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Lenders offer discounted services on their apps in a bid to boost customer loyalty.(Bloomberg)

Banks fight for a slice of customers’ shopping pie

By Neil Borate, Shayan Ghosh, Mumbai
PUBLISHED ON JUL 12, 2021 12:06 AM IST
  • These lenders allow customers to access e-commerce websites such as Amazon and Flipkart through their in-house apps and avail of discounts.
The IDBI Bank has revised its cheque leaf charges from July 1.(Pradeep Gaur/Mint File Photo)
The IDBI Bank has revised its cheque leaf charges from July 1.(Pradeep Gaur/Mint File Photo)

These 5 banks have changed rules from July 1. Know details

By hindustantimes.com | Written by Amit Chaturvedi, Hindustan Times, New Delhi
PUBLISHED ON JUL 01, 2021 07:31 AM IST
Most of the banks have revised the ATM withdrawal and cheque leaf charges. There are, however, some exemptions. The customers of SBI, Axis Bank, IDBI Bank and Canara Bank must check out the rule changes.
HDFC Bank’s <span class='webrupee'>₹</span>5,456 crore retail loan recast tipped the scales. Axis Bank restructured <span class='webrupee'>₹</span>504 crore of retail loans and <span class='webrupee'>₹</span>341 crore of corporate loans.(File photo)
HDFC Bank’s 5,456 crore retail loan recast tipped the scales. Axis Bank restructured 504 crore of retail loans and 341 crore of corporate loans.(File photo)

Retail borrowers make the most of recast plan

By Shayan Ghosh, Mumbai
PUBLISHED ON APR 29, 2021 12:27 AM IST
HDFC Bank Ltd, ICICI Bank Ltd and Axis Bank Ltd collectively implemented retail debt recasts of 6,603 crore and just 2,109 crore of corporate loans under the scheme.
Total financial indebtedness of the listed entity, including short-term and long-term debt, stood at Rs 12,943.18 crore at the end of December 31, 2020. This includes principal and interest.(File photo)
Total financial indebtedness of the listed entity, including short-term and long-term debt, stood at Rs 12,943.18 crore at the end of December 31, 2020. This includes principal and interest.(File photo)

Anil Ambani’s Reliance debt rises to Rs 20,380 crore; owes money to HDFC, Axis bank

New Delhi | By Press Trust of India | Posted by Arpan Rai
UPDATED ON JAN 08, 2021 04:02 PM IST
The total debt, including interest, stood at Rs 19,805.7 crore on August 31, 2020.
This tie-up will enable customers based out of both urban and rural markets to avail car financing online in the most effective manner, the Bank said.(Bloomberg)
This tie-up will enable customers based out of both urban and rural markets to avail car financing online in the most effective manner, the Bank said.(Bloomberg)

Axis Bank ties up with Hyundai Motor India for auto retail financing

Mumbai | By Press Trust of India | Posted by NIlavro Ghosh
PUBLISHED ON JAN 06, 2021 02:53 PM IST
Axis Bank through this partnership will allow Hyundai Motor India Ltd (HMIL) customers to get auto loan sanctioned directly on the car maker’s end-to-end online retail platform ‘Click to Buy’ (CTB), a release said.
The headquarters of India's HDFC bank is pictured in Mumbai.(REUTERS)
The headquarters of India's HDFC bank is pictured in Mumbai.(REUTERS)

HDFC Bank trails markets for first time in 7 years

Livemint, Mumbai | By Ravindra Sonavane
UPDATED ON DEC 29, 2020 07:02 AM IST
Shares of HDFC Bank gained 11.09% in 2020, the private lender’s worst performance since 2013, according to data from Bloomberg. So far this year, Sensex and Nifty have gained 14.79% and 14.01%, respectively.
Banks are summarily rejecting requests for loan recasts based on their interpretation of eligibility rules, they said.(File photo for representation)
Banks are summarily rejecting requests for loan recasts based on their interpretation of eligibility rules, they said.(File photo for representation)

Retail borrowers eyeing debt recast face an uphill task

livemint, Mumbai | By Shayan Ghosh
UPDATED ON NOV 02, 2020 06:38 AM IST
Banks are reporting surprisingly few cases of retail loan recasts in India, amid massive job and income losses because of the pandemic.
In one case, Rs 6 lakh was withdrawn in three ATM transactions and 61 online withdrawals from the SBI account of a district police personnel.(Getty Images/iStockphoto)
In one case, Rs 6 lakh was withdrawn in three ATM transactions and 61 online withdrawals from the SBI account of a district police personnel.(Getty Images/iStockphoto)

