Axis Bank Current Affairs - 2019

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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.

Axis Bank launched the First Multi-Currency Contactless Card service in India

India’s third largest private sector lender, Axis Bank has launched the first Contactless Debit, Credit and Multi-Currency Forex Card in association with VISA payWave in the country.

Axis Bank will offer a contactless debit/credit cards to its 1.7 million premium customers which also enables withdrawal of 15 currencies via Multi-Currency Forex facility.

To facilitate contactless cards operations bank will upgrade 50,000, of its point of sale (PoS) machines across the country.

How does Axix Bank’s Contactless Card works?

  • Axis Bank Contactless cards contain a chip and an antenna (based on radio frequency) that facilitates seamless, faster and hassle free payments.
  • The customer has to enter the purchase amount in the contactless PoS terminal and then simply has to tap the card on the terminal to complete his/her payment wirelessly and in a secure manner.

The bank has introduced this card in line with RBI’s guidelines of promoting PIN-less small ticket transactions and to provide service to its customers with the global standards.