Current Affairs - Places - Discussion

Axis Bank announced the opening of its new representative office in Sharjah, United Arab Emirates (UAE). The representative office in Sharjah is Axis Banks third office in UAE. As UAE is home to 3 million Non-resident Indians (NRIs) and this representative office will focus on remittances business. It is to be noted that Axis Bank commands a 20 per cent market share in the USD 12 billion dollar-a-year inward remittances market from the UAE.