Axis Bank and Kotak Mahindra Bank reported strong third-quarter financial updates. Axis Bank saw gross advances grow 14% year-on-year to Rs 11.70 lakh crore and deposits surge 15% to Rs 12.6 lakh crore. Kotak Mahindra Bank reported a 16% year-on-year increase in net advances to Rs 4.8 lakh crore and a 15% rise in total deposits to Rs 5.43 lakh crore. Both banks indicated steady sequential growth in advances and deposits.