Axis Bank

Axis Bank- Citibank Deal

Citigroup has announced that Axis Bank will be acquiring Citibank’s India consumer business for an amount of USD 1.6 billion in an all-cash deal. This transaction will be including Citibank India’s consumer banking businesses, which include retail banking, credit cards, ..

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What are AT1 bonds?

India’s largest lender State Bank of India (SBI) announced on September 3, 2021 that it has raised Rs 4,000 crore through additional Tier 1 (AT1) bonds. Key Points AT1 bonds were raised at a coupon rate of 7.72%. It the ..

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What is Currency Chest?

Currency Chests are places where RBI (Reserve Bank of India) stocks money meant for banks and ATMs. The Currency Chests are located in different banks and are administered by the Reserve Bank of India. Why is Current Chest in news ..

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Axis Bank to launch AI-powered multilingual voice bot ‘AXAA’

Axis Bank has partnered with a Bengaluru-based startup, Vernacular.ai, an AI-based SaaS Voice automation platform, in order to optimize voice AI solutions and help automate customer interactions through intelligent human-like dialogue, through its multilingual voice bot, named as AXAA. Details ..

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RBI proposed strict rules to open and run current accounts of corporate borrowers

Reserve Bank of India (RBI) would propose strict rules on opening and operating current accounts of corporate borrowers to prevent the diversion of funds. RBI had notified that the banks with collection accounts will have to transfer funds to the ..

HDFC Bank recognized as India’s No. 1 Bank: Forbes Magazine

As per Forbes World’s Best Bank survey, HDFC Bank has been recognized as number 1 bank by customers in India. HDFC Bank emerged as India’s No 1 bank. ICICI Bank was at number 2 and SBI was ranked 11th in ..