- Axis Bank launches Women’s Small Business Banking (SBB) proposition
- Initiative is taken to support women-led business entities
- Focus is on providing access to affordable and structured financial solutions
Axis Bank has announced the launch of its Women’s Small Business Banking (SBB) proposition. This is a dedicated initiative aimed at enhancing access to affordable and structured financial solutions for women-led businesses.
The product offers women-led businesses access to structure and affordable financial solutions through a bouquet of products and services including loans and banking and current account benefits.
This is aimed at offering women-led businesses an integrated and comprehensive banking solution for their business needs and requirements.
The women-led MSMEs will be offered preferential pricing, including possible benefits of reduced interest rates for secured and credit guarantee-backed loans. The women-led MSMEs will also be offered specific current account benefits.
The Women’s Small Business Banking proposition is available for all types of business entities, including sole proprietor businesses, partnerships, limited liability partnerships, and private limited companies.
The benefits of the Women’s Small Business Banking program will be available for the entire tenure of the credit facility. The facilities will be available through Axis Bank branches across the country through Small Business Banking teams.
In this context, Vijay Shetty, President and Head of the Commercial Banking Group at Axis Bank, said that women-led micro, small, and medium businesses are significant contributors to the economic development of India.
He also pointed out that with over three crore women-led MSMEs registered on the Udyam platform, the contribution of women-led MSMEs to entrepreneurship, employment, and innovation is rising across the country.
With this initiative, Axis Bank is looking to improve the affordability and financial access of women entrepreneurs to build and sustain their businesses.
The bank also pointed out that the launch is a testament to its continued commitment to inclusive entrepreneurship and long-term support to women-led MSMEs with customized financial solutions.
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