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Frorex Project

Frorex Project

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Published by Gaurav Arora

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Published by: Gaurav Arora on Jul 13, 2011
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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 waspromoted jointly by the Administrator of the specified undertaking of the Unit Trust of India (UTI - I), Life Insurance Corporation of India (LIC) and General InsuranceCorporation of India (GIC) and other four PSU insurance companies, i.e. NationalInsurance Company Ltd., The New India Assurance Company Ltd., The OrientalInsurance 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 atMumbai. The Bank has a very wide network of more than 1000 branches and ExtensionCounters (as on 31st March 2010). The Bank has a network of over 4055 ATMs (as on31st March 2010) providing 24 hrs a day banking convenience to its customers. This isone of the largest ATM networks in the country.The Bank has strengths in both retail and corporate banking and is committed toadopting 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 thecountry, UTI. The Bank was set up with a capital of Rs. 115 crore, with UTI contributingRs. 100 crore, LIC - Rs. 7.5 crore and GIC and its four subsidiaries contributing Rs. 1.5crore 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In December 2002, the UTI Act, 1963was repealed with the passage of Unit Trust of India (Transfer of Undertaking andRepeal) Act, 2002 by the Parliament, paving the way for the bifurcation of UTI into 2entities, UTI-I and UTI-II with effect from 1st February 2003.In accordance with the Act, the Undertaking specified as UTI I has been transferred andvested in the Administrator of the Specified Undertaking of the Unit Trust of India(SUUTI), who manages assured return schemes along with 6.75% US-64 Bonds, 6.60%ARS Bonds with a Unit Capital of over Rs. 14167.59 croresThe Government of India has appointed Shri K. N. Prithviraj as the Administrator of theSpecified undertaking of UTI, to look after and administer the schemes under UTI - I,where Government has continuing obligations and commitments to the investors, whichit will uphold.
Board of Directors
The members of the Board are :
Board of Directors
The members of the Board are :
Dr. Adarsh Kishore
Non-Executive Chairman
Smt. Shikha Sharma
Managing Director & CEO
Shri M. M. Agrawal
Deputy Managing Director 
Shri J.R. Varma
Dr. R.H. Patil
Smt. Rama Bijapurkar 
Shri R.B.L. Vaish
Shri M.V. Subbiah
Shri K. N. Prithviraj
Shri V. R. Kaundinya
Shri S. B. Mathur 
BRANCHES OF AXIS BANKAxis Bank has all over around 1000 branches in india among these thereare branches in prime cities like----

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