Axis Bank Current Affairs

Indian Army inks MoU with Axis Bank on Defence Salary Package

Indian Army has signed Memorandum of Undertaking (MoU) with Axis Bank on Defence Salary Package. The first MoU between Axis Bank and Indian Army was signed in 2011 and was renewed in March 2015.  The current MoU is tailor-made to suit e requirements of serving soldiers, pensioners and families. Recently, Indian Army had also signed similar MoU with HDFC bank.

Key Facts

Under the current MoU, Indian Army personnel will get free personal accident death cover and free permanent total disability cover of Rs 30 lakh apart from benefits. Moreover their children will get free educational cover of up to Rs 2 Lakh for children between the age of 12 and 20 years. Indian Army is hoping that this MoU will benefit large number of serving and retired Army personnel who are having their accounts with Axis bank and also provide them opportunity to access modern banking facilities.


Axis Bank launches India’s first certified green bond at London Stock Exchange

Axis Bank has launched India’s first internationally-listed certified green bond to finance climate change solutions around the world at London Stock Exchange (LSE).

The proceeds of the bond will be invested by Axis Bank in green energy, transportation and infrastructure projects. It will play important role in reinforcing India’s commitment to produce 175,000 MW of renewable power by 2022.

The green bonds of Axis Bank were certified by the Climate Bonds Standards Board. It has raised 500 million dollars at the LSE after it launched. This is the first green bond of Axis Bank issued within its 5 billion dollars Medium Term Note (MTN) programme, which has also has been listed entirely on LSE.

What are Green Bonds?

Bonds basically are debt instruments which help issuer to get capital while the investors receive fixed income in the form of interest. In case of Green Bonds, the issuer gets capital from the investors only if the investment (capital) is being raised to fund green projects relating to renewable energy or emission reductions etc.