September 05, 2025
Axis Bank, one of the largest private sector banks in India, today announced the launch of ‘Pink Capital: The Spectrum of Queer Money’, a qualitative report that explores the financial lives of India’s LGBTQIA+
community.
The report’s findings reveal that queer consumers prioritize systemic access, healthcare, and financial security over lifestyle spending, highlighting survival-driven financial choices and the emergence of an underserved segment. The launch
coincides with the 7th anniversary of the Supreme Court verdict on Section 377, a moment that reaffirmed dignity and authenticity for the LGBTQIA+ community.
“Over the years, Axis Bank has serviced thousands of accounts opened under the honorific marker 'Mx' or by Transgender Individuals—a testament to growing trust, deeper engagement with the community, and the rise of a distinct and increasingly
visible customer segment,” said Munish Sharda, Executive Director, Axis Bank.
Building on this progress, Axis Bank is taking inclusive banking a step further by uncovering the economic realities and aspirations of the LGBTQIA+ community through this report.
“By making Pink Capital visible, we are not just doing the right thing, we are building the future of inclusive finance in India,” said Rajkamal Vempati, Group Executive & Head of Human Resources, Axis Bank.
The report is part of Axis Bank’s broader ESG and DE&I agenda, which was deepened in 2021 with the launch of the #ComeAsYouAre Charter. This charter introduced inclusive policies and practices for employees and customers
from the LGBTQIA+ community, such as joint savings and term deposits for same sex partners along with nomination facilities for partners and the usage of honorific Mx instead of Mr and Ms for customers of varied gender identities. The Bank
continues to advocate for inclusive access while respecting privacy, including not collecting data on same-sex partners.
“Pink Capital brings forward voices that have long been left out of financial conversations,” said Harish Iyer, SVP & Head - DE&I, Axis Bank.
The report was unveiled during Sparsh Week, Axis Bank’s flagship celebration of culture and customers, reaffirming the Bank’s commitment to service, inclusion, and customer-centricity.
Please click here to download the report.
Click here to download the press release
