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Tag: Axis Bank

business

Axis Bank and Next Bharat Ventures Collaborate for Impact-Driven Working Capital Solutions

Sep 26, 2024 by Sujata 0 Comments #Axis Bank, #Next Bharat Venture

Nagpur, 26th September 2024: Axis Bank, one of the largest private sector banks in India, signed a Memorandum of Understanding (MoU) with Next Bharat Ventures IFSC Private Limited, a subsidiary of Suzuki Motor Corporation in Japan, to provide tailored Working Capital Financing Solutions to impact-driven startups and Micro and Small Enterprises (MSME). This collaboration will enable MSMEs to secure credit without the traditional collateral, thereby reducing financial hindrances and simplifying access to capital needed for business growth.

Through this initiative, Axis Bank will extend support to MSMEs across key sectors, who are part of Next Bharat Ventures’ Residency Program. This four-month program, launching its first cohort in October 2024, is designed to empower entrepreneurs committed to driving impact in India’s rural and informal sectors. The startups selected under the program will have access to Axis Bank’s comprehensive range of financial services and solutions, tailored to meet their specific needs.

The partnership will leverage Axis Bank’s vast network of branches across India to deliver these financing solutions and simplify the credit evaluation process, thereby making it easier for startups to obtain debt financing. With a strong focus on Tier 2 and Tier 3 regions, this initiative will not only promote financial inclusion but also foster long-term economic growth in these underserved areas.

Speaking on the occasion, Munish Sharda, Executive Director, Axis Bank, said, “At Axis Bank, we recognize the pivotal role that entrepreneurs, especially those in the underserved regions, play in driving India’s economic growth. This collaboration with Next Venture underscores our commitment to foster innovation and empower the entrepreneurial ecosystem, leading to the growth of India’s rural economy. By leveraging our financial expertise and extensive branch network, we aim to help these entrepreneurs scale their operations and achieve sustainable growth. This strategic collaboration reinforces our commitment to financial inclusion, giving us the opportunity to support the next generation of socially impactful business leaders.”

Vipul Nath Jindal, MD and CEO of Next Bharat Ventures, commented, “This partnership with Axis Bank marks an advancement to build a sustainable financial ecosystem for impact-driven entrepreneurs in India. By combining Axis Bank’s financial expertise in providing debt funding with Next Bharat’s tailored support for innovative social ventures, we are excited to see the advancement of high-impact startups in Bharat.”

By integrating Axis Bank’s financial capabilities with Next Bharat Ventures’ focus on nurturing social enterprises, the partnership aims to build a more inclusive and sustainable financial ecosystem for

entrepreneurs while positioning them for long term success as self-sustaining MSMEs. The collaboration will ensure that essential financial support reaches entrepreneurs in underserved regions, empowering them to drive meaningful economic progress and create lasting impact in their communities.

business

SystemSePay | SystemXs.ai Debuts at Global Fintech Festival

Sep 3, 2024 by Sujata 0 Comments #Axis Bank, #cards, #financial management, #Global Fintech Festival, #Global Fintech Festival (GFF) 2024, #Gopal Rohra, #multiple banking systems, #net banking, #NPCI-Bharat Bill Payment Limited (NBBL), #Sunil Ghumatkar, #SystemSePay, #SystemXs.ai, #UPI, #Vishal Shetty

Mumbai, India – 3rd  Sep 2024: SystemSePay | SystemXs.ai Debuts at Global Fintech Festival GFF-2024, Ushering in a New Era of B2B Invoice-Based Payment Systems.

SystemXs.ai - 4

SystemSePay, an innovative and fully interoperable invoice-based payments system, was officially showcased at the prestigious Global Fintech Festival (GFF) 2024. The product showcase event was officiated by Mr. Sunil Ghumatkar, Managing Director; Mr. Vishal Shetty, Director of Product Development; and Mr. Gopal Rohra, Director of Technology.

SystemSePay is set to transform the B2B payments landscape with its comprehensive suite of features, specifically designed to streamline and automate business transactions. The platform enables businesses to seamlessly onboard as buyers or sellers, generate unique B2B IDs, and efficiently manage invoices. From raising, sending, and receiving invoices to processing them directly within the system, businesses can now optimize their transactions for greater efficiency. The platform also empowers users to accept or reject invoices, receive acknowledgments, and send automated payment reminders, ensuring that settlements are timely and accurate.

