Axis Bank Current Affairs - 2020

‘Kisan Card’ launched by Axis bank to facilitate easy agriculture lending to farmers through ATMs.

The private lender bank, Axis Bank launched an electronic Kisan Card on the RuPay platform, through which a farmer can withdraw up to Rs. 1 lakh per day from Automated Teller Machines ( ATMs) Purpose: To facilitate easy agriculture lending to farmers through ATMs. Electronic Kisan Card Will be offer to agrarian customers on their Read More…

Govt. sold 9% stake in Axis Bank via SUUTI & raised Rs. 5500 crore

The Central Government sold 42.26 million shares or 9 % of Axis Bank’s share capital through a trust fund, Specified Undertaking of the Unit Trust of India (SUUTI),  by a block deal in a price range of Rs.1,313-1,341 per share.  Purpose: To garner over Rs.5, 500 crore through the sale of 4.2 crore shares or Read More…

LIC’s stake in Axis Bank crosses 10%

The stake of country’s largest life insurer Life Insurance Corporation of India (LIC) in Axis Bank crossed 10% after it picked up the private lender’s shares through open market transactions. LIC is one of the promoters in Axis Bank, bought 52.07 lakh shares or over 1 % of paid-up capital worth Rs 625.64 crore between Read More…

Tags:

Cabinet approves raising foreign investment to 62% in Axis Bank

The Cabinet Committee on Economic Affairs (CCEA) has given nod to the proposal of Axis Bank for hiking foreign investment from 49% to 62% entailing an inflow of about Rs 7,250 crore. It will be subject to the aggregate foreign institutional investors holding not exceeding 49% of the paid up equity share capital of the Read More…

RBI: Inflation linked bonds for sale from December 23, 2013

The Reserve Bank of India (RBI) will issue Inflation Indexed National Savings Securities Cumulative (IINSS-C) bonds (or inflation linked bonds) for retail investors by opening the subscription on December 23, 2013 and close it on December 31, 2013. Objective: The move will help to protect retail investors from price rise. The IINSS-C bonds will offer Read More…