AXIS BANK

In 1993, it was being incorporated as of 3rd December and the certificate of business as of 14th December. Also, the bank transacts banking business of all the types. Also, UTI Bank Ltd. was promoted by Unit Trust of India, and Life Insurance Corporation of India, and the General Insurance Corporation of India and its 4 subsidiaries. It was also the first private sector bank to get a license under the new guidelines issued by the RBI.

Some of the Milestones:

• 1997:
• It obtained a license to act as a Depository Participant with NSDL and also applied for registration with SEBI to act as the 'Trustee to Debenture Holders.'
• INR 100 crores was contributed by UTI, and the rest from LIC INR 7.5 crores, GIC and its 4 subsidiaries INR 1.5 crores each.
• 1998:
• It had 28 branches in urban and semi-urban areas as of 31st July.
• It offered ATM cards to all its customers.
• It launched a new retail product with operational flexibility for its customers.
• It signed a co-brand agreement with the market, leader, Citibank NA for entering into the highly promising credit card business.
• It was promoted by India's pioneer mutual fund Unit Trust of India along with GIC, LIC, and its 4 subsidiaries.
• 1999:
• Both UTI Bank and Citibank launched an international co-branded credit card.
• Both UTI Bank and Citibank came together to launch an international co-branded credit card under the MasterCard umbrella.
• It also inaugurated an off-site ATM at Ashok Nagar here, taking the total number of its off-site ATMs to 13 m.
• 2000:
• It declared the launch of Tele-Depository Services for its depository clients.
• It launched 'iConnect,' its Internet banking Product.
• It signed a memorandum of understanding with equitymaster.com for the e-broking activities of the site.
• Also, Infinity.com financial Securities Ltd., which is an e-broking outfit, was typing up with UTI Bank for a banking interface.
• Indiabulls signed a memorandum of understanding with UTI Bank.
• It also upgraded the rating of UTI Bank's INR 500-crore certificate of deposit program to A1+.
• 2001:
• It launched a private placement of non-convertible debentures to raised to INR 75 crore.
• It also opened the two offsite ATMs and one extension counter with an ATM in Mangalore, and its total number of ATMs across the country was 355.
• 2002:
• Also, B Paranjpe & Abid Hussain ceased to be the Directors of UTI Bank.
• It also informed that Shri J M Trivedi was appointed as an alternate director to Shri Donald Peck since November 2, 2002.
• 2003:
• It was authorized to launch 16 ATMs on the Western Railway Stations of Mumbai Division.
• It filed suit against financial institutions IFCI Ltd in the debt recovery tribunal at Mumbai to recover INR 85cr in dues.
• Shri Ajeet Prasad, Nominee of UTI also resigned as the director of the bank.
• The Banks Chairman and MD Dr.P.J.Nayak inaugurated a new branch at Nellore.
• It allotted shares under Employee Stock Option Scheme to its employees.
• It unveiled pre-paid travel card 'Visa Electron Travel Currency Card.'
• The allotment of 58923 equity shares of INR 10 each under ESOP.
• It tied-up with the UK govt fund for contract farming.
• It unveiled the new ATM in Sikkim.
• 2004:
• It came out with INR 500 mn Unsecured Redeemable Non-Convertible Debenture Issue, issue fully subscribed.
• It tied-up with Shriram Group Cos.
• It unveiled a premium payment facility via ATMs applicable to LIC & UTI Bank customers.
• Also, DIEBOLD Systems Private Ltd, which is a wholly-owned subsidiary of Diebold Incorporated, secured a significant contract for the supply of ATMs as well as services to UTI Bank.
• Also, HSBC completes the acquisition of about 14.6% stake in UTI Bank for $67.6 m.
• It installed ATM in Thiruvananthapuram.
• It launched the 'Remittance Card' in association with Remit2India, which is a website offering money-transfer services.
• 2005:
• It entered into a bancassurance partnership with Bajaj Allianz General for selling general insurance products via its branch network.
• It launched its first Satellite Retail Assets Centre (or SRAC) in Karnataka at Mangalore.
• 2006:
• It unveiled a priority banking lounge.
• It launched the operations of UBL Sales, its Sales Subsidiary.
• It inaugurates its first office in Bengaluru.
• It declared the launch of its Credit Card Business.
• It became the first Indian Bank to issue Foreign Currency Hybrid Capital in the International Market successfully.
• 2007:
• It was also appointed Shri K N Prithviraj as an Additional Director on the Board at the Directors of the Bank.
• The company name was changed from UTI Bank Ltd to Axis Bank Ltd.
• 2008:
• It launched Platinum Credit Card, India's first EMV chip-based card.
• It set up its branch at Ilanji at Meenakshi Nagar on the Coutralam-Madurai road on April 16.
• 2009:
• It set up a new branch at Perumbavoor. It also had a network of 832 branches, along with 8 extension counters and 3622 ATMs nationwide.
• It declared that the Board of Directors of the Bank at its meeting being held on June 01, 2009, and inducted Smt. Shikha Sharma as the Additional Director of the Axis Bank.
• It opened the new branch at Irinjalakuda while it has a network of 892 branches, 8 extension counters, and 3,806 ATMs nationwide.
• 2010:
• It also appointed Shri M. S. Sundara Rajan, former CMD, Indian Bank as an Additional Independent Director with an immediate effect.
• It acquired a 4% stake in Max New York Life.
• It bought a property in central Mumbai from Bombay Dyeing where it shifted its corporate headquarters with the worth INR 782 crore.
• It acquired investment banking and securities units of the Enam Securities Pvt Ltd in an all-stock deal for INR 2,067 Cr (around $456 Mn) for expanding its broking and investment banking business.
• 2011:
• Axis Bank launches online trading platform AxisDirect
• Axis Bank has launched a pre-paid VISA card, i.e., MY MONEY CARD.
• Axis Bank opens a new representative office in Abu Dhabi.
• 2012:
• It partnered with NIIT IFBI to introduce PG Diploma in Retail Banking.
• It inducts Schroders as a 25% partner in Axis AMC.
• 2013:
• It launched the ISB Women Leadership Program.
• It launched a unique product ‘Empower Home Loans’ for self-employed -Axis Bank, Lufthansa Miles & More launch co-branded credit card.
• It launched a new and improved 'Senior Privilege Savings Account.'
• It launched ‘Axis Bank- ISIC Forex Card’ for Students.
• It launched the DREAM HOME FESTIVAL 2013 in Bengaluru.
• 2015:
• It is the third-largest private sector bank.
• It raised Senior Notes in the International Market.
• It launched the Display variant Debit Card for its NRE customers.
• It offers the electronic signature facility to its customers.
• Both Axis Bank and Vistara joined hands to introduce a co-branded credit card.
• It opened its representative office in Dhaka to strengthen its international presence.
• 2016:
• It received approval from RBI - FIIs/RFPIs that can invest up to 62%under Portfolio Investment.
• It launched a certified green bond at LSE.
• 2017:
• Also, its IIC pact boosts the trade with Latin America.
• It launched a new home loan product.
• It also hits a record high on fundraising plans.