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Deal confirmed: Axis Bank buys FreeCharge from Snapdeal for $60 mn

Axis Bank's financial chief put the move in context, saying digital payments were surging in India

Reuters  |  Mumbai 

Axis Bank Ltd , India's seventh-biggest lender by assets, said on Thursday it had agreed to buy mobile payments wallet provider FreeCharge from e-commerce company Snapdeal for Rs 385 crore ($60.04 million).   ALSO READ: Freecharge sold to Axis for $60 million: The facts and details "Digital payments in India are surging. Government policies are driving a less-cash economy," Axis Bank finance chief Jairam Sridharan told a news conference after announcing the deal.   Happy to announce the partnership between Axis Bank and Freecharge. A great ...

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First Published: Thu, July 27 2017. 13:14 IST