Mumbai, March 18 -- Private lender Axis Bank informed the stock exchanges in a regulatory filing here today that it will infuse Rs 1,500 crore as capital into Axis Finance, which is its wholly-owned subsidiary.
According to the statement, the Axis Bank board approved the infusion into the non-banking financial company (NBFC) in one or more tranches by March 31, 2027 by subscribing to its rights issue.
The investment has been approved by banking regulator Reserve Bank of India (RBI) through a letter on March 10.
The transaction falls within the scope of related party transactions after the RBI revised guidelines, which allow multiple entities within a banking group to undertake the same line of business, subject to board approval and adeq...