Axis Bank touts quality push, but market flags a host of concerns

Axis Bank's stricter lending norms impacted its June-quarter profits, causing a stock slump and a Nifty dip. The new rules, affecting loan upgrades and settlements, led to increased slippages, particularly in unsecured and agricultural sectors. This resulted in a profit decrease of ₹614 crore, ROA fell by 15 bps and ROE by 1.4%.