Axis Bank - Current Affairs Questions and Answers

ANSWER: GIFT city, Gujarat

Explanation:
Axis Bank is set to open its first international finance branch at the International Financial Services Center (IFSC) in Gujarat International Finance Tech (GIFT) City.

Leading PSU and private banks have set up their international banking units in the GIFT SEZ, doing business transactions of over USD 1 billion.

Yes Bank, ICICI Bank, Federal Bank, IDBI Bank, IndusInd Bank, State Bank of India and Kotak Mahindra Bank are some of these.

Axis Bank is the third largest private sector bank in India.

Axis Bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses.

Axis Bank: Know More

• Axis Bank is the third largest private sector bank in India.
• Axis Bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses.
• Headquarters: Mumbai
• CEO: Shikha Sharma
• Chairperson: Dr. Sanjiv Misra (Part Time)

ANSWER: Third

Explanation:
Axis Bank, India’s third largest private bank, is set to launch intelligent banking chat bots to make mobile banking services more conversational

• The bank tied up with Active Intelligence Pte or Active. ai , a Singapore based Fintech platform to launch the bots which will enable customers to chat through its mobile banking app and messaging platform such as Facebook messenger
• New digital technologies will make it easier for customers to engage with clients
• Conversation will be held in the sphere of banking in a personal and contextual manner in digital space
• This marks a new era of personalised banking
• In the future, customers will walk into micro branches with voice enabled IoT devices to engage with banks for services
• Chat bots will also reduce cost of operations for the bank

ANSWER: Both b and c

Explanation:
SWIFT has announced that ICICI Bank and Axis Bank are the first in India to sign up for global payments innovation initiative.

• Both banks will collaborate with close to 70 leading banks internationally.
• Initiative aims to enhance cross border payment through instant messaging platform ensuring global reach.
• It has the following key features:
  1. Same day use of funds
  2. Transparency and predictability of fees
  3. End-to-end payments tracking.
  4. Transfer of rich payment information.

ANSWER: Dr. Sanjiv Misra

Explanation:
Mumbai based Axis Bank has been given RBI approval for appointing Dr. Sanjiv Misra as the Additional Director and Non Executive (Part Time) Chairman of the bank from July 2016 to July 2019 for a period of three years.

• He was earlier the SUUTI or special under stading of UTI) nominee on board as Non Executive Chairman till May 2016.
• He has a degree in economics from St, Stephen’s College, a masters from Delhi School of Economics and a doctorate from JNU.
• He was designated Lucius N. Littauer Fellow of 1987 in recognition of skills in academia and leadership spheres.
• He was a member of the IAS for over 35 years.
• Dr. Misra has also been a member of the Advisory Council of the Asian Development Bank Institute Tokyo and a member of the Committee on Fiscal Consolidation (Kelkar Committee) set up in August 2012 for fiscal consolidation for the Indian economy.

ANSWER: Axis

Explanation:
Indian bank Axis bank has opened office in Dhaka to leverage business opportunities. The bank has already established its presence in Singapore, Hong Kong, Dubai, Colombo and Shanghai with representative offices in Dubai and Abu Dhabi along with a totally owned subsidiary in the UK.

ANSWER: Axis Bank

Explanation:
The bank launched contactless multi-currency forex cards in partnership with Visa - the payments gateway company. Axis Bank would be the first bank to issue multi-currency contactless cards or 'tap and pay' cards which can be loaded in 15 currencies such as Swiss Franc and Hong Kong dollar besides the three main currencies - US dollar, Euro and British Pound.