The UTI Bank, now known as Axis Bank has started its bank operation in 1994. It is the first new private bank after the government of India allowed to establish a private bank. The Bank was jointly promoted by the Unit Trust of India (UTI-I), Life Insurance Corporation of India (LIC), General Insurance Corporation Ltd, National Insurance Company Ltd, The New India Assurance Company, The Oriental Insurance Corporation and United Insurance Company Ltd. Headquarters of the UTI Bank has located at Mumbai.
The Bank is known as one of the top private bank in India. There are over 13,389 employee worked in this bank. At the end of 2009, the UTI bank has more than 1000 branches and extension counters. The bank has also the big network of more than 4055 ATMs as on 31st March 2010. The bank has also moved up its reach to 341 cities, towns and villages. The bank has also the wonderful deposit support of more than Rs. 61,000 crores with above 65 lakh accounts.
UTI bank has a wide range of facilities and services for its customers, ranging from personal banking to business banking and so much more. The bank has respected to serving its customers to its boundary, one of the things that has greatly brought many to the UTI bank is the fact that it has ATMs spread all over the country. UTI Bank in India had over 60 lakh debit cards at the end of June 2007. It is the first bank in India to provide the AT PAR Cheque facility, without any charges, to all its Savings Bank customers.
Axis Bank does not offer 24 hour customer support to its debit card account holders. It also does not have cooperation with any bank in the UK, making it much harder to attain services when travelling abroad. The bank also charges a fee to facilitate SMS alerts services and charges a fee for transactions abroad.