CURRENT AFFAIRS : BANKING & FINANCE
Axis Bank Collaborates with Institute of Rural Management Anand (IRMA) to Establish Chair for Financial Inclusion
- Axis Bank, one of the largest private sector banks in India, has signed a Memorandum of Understanding (MoU) with the Institute of Rural Management Anand (IRMA), to establish the Axis Bank Chair for Financial Inclusion at IRMA.
- The Chair is constituted for a period of 5 years, emphasizing a commitment to sustained efforts in the domain of financial inclusion.
Key Highlights :
- Focus Areas of the Chair : Primarily dedicated to research, the Chair aims to deepen industry-academia collaboration, foster thought leadership, and engage in policy advocacy.
- Objective : The establishment of the Chair is geared towards strengthening and accelerating financial inclusion (FI) and financial literacy initiatives in India.
- Research and Policy Support : The Chair’s primary objective is to conduct and coordinate field-based research to support national and state-level policies related to financial inclusion.
- Activities of the Chair : This involves designing financial inclusion strategies, capacity building for the banking sector in financial inclusion, conducting workshops, round tables, symposia, and teaching courses at IRMA.
- Joint Advisory Committee : As part of the collaboration, IRMA and Axis Bank shall set up a Joint Advisory Committee that will oversee the selection process for the Chair, finalize the terms, and periodically review its progress.
About Axis Bank :
- Established : 1993
- Headquarters: Mumbai, Maharashtra, India
- MD & CEO: Amitabh Chaudhry
- Tagline : Badhti Ka Naam Zindagi (“Progress is the Name of Life”)
About Institute of Rural Management Anand (IRMA) :
- IRMA is an autonomous institution and a premier business school situated in Anand, Gujarat, India.
- Mandate: Contributing to the professional management of rural organizations.
