Business Update24 Jan 2024, 09:02 pm
Axis Bank to Invest Up to Rs. 100 Crore in New Wholly-Owned Subsidiary
AI Summary
Axis Bank Limited has approved investment of up to Rs. 100 crore in a new wholly-owned subsidiary company to act as Business Correspondent and Technology Service Provider. The subsidiary will be incorporated by April 30, 2024, and the initial investment will be Rs. 40 crore.,
Key Highlights
- Investment in new wholly-owned subsidiary
- Business Correspondent and Technology Service Provider
- Approval from Reserve Bank of India
- Rs. 100 crore investment
- Incorporation by April 30, 2024