EEG was formed in 2014 to cater to the business needs (both working capital and term loan requirement) of micro and small businesses with turnover of up to `10 crores and support them to grow to the next level.

EEG has adopted a very simplified approach to lending, driven by uniform products, credit scores and standardised processes. We have initiated many tie-ups with various corporates in the space of seller financing, franchise funding and invoice discounting.

EEG has also played a critical role in the implementation of various government schemes, targeted at micro and small business borrowers, such as CGTMSE, PMMY, among others.

At Axis Bank we see the microfinance business as an opportunity to bring in the un-organised sector in the banking fold. It is an effective tool to bring financial empowerment for the un-banked population. The Bank is in the retail microfinance initiative since June 2012. Apart from this, we are also running a Self Help Group lending programme, urban microfinance and business correspondence tie-ups. Through these initiatives, the Bank has reached out to 7 lakh families in rural and urban locations across the country and disbursed ~`1,500 crores.

We follow a holistic approach towards financial empowerment of customers. It includes providing financial literacy, credit counselling, micro credit and micro insurance. To take microfinance offerings to the next level, we have introduced tab-based banking, which has automated the entire end-to-end process. The result is low TAT and improved customer experience.

Asha home loans, our home loan product, caters to the first time home buyers in the lower income segment; and helps them by providing affordable EMI options. The product offers loan from `1 lakh to `15 lakhs in small towns (population < 10 lakhs) and up to `25 lakhs in larger towns (population > 10 lakhs), to customers with family incomes of `8,000 - 10,000 per month and above. Available in both floating and fixed rate options, it has attractive interest rates and requires simple documentation. Loan amount of up to 90% of the property value can be availed with 30 years of loan tenure.

24X7 Instant Personal Loans offers real-time paperless loan disbursement, resulting in seamless customer experience for existing bank customers. The pre-approved loan offers can be viewed on mobile app, internet banking and on the ATM.