Axis Bank Case Solution
On April 30, 2007, UTI Bank revealed that the bank's board of managers had actually authorized a proposition to alter its name to Axis Bank. Nayak described, "The name has actually been selected due to the fact that it is easy and crisp, goes beyond topographical limits as we look for to become an international bank, and indicates stability and strength.
The UTI Bank was among the very first economic sector banks which were established after the rehabilitate in the banking sector in India. It was established with a capital of Rs. 1.15 billion, with Unit Trust of India (UTI) chipping in Rs. 1 billion, Life Insurance Business of India (LIC) pitching in Rs. 75 million and General Insurance Corporation of India (GIC) and its 4 tributory contributing Rs. 15 million each.
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