​​​The Pune-headquartered lender recorded a 27.10 per cent increase in gross advances to Rs 1,40,561 crore at the end of June 2022, according to published quarterly numbers of the public sector banks (PSBs).

Axis Bank is avoiding large-value corporate loans as it believes there is heavy mispricing in that segment due to low interest rates and excess liquidity of the past few years, says deputy managing director Rajiv Anand.

In the June quarter, Bank of Maharashtra (BoM) and State Bank of India (SBI) were in the lowest quartile as far as Gross Non Performing Assets (NPAs) and net NPAs were concerned, according to an analysis of the quarterly financial numbers published by the public sector lenders.

The switch in hedging tools comes as markets are buffeted by surging policy rates, with the Reserve Bank of India having hiked by 140 basis points since May to tackle inflation. The central bank said last week that it will do “whatever it takes” to bring down price pressures, though some traders had expected it to tone down its hawkishness.

The company markets sugar under the Trust brand and has a pan-India distribution set up. It also exports its products to the Middle East, Southeast Asia and Africa.

At the ET Future of Money Summit, Akash Sinha, Co-founder and CEO of fintech startup Cashfree Payments, said it's time to recognise a ‘super-fintech’ model that enables bank-fintech partners flexibility to integrate quickly, provide services from multiple partners, and ensure scalability.

“Consequent to the cancellation of its licence, “Rupee Co-operative Bank Ltd, Pune” stands prohibited from conducting the business of ‘banking’ which includes, among other things, acceptance of deposits and repayment of deposits as defined in Section 5(b) read with Section 56 of the Banking Regulation Act, 1949 with effect from September 22, 2022,” stated the RBI press release.

Bank of Baroda said it will raise the marginal cost of fund-based lending rates (MCLR) by up to 0.20 per cent across tenors from August 12.