AXIS BANK CREDIT CARD RENEWAL
NBFCs turn top overseas borrowers in April with over $1.5 billion loans
Indian companies raised $2.92 billion through overseas loans in April, with NBFCs leading the way, securing $1.53 billion for on-lending and sub-lending. Shriram Finance topped the list with $955 million in external commercial borrowings. ECB has become a cheaper funding option for NBFCs, diversifying their funding mix amid reduced bank lending due to risk weights.
The End of Banking in Canada? Wealthsimple launches credit card with 2 percent cashback, 2.75 percent chequing, and instant loans in bid to disrupt the Big 6
Wealthsimple is challenging Canada's banking giants by introducing a suite of new financial products. These include a high-interest chequing account, a no-fee credit card with 2% cashback, and an upcoming instant line of credit. The company aims to consolidate savings, spending, and investing into a single platform, offering Canadians a digital-first alternative to traditional banking with competitive rates and rewards.
Banks police business card swipes, ask users to swear off misuse
Banks are tightening the rules for corporate credit cards following regulatory concerns. Users must now declare that these cards will only be used for business expenses, preventing them from circumventing personal spending limits. This move addresses the misuse of corporate cards for personal purchases, potentially leading to deactivation for violations and increased scrutiny from both banks and companies.
These IndusInd Bank services won’t be available on these days: Check details here
IndusInd Bank will conduct system maintenance and banking services will be unavailable on two days. Customers should plan transactions accordingly.
Stocks in news: Oriental Carbon, Maruti Suzuki, IndiGo, Texmaco Rail, Wipro
Oriental Carbon saw Bank of America buying shares. Maruti Suzuki is adjusting its e VITARA production. IndiGo is launching flights to Almaty, Tashkent, and Tbilisi. IIFL Finance plans to raise funds through debentures. Texmaco Rail secured an order from Mumbai Railway Vikas Corporation. Wipro extended its partnership with Metro AG. Kaynes Technology's subsidiary made an asset purchase agreement.
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These 7 banking stocks can give more than 20% returns in 1 year, according to analysts
In the last few weeks, bank stocks have outperformed a volatile market. So, it is clear that, unlike in the past when bank stocks led the correction in the market, this time institutional investors are clearly in no hurry to reduce their banking exposure. This has to be seen in light of the fact that, for a well-known reason, the margins of banks are going to come under pressure in coming quarters.
What are the documents required for an Indian passport?
To apply for an Indian passport—new, renewal, reissue, or Tatkaal—you must submit valid ID, address, and birth proof such as Aadhaar, PAN, or utility bills. Minors require parental documents and consent. Additional paperwork applies for name changes, marital status, or lost passports. Official or diplomatic passports need approval letters.
Market Wrap: D-St ends higher as RBI easing, U.S. jobs data fuel rally; Sensex adds 256 pts, Nifty hits 8-month high
Indian benchmark indices ended Monday’s session in the green, with the banking index surging to a record high during the day, lifted by the Reserve Bank of India’s surprise policy easing, upbeat U.S. jobs data, and progress in U.S.-India trade talks.
Bajaj Finance, other NBFC stocks outperform bank stocks after RBI bazooka. Should you still buy?
Emkay Global views the RBI’s move as a clear positive for NBFCs, especially those heavily reliant on bank borrowings and with a sizable fixed-rate loan portfolio, such as gold and vehicle financiers. These firms are expected to benefit from reduced funding costs and improved net interest margins (NIMs) in H2FY26 and beyond.
Nifty Bank rallies to record high, crosses 57,000 mark as RBI policy support lifts financial stocks
Nifty Bank hit a record high above 57,000 as the RBI’s surprise 50bps rate cut and CRR reduction boosted financial stocks. Private and mid-sized banks led gains amid improved liquidity and credit growth outlook. Positive U.S.-India trade talks and strong global cues further supported the broader market, lifting Nifty 50 and Sensex on Monday.
As deposit rates fall, banks turn to innovation to woo savers and stay competitive
With interest rates declining, banks face the challenge of attracting deposits. Experts suggest innovative products like fixed deposit-linked credit cards and sweep-in deposits are crucial. Younger savers are shifting to capital market products, while senior citizens favour government schemes. Banks are already adapting, but further rate cuts will necessitate more competitive offerings to retain depositors.
Bank, NBFC stocks cheer RBI’s 50 bps bonanza, but are rate cuts delivering?
RBI MPC Impact: Banking and NBFC stocks rallied as the RBI delivered a 50 bps repo rate cut, lifting Nifty Bank to a record high. The move brings the total rate cut to 100 bps, lowering the repo rate to 5.5%. Experts see this as a shift to a more balanced policy stance, boosting credit demand and liquidity.
Cos hail RBI move to exempt small-ticket gold loans from stringent appraisal requirements
The Reserve Bank of India's decision to ease appraisal norms for small gold loans is set to improve credit access, according to gold loan companies. A repo rate cut of 50 bps to 5.50% and a CRR reduction are expected to boost liquidity and lower credit costs.
