![Axis Bank became 4th largest lender by market cap in India Axis Bank became 4th largest lender by market cap in India](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgi3sC0GlWetmp3nPAxQgoUovlkOTc0ClExIfhWB1nureCaaeluNsL1RPa07ozAGxs-gmp4hiRQOhSO1zOkP9iMKrnGqk0potoOBeRYHFvTEWlR189-XLvJ5O6Xs3sxlXcl1AcCUF60FAUi1X37X7JM7rEUnqwIjKJeuLToFBs45w3R0yUZ0-TmdijM_NR4/w320-h192-rw/Copy%20of%20Copy%20of%20Copy%20of%20Copy%20of%20Copy%20of%20Untitled%20(500%20%C3%97%20300%20px)%20(500%20%C3%97%20280%20px)%20(500%20x%20300%20px)%20(11).png)
- This significant development occurred after Kotak Mahindra Bank’s shares experienced a 10% decline due to restrictions imposed by the Reserve Bank of India (RBI).
- The RBI banned Kotak from onboarding new customers through its online and mobile banking channels and also prohibited the issuance of fresh credit cards by the bank.
- As a result, Kotak’s market capitalization fell to ₹3.3 lakh crore, while Axis Bank’s market cap stood higher at ₹3.4 lakh crore.
- Here are the key points:
- Axis Bank:
- Shares were trading 4% higher following better-than-expected Q4 results.
- Market capitalization: ₹3.4 lakh crore.
- Kotak Mahindra Bank:
- Shares dropped 10% due to the RBI ban.
- Market capitalization: ₹3.3 lakh crore.
- In the pecking order of Indian banks, HDFC Bank remains the most valued at approximately ₹11.5 lakh crore, followed by ICICI Bank at ₹7.76 lakh crore and SBI at ₹7 lakh crore.
Question:
Q.1 Which bank overtook Kotak Mahindra Bank to become the fourth-largest lender by market capitalization in India?a. HDFC Bank
b. Axis Bank
c. ICICI Bank
d. SBI