Axis Bank board clears higher borrowing limit of Rs2 trillion
The Axis Bank board also authorised the bank to borrow/ raise funds in Indian currency/foreign currency by issue of debt instruments up to an amount of Rs35,000 crore
Mumbai: Axis Bank on Friday said its board has approved a proposal to increase its borrowing limit up to Rs2 trillion.
The borrowings will be “apart from deposits of money accepted from public in the ordinary course of its business, temporary loans repayable on demand or within six months from the date of the loan, if any, obtained from the bank’s bankers”, it said in a regulatory filing.
The board also authorised Axis Bank to borrow/ raise funds in Indian currency/foreign currency by issue of debt instruments up to an amount of Rs35,000 crore.
Axis Bank yesterday reported a loss of Rs2,189 crore for the three months to March on an over Rs16,000 crore addition to the bad loan pile, driven majorly by regulatory changes in impaired assets recognition.
Its shares closed at Rs538.90 a piece, up 8.97%, on BSE.
- Enact new law to enable public credit registry, says RBI’s Viral Acharya
- PNB fraud: CBI court grants bail to ex-MD Usha Ananthasubramanian
- RBI staff to go on mass leave on 4 and 5 September over pension issues
- Everybody to blame for NPAs, says SBI chairman Rajnish Kumar
- Emerging markets turmoil revives a dreaded old Opec ghost
Editor's Picks »
- Startup co-working spaces find a new address: shopping malls
- Reliance Jio GigaFiber broadband preview offer launched. It is free for 3 months
- Maruti Suzuki wants suppliers to sell spare parts through dealerships, service centres
- Why the Indian economy suffers when you save less
- We can’t compete with big AMCs, but there is room to grow given the size of MF market: G. Pradeepkumar
- Subsidy sharing concerns loom for state-run upstream oil firms
- L&T is better off rewarding investors given the poor investment avenues
- Coal India’s share sale plans eclipse bright outlook for FY19
- What rupee fall means for corporate fundraising in 2018-19
- NBCC’s order book enviable, but investors seem unimpressed