Axis Mutual Fund launches digital working capital solution for corporates, MSMEs
Axis Mutual Fund has launched Axis Account Plus, which it describes as India's first end-to-end digital working capital management solution for corporates and micro, small and medium enterprises (MSMEs), aimed at helping businesses deploy surplus funds into eligible debt and liquid mutual fund schemes through a fully digital platform.
The solution, available through the asset manager's website, enables businesses to complete onboarding, KYC, folio creation and investments online while providing features such as maker-checker approval workflows, a consolidated dashboard across group entities, transaction alerts and dedicated relationship support.
The launch comes as India's mutual fund industry continues to expand its corporate investor base. According to Axis Mutual Fund, nearly Rs 25 lakh crore is estimated to be lying in current accounts that typically earn little or no return. The company also cited data showing India has more than 31 lakh active corporates and limited liability partnerships, along with over 8.6 crore MSMEs registered on the government's Udyam platform, while institutional mutual fund participation remains relatively...
Axis Mutual Fund said the platform is designed to help businesses manage idle working capital between payment cycles, receivables and planned expenditures by investing surplus funds in eligible debt and liquid schemes, while retaining liquidity through features such as same-day redemption, subject to scheme terms.