Three ATMs shut after Rs 10 lakh siphoned off in Jamshedpur by hackers

Hindustan Times, Jamshedpur | By Debashish Sarkar
UPDATED ON SEP 09, 2020 04:10 PM IST
The police have sent notices to the bank authorities as most of these ATMs did not have guards, despite clear guidelines
Rhea Chakraborty father Indrajeet Chakraborty taken to ED office from Rhea’s residence at Santacruz in Mumbai.(Pratik Chorge/HT Photo)
Rhea Chakraborty father Indrajeet Chakraborty taken to ED office from Rhea’s residence at Santacruz in Mumbai.(Pratik Chorge/HT Photo)

Sushant Singh Rajput case: ED grills Rhea Chakraborty’s father for 6 hours

Hindustan Times, New Delhi | By hindustantimes.com | Edited by Kanishka Sarkar
UPDATED ON AUG 27, 2020 11:05 PM IST
A Mumbai police constable escorted Rhea Chakraborty’s father to the bank, where he was questioned by the ED, at around 2:30 pm. He returned home at 9.30 pm.
In the previous session, the Sensex closed at 38,220.39, down 394.40 points or 1.02 per cent, while the broader Nifty slumped 96.20 points or 0.84 per cent to finish at 11,312.20.(REUTERS)
In the previous session, the Sensex closed at 38,220.39, down 394.40 points or 1.02 per cent, while the broader Nifty slumped 96.20 points or 0.84 per cent to finish at 11,312.20.(REUTERS)

Sensex rallies over 300 points in early trade; Nifty tops 11,400

Mumbai | By Press Trust of India| posted by Susmita Pakrasi
PUBLISHED ON AUG 21, 2020 10:55 AM IST
The BSE Sensex was trading 330.76 points or 0.87 per cent higher at 38,551.15; while NSE Nifty was up 98.05 points or 0.87 per cent at 11,410.25.
SBI was the top gainer in the Sensex pack, rising around 2 per cent, followed by L&T, M&M, ICICI Bank, Sun Pharma, Axis Bank, ITC and Bajaj Auto.(AP)
SBI was the top gainer in the Sensex pack, rising around 2 per cent, followed by L&T, M&M, ICICI Bank, Sun Pharma, Axis Bank, ITC and Bajaj Auto.(AP)

Sensex jumps over 200 points in early trade; Nifty tests 11,450

Mumbai | By Press Trust of India| Posted by Susmita Pakrasi
PUBLISHED ON AUG 19, 2020 10:00 AM IST
The BSE Sensex was trading 217.77 points or 0.57 per cent higher at 38,746.09; while NSE Nifty was up 63.60 points or 0.56 per cent at 11,448.95.
On March 13, the government had approved an SBI-backed rescue plan for Yes Bank. pic by hemant Mishra/mint
On March 13, the government had approved an SBI-backed rescue plan for Yes Bank. pic by hemant Mishra/mint

SBI set to invest up to Rs 1,760 crore in YES FPO

Hindustan Times, Mumbai | By Shayan Ghosh, Mumbai
PUBLISHED ON JUL 09, 2020 04:34 AM IST
SBI is the largest holder in YES Bank with a 48.21% stake, followed by ICICI Bank at 7.95% and Axis Bank at 4.78%.
After opening at 33,371.52, the 30-share index turned choppy to trade 52.46 points, or 0.16 per cent, lower at 33,455.46.(PTI)
After opening at 33,371.52, the 30-share index turned choppy to trade 52.46 points, or 0.16 per cent, lower at 33,455.46.(PTI)

Sensex, Nifty open on tepid note; financial stocks drag

Mumbai | By Press Trust of India | Posted by Jasra Afreen
UPDATED ON JUN 18, 2020 11:09 AM IST
Equity benchmark Sensex dropped over 100 points in early trade on Thursday tracking weakness in index-heavyweights ICICI Bank, HDFC Bank and TCS amid muted cues from global markets and unabated foreign fund outflows.
Indian stockbrokers watch the Bombay Stock Exchange (BSE) index on a trading terminal in Mumbai, India(AP)
Indian stockbrokers watch the Bombay Stock Exchange (BSE) index on a trading terminal in Mumbai, India(AP)

Sensex plunges over 750 points, Nifty slips below 9,800 over rising Covid-19 cases

Hindustan Times, New Delhi | By hindustantimes.com | Edited by Meenakshi Ray
PUBLISHED ON JUN 15, 2020 12:37 PM IST
The S&P BSE Sensex was trading over 750 points or 2.23% lower at 33,026.20 levels and the Nifty50 index was at 9,761.00 down 211.90 or 2.12% at 11:57am.
(Hemant Padalkar/HT Photo)
(Hemant Padalkar/HT Photo)

