New Delhi, Apr 13 (PTI) Axis Bank is committed to addressing the financial needs of the small and medium enterprises (SMEs) and will ensure their long-term sustainable growth, its MD and CEO said on Wednesday.

The country's third largest private sector lender and India SME Forum felicitated as many as 100 businesses at an awards ceremony here. This comprised 55 small, 28 medium and 17 micro segment companies.

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"One of Axis Bank's core philosophies has been to address the financial requirements and ensure long term sustainable growth for all customer segments. These awards are a testament of the outstanding growth of SMEs and their potential to become world class organisations," Amitabh Chaudhry, MD and CEO of Axis Bank, said at the event.

While it has been the bank's constant endeavour to undertake measures to boost MSMEs and entrepreneurship, this association with the Indian SME Forum is to help SMEs network and promote themselves to their partners, investors and collaborators, raise capital and gain a global footprint, he added.

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The 9th edition of the India SME Awards recognised and felicitated contribution of India's top performing SMEs.

The platform also helps in creating awareness about the importance and development of SMEs and offers networking opportunities to raise equity capital for growth, the bank said.

Union Minister for MSME Narayan Rane and Minister of State for MSME Bhanu Pratap Singh Verma graced the occasion along with Chaudhry and Rajiv Anand, Deputy MD, Axis Bank.

Maharashtra received the highest number of awards, followed by Gujarat and Karnataka.

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