Axis Bank rises on inking MoU with IRMA to foster financial inclusion, literacy in India
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Axis Bank is currently trading at Rs. 1012.00, up by 2.70 points or 0.27% from its previous closing of Rs. 1009.30 on the BSE.
The scrip opened at Rs. 1009.25 and has touched a high and low of Rs. 1014.00 and Rs. 1005.50 respectively. So far 21665 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1047.45 on 20-Sep-2023 and a 52 week low of Rs. 814.25 on 16-Mar-2023.
Last one week high and low of the scrip stood at Rs. 1015.90 and Rs. 968.00 respectively. The current market cap of the company is Rs. 312196.20 crore.
The promoters holding in the company stood at 8.22%, while Institutions and Non-Institutions held 82.03% and 9.76% respectively.
Axis Bank has signed a Memorandum of Understanding (MoU) with the Institute of Rural Management Anand (IRMA), to establish the Axis Bank Chair for Financial Inclusion at IRMA. Constituted for a period of 5 years, the Chair will primarily focus on research, deepening industry-academia collaboration, driving thought leadership and policy advocacy. The Chair is established to strengthen and accelerate greater financial inclusion (FI) and financial literacy in India.
The primary objective of the Chair is to conduct and coordinate field-based research for the purpose of supporting national and state-level policies towards financial inclusion. This includes designing financial inclusion strategies in and for India, capacity building for the banking sector in the domain of financial inclusion, conducting workshops, round tables, and symposia, and undertaking teaching courses at the Institute.
As part of the collaboration, IRMA and Axis Bank shall set up a Joint Advisory Committee that will oversee the selection process for the Chair, finalize the terms, and periodically review its progress. The agreement also proposes to support two Research Associates under the Chair.
Axis Bank is the third largest private sector bank in India. The bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses.
