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Axis Bank board has approved a proposal to increase its borrowing limit up to Rs 2 lakh crore.
The borrowings will be “apart from deposits of money accepted from public in the ordinary course of its business, temporary loans repayable on demand or within six months from the date of the loan, if any, obtained from the bank’s bankers”, it said in a regulatory filing.
The board has also authorised Axis Bank to borrow/raise funds in Indian currency/foreign currency by issue of debt instruments up to an amount of Rs 35,000 crore.
Axis Bank had yesterday reported a loss of Rs 2,189 crore for the three months to March on an over Rs 16,000-crore addition to the bad loan pile, driven by regulatory changes in impaired assets recognition. The lender shares closed at Rs 538.90 a piece, up 8.97 per cent, on the BSE.
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