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Axis Bank reported a 26% drop in September-quarter net profit to 5,090 crore, primarily due to a one-time 1,231 crore standard asset provision for discontinued crop loan variants. Despite this, net interest income rose 2% year-on-year to 13,745 crore, with the bank optimistic about GST cuts and retail loan growth.
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Singapore High Court approved WazirX's parent Zettai's restructuring plan, allowing the Indian crypto exchange to resume operations and begin asset redistribution. Following a creditor re-vote, WazirX expects to reopen by late October, prioritizing orderly withdrawals and enhanced security with third-party custodians like BitGo.
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RBI Governor Sanjay Malhotra indicated that an early resolution to tariffs would boost India's economic growth, though higher tariffs are not a major concern. He noted that while capacity utilization and investment sentiment are improving, uncertainties are delaying business and household expenditures. The central bank projects 6.8% growth for the fiscal year, factoring in current tariff levels.
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