Powered by: Motilal Oswal
2025-02-19 12:12:20 pm | Source: Accord Fintech
Axis Bank rises on partnering with Privy
Axis Bank rises on partnering with Privy

Axis Bank is currently trading at Rs. 1007.80, up by 13.95 points or 1.40% from its previous closing of Rs. 993.85 on the BSE.

The scrip opened at Rs. 996.90 and has touched a high and low of Rs. 1009.05 and Rs. 988.45 respectively. So far 18841 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1339.55 on 12-Jul-2024 and a 52 week low of Rs. 934.00 on 27-Jan-2025.

Last one week high and low of the scrip stood at Rs. 1017.40 and Rs. 978.00 respectively. The current market cap of the company is Rs. 311487.72 crore.

The promoters holding in the company stood at 8.23%, while Institutions and Non-Institutions held 84.80% and 6.97% respectively.

Axis Bank has partnered with Privy by IDfy to become the first bank in India to implement compliance for the Digital Personal Data Protection Act (DPDP Act) 2023. This collaboration highlights the Bank's dedication to customer centricity, ethics, and transparency, ensuring that customer privacy remains a top priority.

The DPDP Act 2023 establishes new standards for data protection and accountability. The Act brings out several new legal requirements such as providing privacy notices in 22 languages, collecting and maintaining consent artifacts, obtaining verifiable parental consent for minors, communicating on privacy breaches, and administering consent nominations.

In addition to the above, the partnership with Privy will enable Axis Bank, a Data Fiduciary under the Act, to provide comprehensive regulatory reporting. It will also facilitate the creation of dashboards for Data Protection Officer (DPO) to monitor and track customer consent activities, including when consent was given, modified, or revoked.

Axis Bank is the third largest private sector bank in India. The bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses.

Disclaimer: The content of this article is for informational purposes only and should not be considered financial or investment advice. Investments in financial markets are subject to market risks, and past performance is not indicative of future results. Readers are strongly advised to consult a licensed financial expert or advisor for tailored advice before making any investment decisions. The data and information presented in this article may not be accurate, comprehensive, or up-to-date. Readers should not rely solely on the content of this article for any current or future financial references. To Read Complete Disclaimer Click Here