Axis Bank to open more rural branches in state

Axis Bank, the country's third largest private sector lender said it is committed to open more branches in Odisha, particularly in rural unbanked areas of the state.

"Currently, we have 32 rural branches, which have been set up in areas having no banking facility. We have set up 27 such branches in just 45 days in 16 districts and three more branches will come up in the next 15 days," said B B Choudhury, vice president and circle head of Axis Bank at a press meet. The opening of the rural branches is a part of the bank's plan to increase its footprint in the unbanked areas of Himachal Pradesh, Gujarat, Punjab, Haryana and Odisha. The bank has plans to open 30 rural branches in the state in the current fiscal.

Axis Bank recently opened its 100th branch near the Jagmara locality in the city. Out of 100 branches, 32 are rural unbanked areas, nine in rural areas, 38 in semi-urban areas and 21 in urban areas.

It has a dedicated SME (small & medium enterprises) cell, a retail asset centre, a currency chest and two service branches in the state.

The bank has so far rolled out 1,845 Kisan Credit Cards and aims to release 4,000 cards by the end of this financial year. It has targeted to disburse Rs 25 crore in 2013-14 through this facility, said Debarchan Mishra, executive vice president and regional distribution head (east) of the bank.