Axis Bank opens 50 new branches, Abakkus crosses Rs 10,000 crore AUM

Axis Bank has inaugurated 50 new branches across eight states as part of its Independence Week celebrations, expanding its presence in urban, semi-urban, and rural markets. The new outlets will offer banking services, ATMs, doorstep banking, and regional language support, the bank said in a statement.

Separately, the Economic Times reports that Axis Bank is widening its corporate banking platform beyond lending. Wholesale banking head Vijay Mulbagal told the publication that the lender is targeting fee income and low-cost deposits by handling collections, payments, trade finance, and salary accounts for companies, while refusing to chase loan growth through aggressive pricing.

In other developments, Abakkus Mutual Fund said its assets under management crossed Rs 10,000 crore as of August 13, 2026, less than a year after its first scheme launch. YES Bank launched the YES Essence Credit Card for young, salaried women, and J&K Bank entered a corporate agency agreement with HDFC Life to offer life insurance products.