Master’ award at FIBAC 2011

by NR INDRAN / INT Mumba : Axis Bank India’s third largest Private sector bank received the ‘Overall Most Productive Bank’ and ‘Best Risk Master’ awards in the private sector category at the ‘FIBAC Banking Awards 2011’. The awards were presented by Maharashtra Chief Minister Prithviraj Chavan in Mumbai for productivity excellence, […]

Banking

Central Bank of India bagged Indira Gandhi Rajbhasha Award

by NR INDRAN / INT Central Bank of India has been awarded “Indira Gandhi Rajbhasha Award” for its best implementation of Official Language Policy of Government of India in a function, which was held on 14th September, 2011 at Vigyan Bhawan, New Delhi. The award was conferred by the H.E. Smt. Pratibha Devi Singh Patil, […]

Banking

Central Bank of India’s Chairman and Managing Director distributed Rs.10.50 crore under the Bihar Livelihood Project

by NR INDRAN / INT Central Bank of India and Government of Bihar jointly organized a programme for distribution of Rs. 10.50 crore among 2200 women of Self Help Group under Bihar Livelihood JEEVIKA Project. On this occasion Shri M.V. Tanksale, Chairman & Managing Director, handed over a cheque of Rs. 10.50 crore to Shri […]

Banking

Asia Policy Watch: Reserve Bank of India policy preview—expect a pause

by NR INDRAN / INT The Reserve Bank of India’s (RBI) policy meeting on September 16 will be a close call. We expect the RBI to pause, while Bloomberg consensus expectations are of a 25-bp hike. The central bank has been very aggressive in its rate hiking cycle, raising its effective policy rate from 3.25% […]