Axis Bank

They were jointly responsible in some of the schemes, individually responsible and also paired with others in different schemes. Viresh Joshi also doubled up as the chief dealer and thus had access to much more information than the other fund managers. Sometime in February 22, there were murmurs within the mutual fund industry of some of the fund managers in Axis, having income substantially higher than their disclosed sources of income.

On 4 May, Axis AMC had suspended Joshi and another fund manager. Axis MF, in an official statement, said, "Axis AMC has been conducting a suo moto internal investigation since February 2022, using reputed external advisors to assist with this investigation."

The boards of Axis Bank and Citibank have approved the deal, comprising the sale of the consumer businesses of Citibank India, which includes credit cards, retail banking, wealth management and consumer loans, as well as sale of consumer business of Citi's non-banking financial company, Citicorp Finance (India) Ltd, comprising the asset-backed financing business, which includes commercial vehicle and construction equipment loans, as well as the personal loans portfolio.

It picked the engineering and construction entity as its top pick on the back of the company's strong order book and good revenue outlook. Larsen & Toubro (L&T) deals in EPC (engineering, procurement and construction) projects, hi-tech manufacturing and services. It primarily operates in infrastructure, heavy engineering, defence engineering, power, hydrocarbon, and services business segments.

For Container Corporation of India, it has kept the target price at Rs 737 per share by FY23-FY24, against the current price of Rs 620. "Concor's domestic business is on a strong growth trajectory led by incremental cargo in commodities like cement, foodgrains, industrial salts, etc.," it said. The company's robust cash flows continue to support its elevated capital expenditure spending, leading to a debt-free balance sheet.

The penalty has been imposed in exercise of powers vested in the RBI under provisions of Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949. In a statement, the central bank said that the penalty has been imposed for "contravention of/non-compliance with certain provisions of directions issued by RBI contained in the Reserve Bank of India - Direction, 2016".

In a regulatory filing on Monday, the bank said that the issuance is part of the existing Global Medium Term Notes (GMTN) programme of the bank. The Offering Circular for the GMTN programme has been updated on Singapore Exchange Limited (SGX) and the International Securities Market (ISM).