Additionally, SystemSePay offers diverse payment options, including UPI, net banking, and cards, to meet the varied needs of businesses across industries. The platform also supports invoice discounting in the next phase of its launch, providing opportunities for businesses to benefit from early payment discounts, which can enhance cash flow and financial planning. To further improve financial management, SystemSePay includes functionalities for downloading payment receipts, automating accounting entries, and streamlining bank reconciliation and settlement processes.

As a Participating Agent Institution under NPCI-Bharat Bill Payment Limited (NBBL), with Axis Bank as its operating unit, SystemSePay stands as an interoperable invoice-based payments platform uniquely positioned to facilitate fully connected B2B transactions across multiple banking systems. This platform acts as a crucial link in the digital payments infrastructure, enabling businesses to conduct transactions with unprecedented ease and security.

During the event, it was emphasized that “SystemSePay is more than just a payment platform; it represents a groundbreaking leap in the digital transformation of India’s B2B sector. By streamlining complex transactions and equipping businesses with the tools they need to thrive, SystemSePay is poised to reshape the business landscape across the country. It offers unparalleled efficiency and opens up vast growth opportunities for businesses nationwide.”

“#AbbIndiaBolegaSystemSePayKaro!”

news

Axis Bank organizes cleanliness drive at Nandi Hills in Bangalore

Jun 10, 2024 by Gayathri Pariti 0 Comments #Axis Bank, #Bangalore, #Ms. Arnika Dixit, #Nandi Hills in Bangalore, #One of the largest private sector banks in India, #World Environment Day 2024

Bangalore, June 10, 2024: To mark World Environment Day 2024, Axis Bank, one of the largest private sector banks in India, organized ‘Open for the Planet Clean-A-Thon’- a cleanliness drive at Nandi Hills in Bangalore. More than 111+ volunteers including the Bank’s branch employees, local communities, environmental activists/influencers, local authorities participated in this initiative and collected 106 kg of waste from the tourist site. The volunteers also educated the local people about the importance of environmental sustainability and cleanliness.

Clean-a-thon_Nandi Hills, Bangalore Image

The Bank’s ‘Open for the Planet’ Clean-a-thon campaign will run from 5th – 12th June, covering 20+ high-footfall tourist destinations across India, including cities such as Mumbai, Pune, Varanasi, New Delhi, Guwahati, Vishakhapatnam, and Hyderabad. This initiative aligns with the United Nations’ overarching theme for World Environment Day 2024: “Our land. Our future. We are #GenerationRestoration.

Applauding the efforts of the participants, Ms. Arnika Dixit, President and Head – Branch Banking, Axis Bank said, “At Axis Bank, we firmly believe that the responsibility to protect our planet lies with each one of us, and through this initiative, we aim to instill a sense of environmental consciousness and responsibility amongst fellow citizens. We hope that through this initiative, our collective efforts will teach the next generation about the importance of protecting our environment to safeguard the future.”

business

Axis Bank Partners with VST Tillers Tractors Ltd to Offer Financial Solutions to Farmers for Farm Equipments

May 22, 2024 by Gayathri Pariti 0 Comments #Axis Bank, #Chandigarh, #Financial solution, #Financial Solutions to Farmers, #Mr. Munish Sharda, #Mr. Rajesh Dhage, #Mr. Ramasawmy Gopalakrishnan, #one of the leading private sector banks in India, #VST Tillers Tractors Limited, #VST Tillers Tractors Ltd

Chandigarh, 22 May 2024: Axis Bank, one of the leading private sector banks in India signed a Memorandum of Understanding (MOU) with VST Tillers Tractors Limited (VST), India’s leading farm equipment manufacturer, to offer financial solutions to the farmers for purchasing tractors and farm mechanisation products. As per the agreement, Axis Bank will provide financial solutions to VST’s prospective customers through its extensive network of 5370+ branches spread across geography.

Axis Bank signs MoU with VST Tillers Tractors Limited

The MOU was signed by Mr. Rajesh Dhage, Business Head of Farm Mechanization, Axis Bank, and Mr. Antony Cherukara, CEO of VST Tillers Tractors Ltd in the gracious presence of Mr. Ramasawmy Gopalakrishnan, Head – Retail Assets for Bharat Banking, Axis Bank, and Mr. V T Ravindra, Managing Director of VST Tillers Tractors Ltd.

