Sources familiar with the developments said the clearance came a few days earlier. While the details of the revised structure were not known, the sources said it would remain an all-stock deal.
Indian benchmark indices Sensex and Nifty experienced volatility due to conflicting developments in West Asia, including reports of the Strait of Hormuz closure, which led to a rebound in crude oil prices and heightened investor concerns about supply disruptions and inflation.
Axis Bank on Wednesday said it has completed the acquisition of Citibank's retail business in India for a final cash consideration of Rs 11,603 crore. The sale excludes Citi's institutional client businesses in India. The third-largest private sector bank said the acquisition, announced first in March last year, will not necessitate any new capital requirements and stressed that the attrition numbers on customers are much better than expected.
Latest figures for HDFC Bank aren't available.
Indian benchmark indices Sensex and Nifty surged over 1 per cent, with the Sensex jumping 918.60 points, driven by strong buying in banking and financial counters and a positive trend in global equities, fuelled by hopes of easing West Asia tensions.
Tax sleuths have detected over Rs 52 crore of unexplained cash in jewellers' bank accounts
Stock markets rebounded on Friday with the benchmark Sensex closing higher by 316 points after heavy buying in banking and metal shares amid optimism over trade deal progresses and India's participation in Pax Silica.
Indian stock market indices Sensex and Nifty experienced a decline in early trade due to surging crude oil prices and ongoing geopolitical uncertainty in West Asia. Foreign fund outflows further contributed to the negative sentiment.
The bank, however, did not disclose names of the candidates shortlisted for the post.
Banking operations at public sector banks across the country were impacted on Tuesday as the United Forum of Bank Unions (UFBU) went on nationwide strike demanding the immediate implementation of a five-day work week.
The Coimbatore-based sugar manufacturer had taken Axis Bank (formerly UTI Bank) to court for selling exotic forex derivative products.
Indian benchmark stock indices, Sensex and Nifty, closed nearly 1 per cent lower following the collapse of US-Iran negotiations, which heightened concerns of a prolonged conflict in West Asia and drove crude oil prices sharply higher.
The agency's probe till now found that huge monies were transferred through RTGS transfers to some shell companies including a case where the director of such a firm was a petty labourer
Indian benchmark stock indices, Sensex and Nifty, surged over 1 per cent, driven by optimism surrounding potential US-Iran peace talks and a significant drop in crude oil prices below the USD 100 per barrel mark. This de-escalation in geopolitical concerns and easing inflation pressures provided a substantial boost to investor sentiment.
Sensex plunges over 1,400 points and Nifty slips near 22,250 amid Trump's Iran threat, rising crude oil prices, and FII selling. Here are the key reasons behind today's market crash.
Indian equities on Dalal Street saw volatility as global market trends and fresh tariff concerns linked to Donald Trump impacted investor sentiment. Track Sensex, Nifty50 movement and key market drivers for April 2, 2026.
Benchmark equity indices Sensex and Nifty extended their gains for the second straight session on Monday, driven by optimism over the India-US trade deal and robust buying in public sector banks, consumer durables, and realty stocks.
The bank follows RBI discomfort with quid pro quo pact.
Stock markets closed higher for the second straight session on Tuesday, driven by gains in bank, IT and capital goods shares.
Indian stock market indices Sensex and Nifty experienced a significant decline, driven by rising crude oil prices, sustained foreign fund outflows, and selling pressure in major bank stocks.
Indian stock markets experienced a significant rally following the announcement of a US-Iran ceasefire, coupled with a drop in crude oil prices. The Sensex and Nifty both closed nearly 4 per cent higher, mirroring gains in global markets.
Indian equities on Dalal Street saw volatility as global market trends and fresh tariff concerns linked to Donald Trump impacted investor sentiment. Track Sensex, Nifty50 movement and key market drivers for March 30, 2026.
IndusInd Bank, ITC, HDFC Bank, Tata Steel, HDFC, ICICI Bank and Reliance Industries are also among top gainers. SE Nifty jumped 52.35 points to finish at 11,322.50.
Indian stock markets recovered from early losses to close higher, driven by value buying in IT and banking shares and a rebound in the rupee.
Sharma would be 60 in November 2018, and would have completed 10 years as Axis Bank's CEO the following year in June.
The Reserve Bank of India is widely expected to reduce the repo rate for the first time in nine months when it announces its third quarter policy review.
In what is the largest ATM outsourcing deal in the country, Axis Bank has entered into an agreement with two third-party service providers to increase its ATM count to more than 9,000 within the next 18 months.
US bank Citigroup on Wednesday announced the sale of its Indian consumer banking businesses, including credit cards, retail banking, wealth management and consumer loans, to private lender Axis Bank for Rs 12,325 crore, as part of its plans to exit retail operations in 13 markets.
Banking sector has witnessed healthy growth in advances in the third quarter of financial year 2026 (Q3FY26) against the same period last year, as the full impact of goods and service tax (GST) rate cuts drove growth. Most of the lenders saw their credit growth outpace the deposit growth in the quarter.
Following Axis Max Life Insurance's second-quarter results for 2025-26, Sumit Madan, managing director and chief executive officer of the company, speaks to Aathira Varier and Subrata Panda/Business Standard about growth aspirations, strategies to offset the impact of the input tax credit (ITC) withdrawal, reverse merger plans, and more.
Indian stock market indices Sensex and Nifty closed nearly 1 per cent higher, marking their third consecutive day of gains, supported by a slight decrease in crude oil prices and positive global market trends.
Stock market benchmarks ended with losses for the third straight session on Wednesday as heightened geopolitical tensions, weak global peers and persistent foreign fund outflows unnerved investors.
The Bombay High Court has ruled that the Prevention of Money Laundering Act (PMLA) takes precedence over debt recovery laws like SARFAESI and RDB Acts when it comes to the attachment of proceeds of crime.
RBI has directed the bank to revise the accounting scheme and the deal structure.
India's private-sector banks are likely to lose market share for a second consecutive year in 2025-26, as their loan books continue to expand much slower than overall bank credit.
Axis Bank's loan portfolio quality deteriorated, with gross NPAs rising to 5.22% of gross advances.
A consumer court in Chennai has directed Axis Bank to pay a compensation of Rs 5 lakh to Dipika Pallikal, squash champion and Arjuna awardee.
UTI Bank, the country's third largest private lender, on Monday said the board of directors have approved a proposal to change its name to Axis Bank.
The Reserve Bank of India's 2024 norms for the voluntary conversion of Small Finance Banks (SFBs) into universal banks, particularly the subjective 'diversified loan portfolio' criterion, are proving to be a significant hurdle, with Ujjivan SFB and Jana SFB having their applications returned.
The scheme, known as the 'Power Advantage Home Loan' scheme, will allow customers to lock in their home loan rate at 8.25 per cent for the first two years of the tenure followed by a floating rate.
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