As it was already being in talks that Edge Points will be convertible to Edge Miles. Axis has taken a different step and now allowing Edge Points directly transferable to KrisFlyer miles. KrisFlyer being one of the most used Frequent Flyer Program, the people do use.
The transfer ratio works like the below chart:
This transfer will be the most useful one for the Axis Magnus card holders who're doing 1 lakh spending every month.
For Magnus with 1 lakh spending, you can earn 6000 edge points at 1.2% normal reward rate and extra 25000 edge points. So for every month of consistent 1 lakh spending you can earn 31000 Edge Points. 31000 edge points at 5:4 ratio converts into 24800 KrisFlyer Miles. So for 1 months of spending can give you airmiles worth of one Economy class ticket from Delhi to Singapore. For 2 months of spending you can get one way Business Class ticket for the same route.
The value of the point transfer is .80 ₹
Here is the original announcement post by Axis Bank
The transfer ratio works like the below chart:

This transfer will be the most useful one for the Axis Magnus card holders who're doing 1 lakh spending every month.
For Magnus with 1 lakh spending, you can earn 6000 edge points at 1.2% normal reward rate and extra 25000 edge points. So for every month of consistent 1 lakh spending you can earn 31000 Edge Points. 31000 edge points at 5:4 ratio converts into 24800 KrisFlyer Miles. So for 1 months of spending can give you airmiles worth of one Economy class ticket from Delhi to Singapore. For 2 months of spending you can get one way Business Class ticket for the same route.
The value of the point transfer is .80 ₹

Here is the original announcement post by Axis Bank