on summer training
at Axis Bank
Hewett road, Lucknow
History of AXIS BANK
Axis Bank was the first of the new private banks to have begun operations in 1994, after the Government of India allowed new private banks to be established. The Bank was promoted jointly by the Administrator of the specified undertaking of the Unit Trust of India (UTI - I), Life Insurance Corporation of India (LIC) and General Insurance Corporation of India (GIC) and other four PSU insurance companies, i.e. National Insurance Company Ltd., The New India Assurance Company Ltd., The Oriental Insurance Company Ltd. and United India Insurance Company Ltd.
The Bank today is capitalized to the extent of Rs. 405.17 crores with the public holding (other than promoters and GDRs) at 53.09%.
The Bank's Registered Office is at Ahmedabad and its Central Office is located at Mumbai. The Bank has a very wide network of more than 1000 branches and Extension Counters (as on 31st March 2010). The Bank has a network of over 4055 ATMs (as on 31st March 2010) providing 24 hrs a day banking convenience to its customers. This is one of the largest ATM networks in the country.
The Bank has strengths in both retail and corporate banking and is committed to adopting the best industry practices internationally in order to achieve excellence.
Axis Bank Ltd. has been promoted by the largest and the best Financial Institution of the country, UTI. The Bank was set up with a capital of Rs. 115 crore, with UTI contributing Rs. 100 crore, LIC - Rs. 7.5 crore and GIC and its four subsidiaries contributing Rs. 1.5 crore each.
SUUTI - Shareholding 24.00%
Erstwhile Unit Trust of India was set up as a body corporate under the UTI Act, 1963, with a view to encourage savings and investment. In December 2002, the UTI Act, 1963 was repealed with the passage of Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002 by the Parliament, paving the way for the bifurcation of UTI... [continues]
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(2010, 07). Project Report On Summer Training At Axis Bank. StudyMode.com. Retrieved 07, 2010, from http://www.studymode.com/essays/Project-Report-On-Summer-Training-At-365870.html
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"Project Report On Summer Training At Axis Bank." StudyMode.com. 07, 2010. Accessed 07, 2010. http://www.studymode.com/essays/Project-Report-On-Summer-Training-At-365870.html.