Axis Bank is planning to open 750 urban branches over the next two fiscals. The bank has inaugurated 250 branches in unbanked areas in FY 2014 as per the regulatory requirement.
As part of its financial inclusion drive, RBI in May 2013 allowed banks to front-load their 25% mandatory new branches in unbanked areas and carry forward to open the remaining 75% new branches in urban areas over the next three years. This gives the city-based bank the opportunity to have over 750 branches in the better-performing areas in tier-I, II and III centres.
Axis has around 2,300 branches, 52% of them in the semi-urban, rural and unbanked areas.
