Axis Bank drives 'phygital' wave in Maharashtra with massive branch expansion and digital evolution

Mumbai [Maharashtra] [India], June 23 (India): Axis Bank on Tuesday outlined its aggressive growth and transformation strategy for Maharashtra, highlighting a unified "phygital" approach that blends expanding physical reach with advanced digital capabilities.
Speaking at the Axis Bank press meet in Mumbai, senior leadership showcased how the bank's evolving branch network is backing the state's economic momentum.
Providing more details, Axis Bank boasts a robust domestic network of 6,275 branches. Maharashtra remains a pivotal growth engine for the bank, supported by a dense localised network of 640 branches and 2,021 ATMs and cash deposit machines, with Mumbai alone commanding 262 branches.
However, this expansion represents a fundamental shift in how physical banking spaces operate. With nearly 74% of routine servicing requests handled digitally nationwide, branches are successfully liberating themselves from traditional transaction processing to focus heavily on wealth management, corporate banking, and personalised advisory services.
During the Axis Bank press meet, Sanjeev Moghe, Group Head - Branch Banking, South, Axis Bank, said, "Banking is witnessing a structural shift. While transactions have become increasingly digital, financial decisions remain deeply personal. Branches are therefore evolving into advisory-led relationship hubs where customers seek guidance on wealth creation, investments, credit and business growth. Maharashtra, particularly Mumbai, remains one of our most important markets, and we continue to invest in both physical presence and digital capabilities to deliver a seamless phygital banking experience."
This phygital philosophy heavily empowers the region's commercial and MSME ecosystems, enabling high-touch local advisory services alongside rapid digital-first lending solutions.
Vijay Shetty, Group Head, Commercial Banking Group, Axis Bank, said, "Maharashtra has long been one of India's economic powerhouses, but what is particularly striking today is the breadth of growth across sectors and enterprise sizes. From established manufacturing clusters to new-age businesses and exporters, companies are increasingly seeking partners who can help them improve efficiency and unlock new growth opportunities. Banking today is helping businesses do more than transact; it is helping them grow, scale, and compete. Maharashtra is leading this next phase of enterprise growth."
Prashanth TS, Group Head - Mid-Corporate & Medium Enterprises Group, Axis Bank, said, "The next decade of MSME growth will be shaped by formalisation, digital adoption and greater access to institutional capital. Entrepreneurs today are building more ambitious businesses, adopting technology earlier, and integrating into national and global value chains. This requires a different banking model, one that combines data-driven decision-making, faster credit access, and relationship-led guidance. Maharashtra's entrepreneurial ecosystem reflects this evolution, and we believe it will continue to play a defining role in India's growth story."