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On 30 July 2007, UTI Bank changed its name to Axis Bank. [16] In 2009, Shikha Sharma was appointed as the MD and CEO of Axis Bank. [17] In 2013, Axis Bank's subsidiary, Axis Bank UK commenced banking operations. [18] The Indian government intends to sell a 20.7% stake in Axis Bank in February 2014 for 57 billion rupees, equivalent to 925 ...
The pre-approved, small-ticket, short-term loans on UPI are called credit lines. On July 19, 2024, The New Indian Express published an article stating that Punjab National Bank, Axis Bank, State Bank of India, and ICICI Bank had already started using the UPI credit line product on a trial basis. When it comes to granting pre-approved loans ...
Most checking account balances are measured by minimum daily balance. An account balance may drop below the required amount throughout a given day as long as the balance requirement is met at the end of the business day. [1] [2] For example: Joan has a checking account with a "$1,600 minimum daily balance." One day she makes purchases that drop ...
If you're like many other people, you probably have at least one checking account and one savings account. But you might also have a couple of investment accounts, some credit cards, and some ...
Inward remittances from outside India, legitimate dues in India and transfers from other NRO accounts are permissible credits to NRO account. [10] [11] Since 1991, India has experienced sharp remittance growth. In 1991 Indian remittances were valued at US$2.1 billion; [5] [12] in 2006, they were estimated at between $22 billion [13] and $25.7 ...
Reserve requirements are central bank regulations that set the minimum amount that a commercial bank must hold in liquid assets. This minimum amount, commonly referred to as the commercial bank's reserve, is generally determined by the central bank on the basis of a specified proportion of deposit liabilities of the bank.