Upon successful submission of the online application form, a service representative of Axis Bank will reach out to the customer within two working days for further processing
Axis Bank said home and auto loan seekers can apply online, which would enable the leading lender to bring down the turnaround time in loan processing. Upon successful submission of the online application form, a service representative of the bank will reach out to the customer within two working days for further processing, the bank said in a statement. The facility is being launched in association with BankBazaar.com.
Announcing the launch of the new interface, Axis Bank consumer lending head Jairam Sridharan said, "We are confident that a web-based customer acquisition model is going to play a large role in the days to come. We are launching this to reduce the turnaround time for customers apart from offering attractive commercial terms." The bank has 1,390 branches (including extension counters) in 921 locations and 6,270 ATMs as on 31 March 2011. It also has overseas offices in Singapore, Hong Kong, Shanghai, Dubai and Abu Dhabi.
"We have grown quite a bit in the capital market and its penetration, but there are areas of weakness," SEBI Chairman UK Sinha said
The capital market in India has grown significantly but there are areas of weaknesses, including the issues of governance, that needed to be addressed, the head of the Security and Exchange Board of India (SEBI) said today.
"We have grown quite a bit in the capital market and its penetration, but there are areas of weakness," SEBI Chairman UK Sinha said in his address to the day-long conference on the "US-India Economic and Financial Partnership" organised jointly by the Confederation of Indian Industry (CII) and Brookings Institute, a Washington-based think tank.
"These areas of weakness become very stark if we discover that there are segments of the geography where lot of activities are taking place both by way of surplus money which can be invested and also by way of need for raising money," he said.
"The approach of the regulator is to provide more and more products. The approach is to provide simplification and convenience to the investors going forward. Approach is also to encourage corporate to raise money domestically," Sinha said in his key note address to the panel discussion on 'Increasing Access to Capital to Stimulate Sustainable Economic Growth: The Road to Deepening India's Capital Markets'.
Observing that a "very large" portion of the Capital market is concentrated in the large eight to ten cities of India, Sinha said there will be need to deepen the access of Capital market to small markets and rural areas. "I believe Mutual Fund can play a very important role in that," he said.
Sinha said the Indian Capital Market is facing two problems these days. While a large number of companies have raised money, there is no trading by them. He said, of late, private equity and venture capital has started gaining some ground.
Kotak Mahindra Mutual Fund new issue closes on 29th June
Kotak Mahindra Mutual Fund has launched Kotak FMP Series 53 (245 Days), a close-ended income scheme.
The investment objective of the scheme is to generate returns through investments in debt and money market instruments with a view to significantly reduce the interest rate risk. The tenure of the scheme is 245 days.
The new issue closes on 29th June. The minimum investment amount is Rs5,000.
CRISIL Short Term Bond Index is the benchmark index. Deepak Agrawal and Abhishek Bisen are the fund managers.