Yet another on-campus banking facility enhances
ease of doing business in Sri City
Sri City, December 15, 2022:
Considering the business potential of Sri City and its units, and also to extend banking facilities in unbanked areas and to promote financial inclusion of rural population in around Sri City, the Axis Bank, one of the third largest private banks in the country, has opened its branch in the Integrated Business City. Mr. N. Chakravarthy Executive Vice president of the bank inaugurated the services of the branch in the presence Mr. Madhu Babu, Customs Specified Officer, Mr. Nagarajan, Chief Financial Officer and other dignitaries. “Through this new branch, we will provide a wide range of banking services in the region,” Mr. Chakravarthy said. The branch is located at the Ground Floor, Shopping Arcade Building, opp. to Sri City Trade Centre, on the Central Expressway.
Axis Bank is the fourth bank in SriCity. Three major commercial banks, viz. State Bank of India, Canara Bank and ICICI Bank are already rendering services for the past few years. As a trade facilitation measure, the local State Bank of India offers the service of collecting Customs Duty, and all the units of the SEZ find it very convenient as the collection counter is available at their doorstep. Presence of four commercial banks improves the banking services not only to the industries and employees, but also to the rural public in and around Sri City. In addition to the normal banking transactions and ATM services, these banks give loans to organisations in either cash credits, overdrafts, term loans, purchase/discounting of bills, or issue of letter of credit. They help enterprises by providing loans to produce goods and contribute towards industrial growth and generate employment opportunities. Banking services to population in the region help to ushering in economic revolution that changes the profile of the village and the life of its residents.
