March 18 (Reuters) – India’s Axis Bank (AXBK.NS), opens new tab said its board approved a plan to infuse 15 billion rupees ($162.28 million) into its consumer lending arm, Axis Finance.
In January, Reuters reported that the company had put on hold plans to sell a stake in Axis Finance after the central bank eased proposed restrictions on overlapping business activities between banks and their subsidiaries.
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($1 = 92.4350 Indian rupees)
Reporting by Urvi Dugar in Bengaluru; Editing by Janane Venkatraman
India’s Axis Bank to infuse $162 million in consumer lending arm
