Axis bank expanding its network in unbanked areas
By Joseph Samson
Apr 1, 2014
Print    Email    RSS   

Third largest bank of the country Axis bank launched 250 new branches in the areas devoid of banking services. As per the regulatory requirement, the launch of these branches makes the bank eligible to roll out 750 more new branches in coming next two years.

Mr. Rajiv Anand retail banking manager of the bank stated that, RBI stated that bank can front-load its 25 per cent branches in unbanked areas and carry forward the benefit over the next three years. Bank has already established 250 branches in the unbanked areas therefore this gives the bank opportunity to have 750 more branches in tier – I, II, III centers.

Currently bank is having a huge network spread across the country with 2,300 branches, from which more than half of the branches are in rural, semi urban and unbanked areas. After the launch of so many branches in the rural areas, bank feels it’s a big opportunity in rural areas. These branches are small and will be operating at low cost.

(Comments Posted : 0) Post Your Comments
Show All Comments
 Select a product:

 Select a product:

Save tax with ELSS
If the interest rate is same, how do you...
Home loan rates likely to remain stable
Bankers concerned on RBI loan recovery...
Make your home loan repayment easier

My Loan A/c No LBKNR00000876635 I WANT THE COPY OF...
how can applay for DSA. any age, qalification,...
How to view my home loan account statement
how to get status of home loan

Canara Bank earned a profit of 60%. Feb 6, 2015
New Branch of Laxmi Vilas bank at Vijayawada Jan 30, 2015
Home loan EMIs expected to drop down Jan 21, 2015
Corporation Bank received MSME banking excellence award 2014 Jan 19, 2015
Home loan rates set to fall, after reduction in repo rate Jan 16, 2015
News Archive