Axis Bank follows the trend, raises MCLR by 10 basis points to 8.4%
Posted on 19th February 2018 |
.jpg) |
| Axis Bank has raised its Marginal Cost of Funds based Lending Rates (MCLR) by ten basis points across the three and six month, one, two and three year categories with one-year MCLR now standing at 8.4 per cent. The bank followed other private lenders like HDFC Bank and IndusInd Bank in increasing MCLR — indicating a trend. IndusInd Bank has also raised its MCLR by 15 basis points, bringing its one-year MCLR to 9.10 per cent. The new rates were applicable from 17th February 2018. Earlier this month, HDFC Bank hiked its MCLR by 10 basis points. This is the second time during the past two months that Axis Bank has hiked its MCLR. Earlier in January, the bank had hiked its MCLR by 5 basis points. As hardening of bond yields leads to a rise in the cost of funds for banks, the lending rates indicate that banks have started to transfer this rise in cost to their borrowers. However, Bank of Baroda cuts its MCLR by 10-25 basis points for tenors less than one year. The past month has also seen other public sector banks like State Bank of India and Andhra Bank lowering their MCLR. |
|
|
|
|
Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
.jpg) |
Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
|
|
Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
.jpg) |
The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
|
|
LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
.jpg) |
In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
|
|
Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
.jpg) |
Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
|
|
World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
.jpg) |
In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
|
|
|
|
| Be the first person to write a business review for Axis Bank follows the trend, raises MCLR by 10 basis points to 8.4% |
|
|
|
