Wednesday, February 21, 2024
HomeNewsAxis Bank makes plan for business expansion in UP

Axis Bank makes plan for business expansion in UP

Senior executives of Axis Bank shared the roadmap for how they plan to expand their operations in Uttar Pradesh on Friday, announcing their plan to make it.

Group executive of the bank for retail liabilities, branch banking and products, Ravi Narayanan, said, “The bank is serving multiple government departments and agencies. The minimum support price money to farmers for rabi and kharif crops is also distributed to farmers through the bank’s network within 72 hours.”

The government agencies that work closely with the bank include Agra Nagar Nigam, Aligarh Nagar Nigam, and Prayagraj Smart City Project. In a similar vein, Axis Bank serves as the single nodal account for the integrated child development scheme, the forest department, and the UP sahkari sangh.

The bank operates a network of 1,339 ATMs and 352 branches. 113 branches are located in urban areas, 94 in semi-rural areas, and 46 in rural sections of the state, while 99 branches are in metro areas. 

To reach out to its customers, the bank has enlisted 11,500 entrepreneurs from both rural and urban areas. The bank employs 9,000 employees in total. The bank’s officials claim that Axis Bank’s CASA ratio is at 56% and its credit deposit ratio is 70%. 

Madhudeep Rai, the circle head for Lucknow, and Rama Velagapudi, the branching head for the local bank, were also present on the occasion.

Subscribe To Newsletter

ICYMI

BRL Editor
BRL Editorhttps://businessreviewlive.com
Business Review Live covers finance, technology, travel, lifestyle, and everything in between through exclusive interviews and analysis, market statistics, digital video, and an expanded array of content formats.