This, despite the fact that Axis Bank has changed its provisioning norms for small business loans, setting aside more than regulatory requirements. While Axis Bank has time till 30 June to complete the rest of it, the lender may or may not do it by then. “The way we have disclosed our numbers is to provide you the maximum extent of restricting possible on our book," said Puneet Sharma, chief financial officer, Axis Bank. The bank reported gross slippages of ₹5,285 crore during the March quarter, versus ₹3,920 crore in the same period last year. Shares of Axis Bank on BSE closed at ₹699.3 on Tuesday, down 0.16% from its previous close.

Source: Mint April 27, 2021 14:59 UTC