Axis Bank logs 1 million micro-borrowers

The bank has ruled out any buyout

Private lender Axis Bank has touched 1 million micro-borrowers mark and is not keen on acquiring stake in any microlender, a senior official has said.

Three years after getting into the segment, the bank touched 1 million borrowers mark recently and all of them are women who have availed of credit through the joint lending group model, Axis Bank’s retail banking head Rajiv Anand said.

Stating that the book stands at Rs 1,100 crore now, he hinted that the bank would focus on expanding the business organically rather than buying into a microfinance company. 

“As of now, we don’t believe there is any