RBL Bank, an Indian private sector bank, said that it has selected Amazon Web Services (AWS) as its preferred cloud provider to fast track its artificial intelligence (AI) efforts. Through the cloud services of AWS, the bank expects to bolster its AI‐powered banking solutions and bring in digital transformation. RBL Bank, which was formerly called […]
Axis Bank claimed that it has surpassed the milestone of one million customers on its WhatsApp banking channel, which it had launched in January 2021. The Indian private sector bank has received request count of six million so far for its WhatsApp banking services. According to Axis Bank, customers by using its WhatsApp banking channel […]
Axis Bank said that it has allotted 1,73,460 equity shares priced at INR 2 each, pursuant to the exercise of stock options under its employee stock ownership plan (ESOP) scheme. The Indian private sector bank said that its paid up share capital will increase accordingly from INR 613,09,72,984 to INR 613,13,19,904. Last month, Axis Bank […]
ICICI Bank has reported a core operating profit of INR 8,605 crores ($1.2 billion) for the first quarter of the fiscal year 2022 (Q1 FY2022) that ended 30 June 2021, an increase of 23% compared to INR 7,014 crores ($944 million) for the same quarter of the previous fiscal year. The Indian private sector banking […]
Indian private sector bank Axis Bank has announced its first derivative transaction linked to Secured Overnight Financing Rate (SOFR), the recommended US dollar interest rate benchmark. SOFR is anticipated to replace London Interbank Offered Rate (LIBOR) at the end of this year. Axis Bank said that it has gone past a major milestone pertaining to […]
Axis Bank has selected Amazon Web Services (AWS) for expediting its digital transformation program and address the increasing demand for its digital banking services. Under a multi-year agreement, Amazon Web Services will help the Indian private sector bank leverage the former’s services that include containers, database, and compute, for developing a portfolio of new digital […]
ICICI Bank, an Indian private sector bank, has signed a memorandum of understanding (MoU) with Japanese lender MUFG Bank for collaborating towards meeting the banking needs of Japanese corporates operating in India. The MoU was inked by Vishakha Mulye, Executive Director of ICICI Bank, and Junsuke Koike, Executive Officer and Regional Executive for India and […]
HDFC Bank has joined forces with CSC e-Governance Services India to launch the EMI collection services for CSC-HDFC Bank’s business correspondents across India. CSC e-Governance Services India is a special purpose vehicle (CSC SPV) under the Indian Ministry of Electronics & IT (MeitY), which had been created for monitoring the functioning of the common services […]
Kotak Mahindra Q3FY21 results : Kotak Mahindra Bank, an Indian private sector bank, has registered a 16.1% growth in its third quarter net profit of this fiscal at INR18.53 billion compared to INR 15.95 billion reported for the same quarter of the last fiscal. The bank’s net interest income for the quarter ended 31 December […]
Indian private sector bank Yes Bank has launched a new finance solution called YES MSME for the micro, small, and medium enterprises (MSMEs) to help them with speedy and easy access to funds. According to Yes Bank, YES MSME will be facilitated by curated offerings to address the business and also individual requirements of MSMEs, […]