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Saturday, June 22, 2019

Axis Bank has partnered with the Tamil Nadu Government to offer payment solutions.!

Axis Bank reinforces its commitment towards Tamil Nadu

Chennai, June 21, 2019:Mr. Ravi Narayanan, President & Head Branch Banking, Axis Bank summarized the importance of branch banking and the Bank’s initiatives in the state of Tamil Nadu.In line with the overall growth strategy, the Bank will expand branches and focus on retail banking.

The Bank, India’s third largest in the private space, has strong branch network presence across India. As on March 31st, 2019, the Bank has 4050 branches, 11,801 ATMs and 4,917 recyclers across the country. It has added 347 branches Pan India in FY19. Currently, there are 314 branches and 1400 ATMs in TN.   The Bank plans to expand its foothold in Tamil Nadu by setting up 28 branches and 34 ATMs in Tamil Nadu by FY20. In total,31 branches are enabled for Aadhaar enrolment and updationacross TN.

Axis Bank has partnered with the Tamil Nadu Government to offer payment solutions to various government institutions and local bodies like Municipal Corporations of Tamil Nadu, Greater Chennai Corporation, Tamil Nadu Electricity Board etc. 

The Bank has partnered with the State Government & local authorities for following initiatives –

Farming & Livelihood

1.      Tamil Nadu Milk Producers Cooperative Federation Ltd (AAVIN): Cash Management services & Online payment to vendors

2.      Tamil Nadu Horticulture Development Agency: Payment Solution - Payment to beneficiaries through PFMS (Public Financial Management System). On-boarded district level nodal accounts

3.      Tamil Nadu Agri Marketing Board:  Integrated with both Marketing Board & NEML (NCDEX e Market Ltd.) for online payments to farmers under Minimum Support Price across the state

4.      Tamil Nadu Livestock Agency: Handle Central & State Govt. Scheme Funds and payments to implementing agencies

5.      Department of Animal Husbandry for Free sheep and goat scheme: Payments to beneficiaries across the state

6.      Municipal Corporations of Tamil Nadu: Collection of taxes and managing payments for various schemes like Swaach Bharat Mission, Solid Waste Management etc.

Payment Solutions for Schools & Colleges

1.      IIT Chennai: Collections of sponsorships

2.      University of Madras: Forex solution - Making payments to overseas examiners

3.      Alagappa University &Bharatidasan University: Easy pay online solution for student fee collections

4.      Government Medical Colleges and Hospitals: Handling payments for both Central and State schemes through PFMS for the Medical Colleges of Coimbatore, Salem, Trichy, Thiruvarur, Thanjavur and Madurai

5.      Tamilnadu Textbook Corporation: Collection of sale proceeds of text books from schools of Tamilnadu (Nearly 4000 schools).


1.      Tamil Nadu Electricity Board (TANGEDCO): Online and Offline Collection of Electricity bills for the state of Tamil Nadu

2.      Defence Segment: Cash Management services and POS machines provided for canteen collections across Tamil Nadu. NACH solution provided for collection of monthly consumable bills to the Defence staff

3.      Rural Development &Panchayatraj: Payment solution -Payment of scheme funds to beneficiaries

4.      Neyveli Lignite Limited : Sanctioned and disbursed the term loan of Rs. 950 cr for their 500 MW solar power project

5.      Kamarajar Port: Host-to-Host solution provided for their payments and Term Loan of 47 million USD disbursed for construction and upgradation of the port

6.      Tuticorin Port : Easypay online facility for customs duty collections

Axis Bank has also conducted 791 Financial Literacy Campaigns in FY19 across rural and unbanked branches to educate the people about basic banking, social security schemes, usage of RUPAY card, usage of Axis OK, micro ATM and Mobile App.

As a part of its CSR initiatives, Axis Bank Foundation has associated with local social enterprises to work on projects related to rural livelihood and skill developments. Few of the initiatives are –
ABF partnered with DhanVayalagam (Tank) Foundation - (DVTF) to focus on increasing household income through community mobilization. In phase 1, the program reached out to 49,114 individuals/livelihoods and in Phase 2, the program aims to target 70,000 families/households in 5 years program, starting from April ‘17.
Through its partnership with Youth 4 Jobs Foundation (Y4JF), ABF aims to provide 15,750 PwDs with livelihood opportunities by market linked trainings and jobs in the organized sector and also sensitizes employers about capabilities of PwDs. The program will reach out to 1,940 PwDs in the state of Tamil Nadu - Chennai, Coimbatore andTrichy. In FY19-20, the project will be operational in Telangana, Andhra Pradesh, Tamil Nadu, Karnataka, Maharashtra, Rajasthan, Gujarat, Odisha, Jharkhand, Assam, West Bengal and Bihar.
ABF has also associated with Don Bosco Tech Society (DB Tech) to impart skill development and vocationaltraining to youth. The program aims to reach out 150 youthsin the State of Tamil Nadu. In FY 19-20, the program will be operational in Tamil Nadu, Uttar Pradesh, Bihar, West Bengal, Madhya
Pradesh, Andhra Pradesh, Kerala, Punjab, Rajasthan, Delhi and Chandigarh.

About Axis Bank:                                                                      
Axis Bank is the third largest private sector bank in India. Axis Bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses. With its 3,964 domestic branches (including extension counters) and 12,705 ATMs across the country as on 31st December 2018, the network of Axis Bank spreads across 2,321cities and towns, enabling the Bank to reach out to a large cross-section of customers with an array of products and services. The Bank also has ten overseas offices with branches at Singapore, Hong Kong, Dubai (at the DIFC), Shanghai and Colombo; representative offices at Dubai, Abu Dhabi, Sharjah and Dhaka and an overseas subsidiary at London, UK.

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Axis Bank has partnered with the Tamil Nadu Government to offer payment solutions.! Reviewed by Investment Guru on June 22, 2019 Rating: 5 Axis Bank reinforces its commitment towards Tamil Nadu Chennai, June 21, 2019: Mr. Ravi Narayanan, President & Head Branch Banki...

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