Wednesday, May 12, 2010


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. First branch of UTI Bank inaugurated at Ahmedabad in


In 2000, UTI Bank introduced iConnect Retail loans

In 2003, UTI Bank inaugurated its ATM at Thegu near the Nathula Pass in Sikkim. This ATM is at the

highest altitude in India.

In 2005, UTI Bank launched UTI Bank launches Smart Privilege–a special bank account designed for


In 2005, UTI Bank and Visa International launched Mobile Refill facility–Anytime, Anywhere Pre-Paid

Mobile Refill for all Visa Cardholders in India.

In 2006, UTI Bank announces the scheme of issuance of 'Senior Citizen ID Card' in association with

Dignity Foundation

In 2006, UTI Bank launched Priority Banking Lounge for its high net-worth customers

In 2007, UTI Bank launched 'Spice Rewards' on the bankcards–India's first-ever merchant-supported

rewards program

In July 2007, UTI Bank was renamed Axis Bank

In 2007, Axis Bank launched project Sampark as a cross-selling initiative. During the year, the Bank

launched the Annuity Card (a co-branded pre-paid card) in association with LIC for disbursing the annuity &

the Meal Card–an electronic variant of meal vouchers.

In 2008, Axis Bank launched Platinum Credit Card, India's first EMV chip based card. EMV is a

standard for interoperation of IC cards for authenticating credit and debit card payments. The name EMV

comes from the initial letters of Europay, MasterCard and VISA, the three companies which originally

cooperated to develop the standard.

In Sept 2007, Axis Bank tied up with Banque Privée Edmond de Rothschild Europe for Wealth


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