Axis Mutual Fund unveils digital solution to unlock Rs25 trillion MSME opportunity
Axis Mutual Fund (MF) is targeting a Rs25 trillion opportunity in micro, small and medium enterprises (MSMEs) current account balances with the launch of a digital working capital management platform that enables businesses to digitally invest surplus cash in liquid and MF schemes.
According to the asset manager, Axis Account Plus is the first digital working capital management solution by a fund house. It enables businesses to complete digital onboarding and offers treasury management features such as maker-checker approvals, a consolidated view across multiple entities and instant transaction alerts.
"There is around Rs25 trillion lying in current accounts that give zero or negligible returns. The solution is aimed at improving returns on surplus working capital while making the process completely frictionless," said B Gopkumar, managing director and chief executive officer, Axis Asset Management Company.
