Written by Intern Queeny George M.H , Team Allycaral
Axis Bank, one of India’s largest private sector banks, has launched ‘Pink Capital: The Spectrum of Queer Money’, a qualitative and insightful report exploring the financial lives of India’s LGBTQIA+ community. With this move, the bank signals a bold and necessary step towards understanding and addressing the specific financial needs of a community that has long remained underserved and overlooked in traditional banking models.
The report offers a deep dive into the lived experiences of queer individuals when it comes to money—how they earn, save, invest, and plan for the future. A key insight that emerged is that while symbolic gestures and inclusive branding are welcomed, they are not enough. What truly builds loyalty and trust among queer consumers is everyday inclusion: joint accounts, access to pensions and loans, inclusive healthcare benefits, and respectful customer service that recognizes and affirms their identities.
The financial goals and needs across age groups also vary sharply. Younger individuals emphasized the importance of educational loans, queer-focused savings accounts, and financial literacy programs. In contrast, the older cohort spoke about the urgency of creating community housing models and retirement homes that are queer-affirming, safe, and supportive. This gap underscores the need for tailored financial products that span different life stages.
Axis Bank’s Executive Director, Munish Sharda, highlighted the growing trust of the queer community in the bank, sharing that Axis has already serviced thousands of accounts opened under the gender-neutral honorific ‘Mx’ and by transgender individuals. Rajkamal Vempati, Group Executive and Head of Human Resources, emphasized the larger vision: “By making Pink Capital visible, we are not just doing the right thing, we are building the future of inclusive finance in India.”
The report was launched as part of Sparsh Week, Axis Bank’s flagship celebration that honours customer experience, inclusion, and culture. The initiative reinforces Axis Bank’s broader commitment to a more inclusive and equitable financial ecosystem — one that recognizes, respects, and responds to the spectrum of queer money in India.
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