Indian shares jump over 3% as banks surge on bargain hunting

Bengaluru | By Reuters | Posted by Niyati Singh
UPDATED ON MAY 27, 2020 09:12 PM IST
The Nifty banking index rose as much as 8.22%, with Axis Bank surging 14.2% and heavyweights HDFC Bank and ICICI Bank gaining 5.8% and 9%, respectively.
Out of 30 stocks on BSE Sensex, 25 scrips finished in green.(PTI file photo)
Out of 30 stocks on BSE Sensex, 25 scrips finished in green.(PTI file photo)

Sensex ends 2.03% up at 32008.61, Nifty settles at 9383.55

Hindustan Times, New Delhi | By hindustantimes.com| Edited by: Meenakshi Ray
PUBLISHED ON MAY 13, 2020 04:12 PM IST
The S&P BSE Sensex ended up 637.49 points or 2.03% at 32008.61 and the NSE Nifty 50 was up 187.00 points or 2.03% at 9383.55. Both the benchmark indices ended substantially off their day’s high.
A pedestrian wearing a protective mask walks past an Axis Bank Ltd. branch on a near-empty street in Mumbai, India.(Bloomberg)
A pedestrian wearing a protective mask walks past an Axis Bank Ltd. branch on a near-empty street in Mumbai, India.(Bloomberg)

Lenders create provision buffers to counter slippages

Livemint, Mumbai | By Shayan Ghosh
PUBLISHED ON MAY 12, 2020 05:24 AM IST
The Reserve Bank of India (RBI) has asked banks to set aside 10% of those outstanding loans for which a three-month moratorium on repayments was provided. This has to be done in two tranches of 5% each in the March and June quarters.
Experts believe small business portfolios will see significant stress and face a liquidity crunch in the coming days if banks do not resume lending to the sector(MINT)
Experts believe small business portfolios will see significant stress and face a liquidity crunch in the coming days if banks do not resume lending to the sector(MINT)

Indian lenders see a spike in bad loans

Hindustan Times, New Delhi | By HT Correspondent, Mumbai
UPDATED ON APR 29, 2020 04:14 AM IST
IndusInd Bank, on the other hand, pegs the figure at a maximum of 80 bps. One basis point is one-hundredth of a percentage point.
Axis Bank branch, photographed in Mumbai, on June 28, 2018.(ABHIJIT BHATLEKAR/MINT)
Axis Bank branch, photographed in Mumbai, on June 28, 2018.(ABHIJIT BHATLEKAR/MINT)

Axis Bank reports surprise $183 million loss on Covid-19 provisions

Bengaluru | By Reuters
PUBLISHED ON APR 28, 2020 06:12 PM IST
The Mumbai-based Axis booked provisions of 77.30 billion rupees for the quarter, or nearly three times higher than last year, including 30 billion rupees towards COVID-19, the lender said in a regulatory filing.
The 30 percent stake in Max Life Insurance will give Axis Bank a seat among rival banks who already have a foothold in the country’s life insurance industry.(Bloomberg File Photo)
The 30 percent stake in Max Life Insurance will give Axis Bank a seat among rival banks who already have a foothold in the country’s life insurance industry.(Bloomberg File Photo)

Axis Bank to buy 29% stake in Max Life Insurance for Rs 1600 cr

Bengaluru | By Reuters
UPDATED ON APR 28, 2020 01:32 PM IST
Axis Bank, which already holds a minority stake in Max Life, will buy shares from the insurer’s majority owner Max Financial Services Ltd to raise its stake to 30%, the Mumbai-based lender said in a regulatory filing .
During the previous financial year, LIC has settled more than 7.5 lakh death claims with only 0.75 % of the total death claims reported remaining outstanding.(File Photo)
During the previous financial year, LIC has settled more than 7.5 lakh death claims with only 0.75 % of the total death claims reported remaining outstanding.(File Photo)

LIC steps up response to combat the impact of Covid-19

Hindustan Times, New Delhi | By HT Correspondent
UPDATED ON APR 11, 2020 08:21 PM IST
LIC of India has assured its policyholders that the Death claims arising due to COVID-19 shall be treated at par with other causes of death and payments shall be made on an urgent basis.
In a tweet on April 5, country’s largest bank SBI had said a new style of cybercrime has been started by fraudsters and warned people to “Be Alert & Be Aware”.(Mint file photo)
In a tweet on April 5, country’s largest bank SBI had said a new style of cybercrime has been started by fraudsters and warned people to “Be Alert & Be Aware”.(Mint file photo)

EMI moratorium fraud: Banks asking customers to be alert, not to share OTP with imposters

