Axis Bank cuts deposit rates
Posted on 20th March 2015 |
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| Axis Bank has cut retail deposit rates by 15-25 basis points (bps) in select maturities. The bank has cut rates by 25 bps for deposits of 18 to 36 months and by 15 bps for deposits up to 18 months. The revised rate stands at 8.50 per cent across all categories in the 6 months to 10 years bucket. These rates are valid for deposits below Rs 1 crore. On March 4, the Reserve Bank of India (RBI) cut the repo rate by 25 basis points to 7.50 per cent. It had cut the repo rate by 25 bps in January as well. With interest rates going down, it was expected that deposit rates offered by banks would go down as well. There has been action on bulk deposit rates in the past few weeks. In early March,UCO Bank reduced the interest rate on select bulk deposits by 11-52 basis points. The Kolkata-based lender will now pay interest at the rate of 8.7 per cent on deposits above Rs 5 crore maturing in 350-375 days, instead of the earlier 8.81 per cent. For deposits of Rs 100 crore and above with maturity of 376 days to less than two years, the rate will be 8.25 per cent instead of 8.77 per cent. Similarly, Oriental Bank of Commerce slashed fixed deposit rates across various maturities by up to 0.50 per cent after the January rate cut by RBI. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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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. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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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. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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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). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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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. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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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. |
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