Axis Bank will leverage its extensive footprint to reach out to the farmer community to ensure that they have an easy access to credit facility for adapting farm mechanization. This partnership will enable farmers to avail hassle-free, affordable, and flexible credit facilities to transform the agricultural sector. The Bank will offer flexible repayment options, swift sanctions, and special benefits on EMI options to encourage the farmers to opt for adapting farm mechanization.

Mr. Munish Sharda, Executive Director and Head – Bharat Banking, Axis Bank, said, “It has been our constant endeavour to engage and empower rural communities and marginal farmers by providing them with the most suitable financial solutions. By partnering with VST Tillers & Tractors, we have combined forces to address various financial challenges faced by these communities, while encouraging them to adopt effective farming techniques. As we strengthen our alliance with numerous partners and pioneers from rural India, we are confident of making a positive and meaningful impact in the lives of millions of farmers across the nation.”

business

VST Tillers Tractors Ltd and Axis Bank partners to offer Financial Solutions to Farmers for Farm Equipment’s

May 22, 2024 by Sujata 0 Comments #Antony Cherukara, #Axis Bank, #Bharat Banking, #Farm Mechanisation products, #Mr. Antony Cherukara, #Munish Sharda, #private sector banks, #private sector banks in India, #Rajesh Dhage, #Ramasawmy Gopalakrishnan, #V T Ravindra, #VST Tillers Tractors Limited (VST), #VST Tillers Tractors Ltd

Bengaluru, 22nd May 2024: VST Tillers Tractors Limited (VST), India’s leading farm equipment manufacturer, signed a Memorandum of Understanding (MOU) with Axis Bank, one of the leading private sector banks in India, to offer financial solutions to the farmers for purchasing tractors and Farm Mechanisation products. As per the agreement, Axis Bank will provide financial solutions to VST’s prospective customers through its extensive network of 5370+ branches spread across geography.

VST Tractors and Axis bank

The MOU was signed by Mr. Antony Cherukara, CEO of VST Tillers Tractors Ltd and Mr. Rajesh Dhage, Business Head of Farm Mechanization, Axis Bank, in the gracious presence of Mr Ramasawmy Gopalakrishnan, Head – Retail Assets for Bharat Banking, Axis Bank, and Mr. V T Ravindra, Managing Director of VST Tillers Tractors Ltd.

As per the MOU both the companies will leverage their extensive footprint to reach out to the farmers community to ensure that they have an easy access to credit facility for adapting farm mechanization. This partnership will enable farmers to avail hassle-free, affordable, and flexible credit facilities to transform the agricultural sector. The Bank will offer flexible repayment options, swift sanctions, and special benefits on EMI options to encourage the farmers to opt for adapting farm mechanization.

Speaking on the occasion of signing the MOU, Mr Antony Cherukara, CEO, of VST Tillers Tractors Ltd. said “We are delighted to partner with one of the leading Banks in the country and make our innovative farm equipment more accessible and affordable to farmers. Our partnership is aligned with our joint goal of enabling farmers in rural India to mechanize farming and thereby increase productivity. At VST, it is our constant endeavour to facilitate ease of farming, by bringing down the overall time and cost of farming and improving output and farm income. We are sure that this MoU will especially help small and marginal farmers in availing hassle-free credit facilities for buying our products.”

Mr. Munish Sharda, Executive Director, and Head – Bharat Banking, Axis Bank, said, “It has been our constant endeavour to engage and empower rural communities and marginal farmers by providing them with the most suitable financial solutions. By partnering with VST Tillers Tractors Ltd, we have combined forces to address various financial challenges faced by these communities, while encouraging them to adopt effective farming techniques. As we strengthen our alliance with numerous partners and pioneers from rural India, we are confident of making a positive and meaningful impact in the lives of millions of farmers across the nation.”

Both organizations share a common vision of empowering farmer community by providing hassle-free solutions and encouraging entrepreneurship in the agricultural sector. Axis Bank will offer easy finance options, with minimal documentation, to encourage farmers to adopt innovative techniques for enhancing their productivity and thereby, increase their income. This collaboration is an important step towards supporting and empowering the agricultural sector.