Correct Answer : Option (A) - Axis Bank
Announcing a partnership with branchless banking network PayNearby, a senior executive of Axis Bank said on Wednesday(7th Sep 2022) that such tie-ups would aid the private lender in achieving priority sector lending aims.
“The priority sector targets that we have in our own business, if we have a shortfall, we have to build up through PSLCs (priority sector lending certificate) or something else. It is ensuring that we meet the requirements of the bank,” said Munish Sharda, group executive and Head of Bharat Banking.
Axis Bank aims to meet its priority sector lending targets in an organic manner, taking advantage of the PayNearby’s distribution-as-service network of 50 lakh micro businesses.
The tie-up will be used to set up current and savings accounts for both retail and individual customers in remote areas..Source : Business Standard