Axis Bank Current Affairs - 2019

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54 Indian companies among Forbes ‘Global 2000’

In the latest released Forbes ‘Global 2000’ list, Mukesh Ambani-led Reliance Industries leads the set of 54 Indian companies in the annual list of the world’s 2000 largest and most powerful public companies. The top three positions of the list is occupied by the Chinese companies.

The Forbes ‘Global 2000’ is a comprehensive list of the world’s largest, most powerful public companies, as measured by revenues, profits, assets and market value.

Some notable points from Forbes ‘Global 2000’:

  • World’s top three biggest public companies and five of the top 10 are from China.
  • 564 companies enlisted are from the US which marks its dominance as the country with the most Global 2000 companies.
  • Japan follows the US with 225 companies in total.
  • India is home to 54 of the world’s biggest companies.
  • Reliance Industries, with a market value of $ 50.9 billion and $ 72.8 billion in sales, ranked 135.
  • State Bank of India ranked 155 with a $ 23.6 billion market value.

Some other Indian companies making it to the list are:  Oil and Natural Gas ranked 176, ICICI Bank (304), Tata Motors (332), Indian Oil (416), HDFC Bank (422), Coal India (428), Larsen & Toubro (500), Tata Consultancy Services (543), Bharti Airtel (625), Axis Bank (630), Infosys (727), Bank of Baroda (801), Mahindra & Mahindra (803), ITC (830), Wipro (849),  Bharat Heavy Electricals (873), GAIL India (955), Tata Steel (983), Power Grid of India (1011), Bharat Petroleum (1045), HCL Technologies (1153), Hindustan Petroleum (1211), Adani Enterprises (1233), Kotak Mahindra Bank (1255), Sun Pharma Industries (1294), Steel Authority of India (1329), Bajaj Auto (1499), Hero Motocorp (1912), Jindal Steel & Power (1955), Grasim Industries (1981) and JSW Steel (1990).

‘Kisan Card’ launched by Axis bank to facilitate easy agriculture lending to farmers through ATMs.

Screenshot_2The private lender bank, Axis Bank launched an electronic Kisan Card on the RuPay platform, through which a farmer can withdraw up to Rs. 1 lakh per day from Automated Teller Machines ( ATMs)

Purpose: To facilitate easy agriculture lending to farmers through ATMs.

Electronic Kisan Card

  • Will be offer to agrarian customers on their cash credit crop loan accounts.
  • Helpful for them to reduce the interest burden as the interest payments start after withdrawal of the money.
  • Provides queue free, 24×7 disbursement facility for farmers.
  • Allows them to use their loan limit by withdrawing cash up to Rs 1 Lakh per day, in the required quantum, as and when required, thereby reducing their interest burden and negating the risk of carrying higher volumes of cash.