Axis Bank Open to Collaboration with Paytm, Pending Regulatory Approval

12 Feb 2024 , 03:15 PM

Axis Bank’s CEO, Amitabh Chaudhry, expresses willingness to collaborate with Paytm, contingent on regulatory approval from the RBI. Chaudhry highlights the significance of Paytm as an important player in the potential collaboration.

Arjun Chowdhry, Axis Bank’s Group Executive, notes ongoing discussions with Paytm, focusing on general business services, not specific to any particular aspect.

Discussions with Paytm involve new initiatives after the developments on January 31. Axis Bank, formerly UTI Bank, is an Indian financial services company headquartered in Mumbai.

It ranks as India’s third-largest private sector bank by assets and fourth-largest by market capitalization. Axis Bank provides financial services to large and mid-size companies, SMEs, and retail businesses. Established on December 3, 1993, it was jointly promoted by entities like UTI, LIC, and various insurance companies.

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