Search
Axis Bank partners with ITC to offer rural lending programme
March 10, 2023
Axis Bank on Thursday announced its partnership with ITC Limited to offer the bank’s lending products and services to farmers who are a part of ITC’s agriculture eco-system.
The deal will enable Axis Bank to cater to the financial requirements of the unserved and under-served farmers based in the remote regions of the country.
“The Bank will offer a wide range of assets and liability products such as farmer loans, gold loans etc,” the company stated in a press release.
Axis Bank will leverage ITCMAARS (Meta Market for Advanced Agricultural Rural Services), a full-stack Agri-tech application for reaching out to the farmers and addressing their financial requirements.
In addition, the bank will also provide the farmers with an extensive range of products and services through its rural-urban and semi-urban (RUSU) branches located across 656 districts of India.
The bank also aims to further scale up its Bharat Banking strategy by increasing the new-to-bank accounts in FY22-23.
As on December 31st, 2022, its rural advances grew by 27% YOY, disbursement increased by 12% YOY and deposit grew by 16% YOY.
Important Links:
- 4-IN-1 Professional Diploma in Banking, Financial Services & Insurance (PDBFSI): https://ask.careers/courses/4-in-1-professional-diploma-in-banking-financial-services-insurance-pdbfsi/
- Mumbai: https://ask.careers/cities/mumbai/
- TSCFM: https://ask.careers/institutes/tscfm/
