Axis Bank ties up with PayNearby for priority sector lending

Axis Bank ties up with PayNearby for priority sector lending: PayNearby has partnered with the Axis Bank to aid the private lender in achieving the targets of priority sector lending.

September 2022 Current Affairs Quiz

This partnership will be used to set up current and savings accounts for both retail and individual customers in remote areas.

As per the Reserve Bank of India guidelines, 40% of net bank credit is to be extended to the priority sector (includes agriculture and micro, small and medium enterprises).