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Axis Bank was formed as UTI when it was incorporated in 1994 when Government of India allowed private players in the banking sector. The bank was sponsored together by the administrator of the specified undertaking of the Unit Trust of India, Life Insurance Corporation of India (LIC) and General Insurance Corporation ltd. and its subsidiaries namely National insurance company ltd., the New India Assurance Company, the Oriental Insurance Corporation and United Insurance Company Ltd. However, the name of UTI was changed because of the disagreement on terms and conditions of the bank authority over certain stipulations including royalty charged over the name from UTI AMC. The bank also wanted to have a new name from its pan-Indian as well as international business perspective. So from July 30, 2007 onwards the UTI bank was named as Axis Bank.
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Answer uti is an international bank ,suddenly it chaned that is why iam asking. The change in name was considered for avoiding confusion as several unrelated entit…ies were using the UTI brand
Axis Bank opened in 1994, shortly after private banks were allowed in India. It is now the third-largest private bank in India.
when uti bank was converted into axis bank?
Yes. Axis Bank is a scheduled bank in India under Private Sector Banks category.
Yes it is a scheduled commercial bank in india
UTI Bank changed its name to Axis Bank effective 1st August, 2007
The HR policies in the Axis Bank are not available to the public. You can contact the bank and ask for a copy of the policies.
no its a private bank now and earlier it was a public bank known as UTI bank
Axis Bank is not a nationalized bank.
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What is the Sort Code for Axis Bank in UK
Axis bank is one of India's largest and leading private banks. They provide the following services: . Savings accounts . Checking accounts . Fixed Deposits . Home Loans .… Personal and Auto loans . Credit Cards . etc .