Axis Mutual Fund Launches Axis Account Plus, a Digital Working Capital Solution for Corporates and MSMEs

Axis Mutual Fund has introduced Axis Account Plus, a digital working capital management platform designed for corporates and micro, small and medium enterprises (MSMEs), as per a Moneycontrol news report.  

As per the report, it is available through the asset manager's website, the solution enables businesses to invest surplus funds in eligible debt and liquid mutual fund schemes through a fully digital process. 

Platform Features and Working Capital Management 

Businesses can complete onboarding, Know Your Customer (KYC) verification, folio creation and investments through a fully digital process on the platform. 

The platform also features maker-checker approval workflows, a unified dashboard for group entities, transaction alerts, and dedicated relationship support.  

It is designed to help businesses optimise surplus working capital between payment cycles, receivables and planned expenses, while enabling same-day redemptions, subject to the terms of the respective schemes. 

Corporate and MSME Opportunity 

According to Axis Mutual Fund, around ₹25 lakh crore is estimated to be lying in current accounts, where it typically earns little or no return. 

The company also noted that India has more than 31 lakh active corporates and Limited Liability Partnerships (LLPs) and over 8.6 crore MSMEs registered on the Government's Udyam platform. Institutional participation in mutual funds, however, remains relatively limited at around 13.6 lakh folios. 

Growth Strategy for the Platform 

As per the report, B. Gopkumar, Managing Director & Chief Executive Officer, Axis Asset Management Company, said "we see this as a huge opportunity to tap into," referring to the large MSME base and the estimated ₹25 lakh crore held in current accounts. 

He added that the company aims to reach 2-3% of India's MSMEs and corporates through the platform by offering businesses a digital solution to manage surplus cash with governance controls and operational workflows. 

Read More: Axis Bank Share Price in Focus After Raising $800 Million Through a Dual-Tranche Dollar Bond Issue! 

Conclusion 

The launch of Axis Account Plus expands Axis Mutual Fund's digital offerings by providing corporates and MSMEs with an online platform to manage surplus working capital through eligible debt and liquid mutual fund schemes.   

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