Axis Bank is simply a name and does not have a full form.
Axis bank was the first of the new private banks to begin operations in 1994, after the Government of India allowed for 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). It was also promoted by four other PSU insurance companies, National Insurance Company Ltd, The New India Assurance Company Ltd, The Oriental Insurance Company Ltd, and United India Insurance Company Ltd.
As of 31st March 2011, Axis Bank is capitalised to the extent of Rs 410.54 crores (10 million) with the public holding at 53.6 per cent, excluding promoters and GDRs. The Bank's registered office is based in Ahmedabad and its central office is located in Mumbai. The bank has 1281 branches and 169 Service branches and CPCs.
The bank has a network of over 6270 ATMs which are available to their customers 24 hours a day. This is one of the largest ATM networks in India. The bank has strengths in retail and corporate banking and says on its official website that it is 'committed to adopting the best industry practices internationally in order to achieve excellence.'
Axis bank was the first of the new private banks to begin operations in 1994, after the Government of India allowed for 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). It was also promoted by four other PSU insurance companies, National Insurance Company Ltd, The New India Assurance Company Ltd, The Oriental Insurance Company Ltd, and United India Insurance Company Ltd.
As of 31st March 2011, Axis Bank is capitalised to the extent of Rs 410.54 crores (10 million) with the public holding at 53.6 per cent, excluding promoters and GDRs. The Bank's registered office is based in Ahmedabad and its central office is located in Mumbai. The bank has 1281 branches and 169 Service branches and CPCs.
The bank has a network of over 6270 ATMs which are available to their customers 24 hours a day. This is one of the largest ATM networks in India. The bank has strengths in retail and corporate banking and says on its official website that it is 'committed to adopting the best industry practices internationally in order to achieve excellence.'
