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Tag Archives: SME

Bank of Baroda inks pact with DGS&D

Bank of Baroda has entered into an agreement with Directorate General of Supplies & Disposal (DGS&D) for extending various banking services to Government e-Marketplace (GeM). DGS&D has been mandated to set up GeM, an initiative intended to bring greater transparency and efficiency in public procurements. The relationship of the bank ... Read More »

Axis Bank plans to raise Rs 35,000 crore to fund expansion

In line with its growth projection in domestic as well as overseas operations, Private sector Axis Bank is planning to raise up to Rs 35,000 crore in about a year’s time. In this regard, the country’s third largest private sector lender may issue debt securities denominated in Indian rupees or ... Read More »

Bank of Baroda to raise Rs 9,000 crore through equity dilution

Bank of Baroda (BoB) has received an approval to raise Rs 9,000 crore through various instruments, including Follow-on Public Offer (FPO) in order to fund growth during this fiscal. The board of directors at its meeting held on May 27, 2017 has approved for the same. The board approved raising ... Read More »

Axis Bank unveils app for feature phones

Axis Bank, a private sector lender, has unveiled Axis OK – a light, multilingual, non-data app for basic banking services through feature phones. Besides providing the customer with a snapshot bank accounts and debit/credit cards, the app enables fund transfers as well as mobile and DTH recharge. Axis Bank is ... Read More »

Bank of Baroda inks MoU with IFFCO to launch co-branded debit card

Bank of Baroda (BoB) has entered into a Memorandum of Understanding (MoU) with IFFCO to roll out their first set of co-branded debit cards for farmers. This step has been taken as part of a novel initiative to push digitalization and cashless economy. The co-branded debit cards, with inbuilt overdraft ... Read More »

Axis Bank eyeing to tie-up with one more life insurer

Axis Bank, a private sector lender, is planning to expand its business of distributing life insurance policies through a tie-up with one more insurer. The bank currently has a partnership with Max Life and LIC. The present rule allows an open architecture with up to three insurers. As for general ... Read More »

Bajaj Finance to raise $150 million from IFC: Report

Bajaj Finance is reportedly looking to raise $150 million from International Finance Corporation (IFC). IFC would subscribe to the company’s non convertible debentures for on-lending to micro small and medium enterprise. Bajaj Finance has total assets under management of around $9.23 billion at the end of December with 43% of ... Read More »

Axis Bank attains 1 million micro-borrowers mark

Axis Bank has touched 1 million micro-borrowers mark and is not keen on acquiring stake in any microlender. The Bank will now focus on expanding the business organically rather than buying into a microfinance company. As many as 90 per cent of Axis Bank’s borrowers have been tapped by the ... Read More »

Axis Bank inks pact with GUS Holdings BV

Axis Bank has signed an agreement with GUS Holdings BV to sell 1.40 crore equity shares or 10% of total outstanding shares of Rs 10 a share face value of Experian Credit Information of India. Gus Holdings BV will buy the shares at Rs 45.7 a share, resulting in a ... Read More »