Ekyc completely eliminates paperwork and ipv to complete the kyc process. Axis Bank has partnered with Visa to launch 'ekyc' (electronic know your customer ) facility, first organisation in India to introduce biometrics -based kyc, offering convenience, speed and ease to aadhaar-registered individuals to open bank accounts. 66 Subsidiaries The bank has ten wholly owned subsidiaries: Axis Private Equity Ltd. Axis Trustee services Ltd. Axis Asset Management Company Ltd. Axis Mutual Fund Trustee ltd. Axis Bank uk ltd. AxisDirect Axis Finance Ltd.
Axis Bank - loan Request Statement
60 Asha home loans Asha home loans, our home loan product, caters to the first time home buyers in the lower income segment, and helps them by providing affordable emi options. 61 62 The product offers loans from 100,000 (US1,500)1.5 million (US22,000) in small towns (population less than 1 million) and up.8 million (US42,000) in larger towns (population over 1 million to customers with family incomes of 8,000 (US120)10,000 (US150) per month and above. 63 isic forex card isic forex card for students is the first photo travel currency card available in usd, eur, gbp and aud currencies. It can be used across 34 million merchant locations and at over 2 million MasterCard atms globally. 64 ekyc ekyc 65 is an online, paperless Aadhaar business card-based process for fulfilling kyc requirements to start investing in mutual funds without submission of any documents. Sebi has recently in 2017, allowed Aadhaar-based kyc to be used for mf investments, for the convenience of investors. The first step in starting your investment in mutual fund is kyc compliance. Kyc verification enables anybody to open new accounts with all sebi-registered intermediaries such as mutual funds, stock brokers, portfolio managers, depository participants, venture capital funds and Collective investment Schemes eliminating the need to repeat standard kyc. The normal kyc process requires submission of kyc form along with investor signature and additional documents for id and address proof. In-person verification (IPV) and sighting the original documents needs to be completed by a competent person.
Customers can get instant loan approval and disbursement, 52 which gets credited directly into their account. 53 Locker booking The bank has launched an online locker booking facility through the mobile app to allow customers to check availability from their homes and book instantly. Microfinance Institutions (MFI) Lending A new tablet-based loan origination system developed to digitize the entire lending process of mfi business. This will replace the existing paper based loan sanctioning process. 57 Multicurrency forex cards Axis Bank offer contactless multicurrency forex cards to Indian travelers enabling faster and more convenient transactions while abroad. 58 The same technology has also been extended to the banks Debit and Credit card platforms. 59 The bank has set up an in-house payment gateway that allows for secure e-commerce transaction processing capability and reduces resumes the cost incurred on using external gateways.
40 While transferring money to an account, the sender will not be forced to feed the slew of details like the account number and bank's ifsc code, but can transact using only the vpa. 41 42 Ping pay the bank launched Ping pay in 2015, which is a multi-social payment solution that allows customers to transfer funds using their smart phones to both Axis Bank accounts and other banks' account holders. 43 44 Augmented reality Axis Bank augmented reality feature within its mobile app which lists all the dining father's destinations, property lists, shopping centers, bank atms, branches and many other things not only as a location on gps but also in real life pictures along with. Axis Thought Factory The innovation hub located in Bengaluru, has an in-house innovation team and an accelerator programme. 48 The Innovation Lab work closely with business the startup community that is redefining banking in the digital era. With this launch, Axis Bank becomes the first Indian bank to introduce a dedicated innovation lab in the country. Insta personal loan Axis Bank provide a 24X7 Instant Personal loan on smartphones and atm kiosks.
33 International Banking The bank continues to offer corporate banking, trade finance, treasury and risk management solutions through the branches at Singapore, hong Kong, difc, shanghai and Colombo, and also retail liability products from its branches at Hong Kong and Colombo. 34 The representative office at Dhaka was inaugurated during the current financial rough the representative office at Dhaka. 35 Controversies related to Ethics 2016 Demonetisation related Money laundering Following the 2016 Indian Banknote demonetisation, a number of Axis Bank employees were arrested for facilitating money laundering activities. 36 37 Some media outlets highlighted the disproportionate amount of cases involving the bank, and claimed that the bank's aggressive performance targets and internal culture fostered such activities and that the blame does not lie solely in the hands of arrested employees. 38 Operation Red Spider An Indian online magazine conducted a sting operation which was publicised along with 2013 videos evidence showing a wide range of violations and money-laundering schemes by top officials at a number of Indian banks, including Axis Bank. Consequently, penalty of Rs 5 crore on Axis Bank,.5 crore on hdfc bank and Rs 1 crore on icici bank was imposed by reserve bank of India. 39 Initiatives Axis pay the newly introduced upi will facilitate banking transactions using only a single 'virtual payment Address' (VPA).
