Axis Bank launches first digital locker-focused branch in Delhi amid rising urban demand for safe deposit lockers

New Delhi [India], May 2 (ANI): Axis Bank on Saturday opened its first digital locker-focused branch in the national capital, aiming to address the growing shortage of safe-deposit lockers in urban areas through a technology-led format.

The new branch, located at Capital Green, DLF Midtown Plaza in New Delhi, "marks a significant step in the Bank's effort to reimagine secure banking by bringing together advanced automation, superior security, and differentiated customer experience through sophisticated locker services," the bank said in a release.

The launch comes amid a widening demand-supply gap for bank lockers in India. "By 2030, nearly 6 crore affluent Indians are expected to require bank lockers, while the current supply stands at approximately 60 lakh lockers," the release said, adding that the shortage is "more pronounced in large cities."

According to the bank, the digital locker-focused branch is designed as a compact, technology-enabled format that offers automated locker services, particularly within premium residential ecosystems. It added that the model aims to "strengthen its physical presence in dense urban locations while offering customers greater control, privacy, and convenience."

Highlighting the features of the facility, the bank said it offers "biometric, keyless entry with no dependency on branch staff" and "automated locker delivery to a private access lounge, ensuring discretion and ease of use." The vault is also "centrally monitored... with multi-layered surveillance and sensor-based protection."

Speaking at the inauguration, Amitabh Chaudhry, Managing Director and Chief Executive Officer of the bank, said the initiative is aimed at responding to evolving customer expectations.

"As customers seek greater control, transparency and convenience in safeguarding their valuables, our Digital Locker-focused branch reimagines the experience by placing access, privacy and security firmly in their hands, supported by advanced technology," he said.

He added that the move reflects the bank's intent "to build a more embedded, ecosystem-led banking model aligned with modern, urban and premium lifestyles."

The branch was inaugurated by M Nagaraju, Secretary, Department of Financial Services, Ministry of Finance, in the presence of senior bank officials and industry representatives. (ANI)

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