Axis Bank Ltd.

Brihanmumbai Municipal Corporation (BMC) has invested only Rs 1 crore in fixed deposit with the Axis Bank out of its investments worth Rs 6,300 crore in nine banks in January. This has offered an annual interest rate of 6.5 per cent, as per the document presented by the civic administration to the BMC’s standing committee.

The document indicates that the FD amount invested by the BMC in the Axis Bank is the lowest among all its investments made in nine banks. The civic body's FD with the bank will mature in July 2021.

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.