Axis Bank’s retail microfinance ‘Axis Sahyog’ launched in Assam

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HT Bureau

Guwahati, Aug 20:  Axis Bank, the country’s third largest private sector lender, on Monday announced the launch of its retail lending microfinance initiative- ‘Axis Sahyog’ in Assam. The programme will help in extending credit to the economically active, but under – banked, rural population in the region, particularly women.  Axis Sahyog retail microfinance programme was launched by the bank in 2013 with an objective to empower families in unbanked and under-banked regions and bring them into the banking fold.

It is associated with more than 1.2 million customers with its presence in 17 states and 1 Union Territory. Axis bank had initiated a pilot for Axis Sahyog in Nagaon and Tezpur branches in the state. Loans from Axis Sahyog range from Rs 12,000- Rs 20,000. The bank is in the process of expanding Axis Sahyog to 20 districts, with an aim to financially empower more than 60,000 rural women by March-end, 2019.

Speaking on the launch event, minister of state for irrigation Bhabesh Kalita has urged the rural women to March forward and avail ‘Axis Sahyog’.

Axis Bank’s regional branch banking head (East) Lal Singh, said, “We are delighted to launch Axis Sahyog in Assam. I am happy to announce that we have plans to start Sahyog in other North Eastern states starting with Tripura, Meghalaya and Nagaland. At Axis Bank, our endeavour has always been to empower people to get access to finance quickly and easily, when and where required. Axis Sahyog will enable rural consumers to avail credit easily which will help them to increase their productivity and increase their income.”

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