Axis Bank in urban financial inclusion drive

Axis Bank has tied up with Bangalore- based Janalakshmi Social Services(JSS) to launch its urban financial inclusion initiative in India, the pilot of which will be done in Bangalore. It would be a branchless banking facility, and would follow the business correspondent model. JSS would be the business correspondent, while all accounts will be opened, maintained and serviced by Axis Bank. The Bank has enrolled 5,000 customers through this initiative, Ms Shikha Sharma, Managing Director and CEO, Axis Bank, said.(BS 10092010)