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Axis Bank inaugurates New Branch at GIFT City for retail and institutional customers

Ahmedabad, June 28, 2024: Axis Bank, one of the largest private sector banks in India, inaugurated its first domestic retail branch at Gujarat International Finance Tec-City (GIFT City), expanding its footprint in India’s first operational smart city and international financial services center. The branch was inaugurated by Chief Guest – Ms. Mira Patel, Mayor, Municipal Corporation – GandhinagarMr. Tapan Ray, MD & Group CEO, GIFT City, Gandhinagar in the presence of Axis Bank representatives –

Ms. Arnika Dixit, President and Head – Branch Banking; Mr. Rakesh Bhojnagarwala, Regional Branch Banking Head – West 2; Mr. Sudhir Narayan, Branch Head – GIFT City and other bank officials. The branch will cater to the banking needs of both retail and institutional customers, offering a range of products and services such as savings accounts, fixed deposits, loans, forex, trade finance, and treasury solutions.

The new branch is located at Tower D, WTC Block No. 51, Road No. 51, Shop 10 & 11, GIFT City, Gandhinagar, Gujarat, India – 382355.

With the launch of this branch, Axis Bank will offer a comprehensive and enhanced digital experience to deposit account holders. It will enable NRI customers to initiate US Dollar fixed deposits seamlessly through the Axis Bank mobile banking application.

The new domestic retail branch at GIFT City will complement Axis Bank’s existing banking unit, which focuses exclusively on international business within the International Financial Services Centre (IFSC). This branch will cater to the rapidly evolving residential and commercial sectors within GIFT City, providing much-needed banking services to the growing community of startups, residential projects, and other businesses.

It will extend a diverse range of banking services such as Current Accounts/Savings Accounts, Corporate Salary, Retail Liabilities, Retail Assets, Home Loans, Forex Transactions, Unsecured Loans, Credit Cards, and Special Non-Residential Rupee Accounts. Additionally, the Bank will offer unique facilities like the BNA (Bunch Note Acceptors) ATM machine.

Commenting on the inauguration of the branch, Ms. Arnika Dixit, President and Head – Branch Banking, Axis Bank said, “We are excited to launch our first domestic retail branch of GIFT City, a burgeoning hub for both commercial and residential growth. The new branch is a testament to Axis Bank’s vision to harness the potential of emerging markets and contribute to the economic development of Ahmedabad and Gandhinagar.

Our presence here will cater to the diverse banking needs of our customers, while leveraging the strategic advantages and the unique ecosystem of GIFT City to foster economic growth and innovation in this Special Economic Zone. We look forward to building long-lasting relationships with our customers and partners in GIFT City and contributing to its development as a global financial hub.

GIFT City, recognized as India’s first IFSC under SEZ, offers significant tax advantages and a thriving ecosystem, making it an ideal location for the Bank’s expansion. With the anticipated economic growth in Ahmedabad and Gandhinagar over the next five years, the new branch is well-positioned to support and benefit from this development.

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