Axis Bank & IRMA Inks MoU to Promote Financial Inclusion & Literacy in India

Current Context: 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.

• This MoU was signed on November 6, 2023.
• The Chair, constituted for a period of 5 years, will primarily focus on research, deepening industry-academia collaboration, driving thought leadership, and policy advocacy.
• The main objective of the Chair is to conduct and coordinate field-based research to support national and state-level policies towards financial inclusion.
• This includes designing financial inclusion strategies in and for India, capacity building for the banking sector in the domain of financial inclusion, conducting workshops, round tables, and symposia, and undertaking teaching courses at the Institute.
• As part of the collaboration, IRMA and Axis Bank will set up a Joint Advisory Committee that will oversee the selection process for the Chair, finalize the terms, and periodically review its progress.
• The agreement also proposes to support two Research Associates under the Chair.

Question:

Q.1 Who has Axis Bank partnered with to promote financial inclusion and literacy in India?
a. Indian Institute of Management (IIM)
b. Institute of Rural Management Anand (IRMA)
c. Indian School of Business (ISB)
d. National Institute of Bank Management (NIBM)