New Delhi | By Press Trust of India
UPDATED ON APR 09, 2020 08:27 PM IST
To give relief to borrowers hit by COVID-19 lockdown, the RBI last month announced that all term loans, including retail and crop loans and working capital payments, will be covered by the three-month moratorium on EMI payments offered.
The broader NSE Nifty gave up the 9,600 level, slumping 868.25 points or 8.30 per cent to close at 9,590.15.(HT Photo/Pratik Chorge)
The broader NSE Nifty gave up the 9,600 level, slumping 868.25 points or 8.30 per cent to close at 9,590.15.(HT Photo/Pratik Chorge)

Sensex crashes 2,919 points amid manic global selloff; Nifty below 9,600

Mumbai | By Press Trust of India
UPDATED ON MAR 12, 2020 04:17 PM IST
After nosediving over 3,204.30 points during the day, the 30-share index settled 2,919.26 points or 8.18 per cent lower at 32,778.14.
HT Image
HT Image

CREDIT CARD FRAUD Amritsar man duped of 90k

Hindustan Times, Amritsar | By HT Correspondent, Amritsar
PUBLISHED ON MAR 09, 2020 09:45 PM IST
Victim revealed his card details to a telecaller who posed as bank employee
As per the Economic Times report, Axis Bank, which owns a shade over 2% in Max Life, will infuse more than Rs 2,000 crore in the latter. The funds are will be used for expansion.(Reuters)
As per the Economic Times report, Axis Bank, which owns a shade over 2% in Max Life, will infuse more than Rs 2,000 crore in the latter. The funds are will be used for expansion.(Reuters)

Axis Bank in talks to pick over 20% stake in Max Life: Report

Livemint, New Delhi | By Rashmi Sanyal
PUBLISHED ON FEB 20, 2020 12:47 PM IST
Deal is aimed at building strategic partnership with Axis Bank. Axis Bank will infuse over Rs 2,000 crore in Max Life
A view of the stock prices displayed on a digital screen outside BSE building in Mumbai.(PTI Photo)
A view of the stock prices displayed on a digital screen outside BSE building in Mumbai.(PTI Photo)

Sensex drops nearly 200 points; Nifty near 12,300 in early trade

Mumbai | By Press Trust of India
UPDATED ON JAN 15, 2020 11:13 AM IST
IndusInd Bank, Tata Steel, UltraTech Cement, SBI, Infosys, Axis Bank and ICICI Bank were the among the top losers in the Sensex pack, shedding up to 3 per cent.
Axis Bank's logo is seen next to ATM machines at its corporate headquarters in Mumbai.(REUTERS Photo)
Axis Bank's logo is seen next to ATM machines at its corporate headquarters in Mumbai.(REUTERS Photo)

Two Indian banks to cease operations in Sri Lanka

Colombo | By Asian News International
UPDATED ON JAN 01, 2020 02:03 PM IST
The licenses issued to Axis Bank and ICICI Bank will be cancelled once the winding-up operations are complete.
Market benchmark BSE Sensex jumped over 250 points on Friday(REUTERS)
Market benchmark BSE Sensex jumped over 250 points on Friday(REUTERS)

Sensex rises over 250 points on strong global cues; Nifty above 12,000

Mumbai | By Press Trust of India
UPDATED ON DEC 13, 2019 09:59 AM IST
After rising 284 points in early session, the 30-share index was trading 244.04 points or 0.60 per cent higher at 40,825.75. Similarly, the broader Nifty was trading 66.20 points or 0.55 per cent up at 12,038.
Axis Bank managing director Amitabh Choudhry said there are many realty projects with over 60 percent construction completed but are not able to carry forward for paucity of funds.(HT Photo/representative image)
Axis Bank managing director Amitabh Choudhry said there are many realty projects with over 60 percent construction completed but are not able to carry forward for paucity of funds.(HT Photo/representative image)

Banks unanimous in seeking one-time loan recast for realtors Mumbai

Mumbai | By Press Trust of India
UPDATED ON NOV 07, 2019 06:36 AM IST
The demand made on Wednesday came ahead of the government later in the evening approving setting up of a Rs 25,000-crore bailout fund to finance as many as 1,600 stalled housing projects.
Market benchmark BSE Sensex dropped over 100 points in early trade on Wednesday(Hindustan Times Media)
Market benchmark BSE Sensex dropped over 100 points in early trade on Wednesday(Hindustan Times Media)

Sensex falls over 100 points; Sun Pharma rallies 5 percent

Mumbai | By Press Trust of India
UPDATED ON NOV 06, 2019 10:28 AM IST
After opening marginally higher, the 30-share index slipped into the negative terrain to trade 113.84 points, or 0.28 per cent, lower at 40,134.39.
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