Axis Bank today plans to open 100 branches under its rural banking strategy initiative in tier-III, IV and V cities of the country by this fiscal end.
Expanding its footprint in Tier-III, IV and V, with an objective to tap semi-urban and rural population in under banked areas, the bank opened its first such branch at Bhojpur in Punjab.
The bank's third branch under this initiative was inaugurated in Rajula town of Gujarat.
The bank will be launching five more branches under this rural initiative in Gujarat in next week or so. The branches will come up in towns of Dhrol, Vasana , Gadadha , Manvdar and Bagasara.
The Axis bank recently announced acquisition of investment banking and other businesses of Enam Securities for Rs 2,067 crore, a move that will allow the private sector lender expand its footprint in i-banking and retail broking space.
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