Axis Bank has touched 1 million micro-borrowers mark and is not keen on acquiring stake in any microlender. The Bank will now focus on expanding the business organically rather than buying into a microfinance company.
As many as 90 per cent of Axis Bank’s borrowers have been tapped by the Bank’s dedicated team of 1,600 people, while the rest have come from intermediaries.
Axis Bank is India’s third-largest private sector bank. The Bank offers entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses.