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The cuts affect bankers at managing director and director level in the lender's Global Banking and Markets division, the sources said, declining to be identified due to the sensitivity of the matter.
Private lender Axis Bank today reported a whopping 73 per cent decline in net profit at Rs 580 crore for the October-December quarter on account of rise in bad loans.
The government is weighing in on a proposal to reduce the free withdrawals from ATMs to just three, an Economic Times report said.
The money will be raised through its London branch and will be listed on the Singapore Exchange, two investment banking sources said.
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