Download forms E-statement - axis Bank
Liability products including current accounts, certificates and deposits and time deposits are also offered to large and mid-corporate segments. Transaction Banking :Formed in April 2015, TxB provides integrated products and services to customers in areas of current accounts, cash management services, capital market services, trade, foreign exchange and derivatives, cross-border trade and correspondent banking services and tax collections on behalf of the government and. 32 Treasury :The Treasury manages the funding position of the bank and also manages and maintains its regulatory reserve requirements. It invests in sovereign and corporate debt instruments and engages in proprietary trading in equity and fixed income securities, foreign exchange, currency futures and options. It also invests in commercial papers, mutual funds and floating rate instruments as part of the management of short-term surplus liquidity.
In addition, it also offers a wide range of treasury products and services to corporate customers. Syndication :The bank also provides services of placement and syndication in the form of local currency bonds, pet rupee and foreign term loans and external commercial borrowings. Investment Banking and Trustee services :The bank provides investment banking and trusteeship services through its owned subsidiaries. Axis mumbai Capital Limited provides investment banking services relating to equity capital markets, institutional stock broking besides m a advisory. Axis Trustee services Limited is engaged in trusteeship activities, acting as debenture trustee and as trustee to various securitization trusts.
The bank incurred.7 billion (US400 million) on employee benefits during the fy 201213. 21 The average age of an Axis Bank employee is 29 years. 22 The attrition rate in Axis Bank is approx. 23 Operations Indian Business As of, the bank had a network of 3,120 branches and extension counters and 12,922 atms. 24 Axis Bank has the largest atm network among private banks in India 25 26 and it operates an atm at one of the worlds highest sites at Thegu, sikkim at a height of 4,023 meters (13,200 ft) above sea level.
27 Bank is having branches in India in the following States/UTs Andaman And Nicobar Island Andhra Pradesh Arunachal Pradesh Assam Bihar Chandigarh Chhattisgarh Dadra And Nagar haveli daman And diu delhi goa gujarat Haryana himachal Pradesh Jammu And Kashmir Jharkhand Karnataka kerala madhya pradesh Maharashtra. 29 In addition to the above, the bank has a presence in uk with its wholly owned subsidiary Axis Bank uk limited. 30 Services Retail Banking In the retail category, the bank offers services such as lending to individuals/small businesses subject to the orientation, product and granularity criterion, along with liability products, card services, Internet banking, automated teller machines (ATM) services, depository, financial advisory services, and Non-resident. 21 Axis bank is a participant in rbi's neft enabled participating banks list. 31 Corporate banking Credit :The bank offers various loan and fee-based products and services to large and Mid-corporate customers and Small and Medium Enterprise (SME) businesses. These products and services include cash credit facilities, demand and short-term loans, project finance, export credit, factoring, channel financing, structured products, discounting of bills, documentary credits, guarantees, foreign exchange and derivative products.
Personal Banking Internet Banking corporate, nri banking
16 In 2011, Axis bank inaugurated apple Axis house, its new corporate office in Worli, presentation mumbai. 17 In 2013, Axis Bank's subsidiary, axis Bank uk commenced banking operations. Axis Bank uk has a branch in London. 18 deepika padukone, a mumbai film Industry (a.k.a. Bollywood ) actress is the brand ambassador of Axis Bank. 19 In 2015, Axis Bank opens its representative office in Dhaka. 20 The bank has over 50,000 employees (as of ).
12 uti bank opened its first overseas branch in 2006 Singapore. That same year it opened a representative office in Shanghai, china. Uti bank opened a branch in the dubai international Financial Centre in 2007. That same year it began branch operations in Hong Kong. In 2008 it opened a representative office in Dubai. 13 With effect from July 30, 2007, uti bank changed its name to Axis Bank. 14 Axis Bank love opened a branch in Colombo in October 2011, as a licensed Commercial Bank supervised by the central Bank of Sri lanka., axis Bank opened a representative offices in Abu Dhabi.
the new India assurance company, the Oriental Insurance corporation and. United India insurance company. In 2001 uti bank agreed to merge with and amalgamate. Global Trust Bank, but the reserve bank of India (RBI) withheld approval and nothing came of this. In 2004 the rbi put Global Trust into moratorium and supervised its merger into Oriental Bank of Commerce. In 2003 uti bank became the first Indian bank to launch the travel currency card. 10 11 In 2005, uti bank got listed on London Stock Exchange.
2016,.81 shares are owned by promoters promoter group (. United India insurance company limited, oriental Insurance company limited, national Insurance company limited, new India assurance company Ltd, gic, lic uti ). 6, remaining.19 shares are owned by mutual Funds Institutions, fiis, financial Institutions (banks Insurance companies, corporate bodies individual investors among others. 7, contents, history, uti bank opened its registered office remote in Ahmedabad and corporate office. Mumbai in December 1993. 8, the first branch was inaugurated. Manmohan Singh, the finance minister of India. Uti bank began its operations in 1993, after the.
Loan Repayment - axis Bank
Axis Bank is the third largest of the private-sector banks in India offering a comprehensive suite of financial products. The bank has its head office. Mumbai and registered office in Ahmedabad. It has 3,304 branches, 14,000 long atms, and nine international offices. The bank employs over 55,000 people and had a market capitalization.28 trillion (US19 billion) (as on March 31, 2017). 4, it sells financial services to large and mid-size corporates, sme, and retail businesses. 1, as of 30 Jun.