Banks, autos, financials, and realty stocks rally up to 5% as RBI delivers larger-than-expected rate cut
Indian stock markets reacted positively to the Reserve Bank of India's policy changes. Sectors like banking, auto, and realty saw significant gains. The Bank Nifty reached a record high. IDFC First Bank and Godrej Properties were among the top performers. RBI's move aims to boost economic growth amid global uncertainties. Borrowers can expect lower EMIs following the rate cuts.
Flipkart secures NBFC licence from RBI, to begin lending from own books
Walmart-owned Flipkart has received a non-bank finance company (NBFC) licence from India’s central bank, allowing it to lend directly to customers and sellers on its platform for the first time. This enables Flipkart to offer loans independently rather than through partners, potentially boosting profitability. The e-commerce giant plans to start lending soon, pending internal approvals.
HDFC Bank UPI and other services won’t be available on this date: Check details here
HDFC Bank will conduct system maintenance on June 8, 2025 impacting UPI and other digital services. Customers are advised to use PayZapp during this period.
HDFC Bank Credit Card lounge access: Now you can access these airport lounges via Tata Neu Infinity credit card
HDFC Bank revises its airport lounge access policy for credit card users. New rules take effect from June 10, 2025. Access shifts to a voucher system based on spending.
IndusInd Bank expands hyper-personalised digital banking experience to all customers with INDIE app
IndusInd Bank expands its digital banking platform, ‘INDIE’, to over 15 million retail customers, integrating core banking services into a unified interface. The app features numberless debit cards, virtual single-use cards, and dynamic ATM PINs for enhanced security.
Axis Bank Privilege Credit Card: How to get discounts on domestic, international flights with Yatra
Axis Bank Privilege Credit Cardholders on the American Express Network can enjoy exclusive benefits on food, shopping, and travel until June 30, 2025. Cardholders can avail discounts on Zomato, Blinkit, and Swiggy using specific promo codes on Saturdays.
Klarna trials debit card in US, plans Europe launch later this year
Klarna in April paused its plans for a US initial public offering for the second time in the last few years as president Donald Trump's sweeping tariffs rattled global markets. The company, which has over 100 million global active users, is currently trialling the debit card in the U.S. before a broader rollout in the US and Europe later this year.
Top airline credit cards for frequent flyers in 2025: Check credit card details of Axis Bank, SBI, ICICI Bank and Kotak Mahindra Bank
Frequent flyers can unlock significant value with the right airline credit card. Options from Axis, SBI, ICICI, Kotak, and Standard Chartered offer benefits like free flights and lounge access. Cards such as Axis Bank ATLAS and Air India SBI Signature provide generous rewards and welcome bonuses.
HDFC Bank credit card rules changing from July 1, 2025: New charges on rent, gaming, and reward limits
HDFC Bank is set to implement changes to its credit card fee structure and rewards program starting July 1, 2025. New charges will apply to rent payments, online gaming, and wallet loading, while reward point accrual for insurance transactions will be capped based on the card type.
How fast you take loans also impacts your credit score, not just the amount: Bhavesh Jain, MD & CEO, TransUnion CIBIL
A lot more needs to be done to educate borrowers on the finer aspects of credit behaviour. Often, the borrowers don’t understand the impact of missing even one or two payments, says Bhavesh Jain, MD & CEO of TransUnion CIBIL.
HDFC Bank, Axis Bank, American Express, Kotak Mahindra Credit Card changes June 2025: Know what is what, how it impacts your cashback, reward points
In June 2025, major banks like HDFC, Axis, Kotak Mahindra, and American Express are revising credit card terms. These changes impact airport lounge access, cashback, fuel rewards, and fee waivers.
Bank lending moderates across sectors: RBI
RBI data reveals a moderation in overall bank lending, slowing to 11.2% in April 2025. While retail loan growth decelerated due to declines in unsecured and vehicle loans, certain sectors like jewellery and renewable energy experienced substantial growth. Credit to industry saw a slight increase, with notable acceleration in specific segments like metal products and textiles.
EPFO 3.0 roll out, free Aadhaar update, Form 16 for ITR filing: 7 money changes in June 2025; check details here
June 2025 brings significant financial changes, including the EPFO 3.0 launch for simplified PF withdrawals and revised credit card policies from HDFC, Axis, and Kotak Mahindra Bank. Taxpayers should note the TDS certificate deadline, while individuals have until June 14 to update Aadhaar details for free.
No airport lounge access, higher cashback on Myntra from June 20, 2025: Check Axis Bank Credit card changes
Axis Bank is updating terms for its REWARDS and Flipkart Axis Bank Credit Cards starting June 20, 2025. REWARDS cardholders will see a simplified spend exclusion approach for rewards and fee waivers, using categories instead of MCC codes.
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