The Bank operates in four segments, namely treasury, retail banking, corporate wholesale banking and other banking business. The treasury operations include investments in sovereign and corporate debt, equity and mutual funds, trading operations, derivative trading and foreign exchange operations on the account, and for customers and central funding. Axis Bank waives off the minimum balance requirements in most cases if the account holder has a fixed deposit or a recurring deposit for about a year with the bank. In December 20003, the Bank launched their merchant acquiring business. Axis Bank offers a vast variety of savings accounts to customers along with personalized services and attractive benefits. Customers can plan and track their finances and also save considerably, earning interests on their savings. With a multitude of cho ices on their plate, Axis Bank customers can open a savings account best suited for managing their finances. Customers can access their savings accounts at any of the 11,500 Axis Bank ATMs and 2300 Axis Bank branches strategically located across the country. The year 2003, the Bank was given the authorized to handle Government transactions such as collection of Government taxes, to handle the expenditure related payments of Central Government Ministries and Departments and pension payments on behalf of Civil and Non-civil Ministries such as defence, posts, telecom and railways. The Bank has five wholly-owned subsidiaries namely Axis Securities and Sales Ltd, Axis Private Equity Ltd, Axis Trustee Services Ltd, Axis Asset Management Company Ltd and Axis Mutual Fund Trustee Ltd. Axis Bank is the third largest private sector bank in India. The corporate wholesale banking segment includes corporate relationships not included under retail banking, corporate advisory services, placements and syndication, management of publics issue, project appraisals, capital market related services, and cash management services..
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