Axis Bank is the changed name of

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	IDBI
B	ICICI
C	UTI
D	UTO

Explanation:

Detailed explanation-1: -Alteration in the name of Bank in the Second Schedule to the Reserve Bank of India Act, 1934-‘UTI Bank Ltd’ to ‘Axis Bank Ltd’.

Detailed explanation-2: -The Bank changed their name from UTI Bank Ltd to Axis Bank Ltd with effect from July 30 2007 to avoid confusion with other unrelated entities with similar name.

Detailed explanation-3: -The name of UTI Bank was changed to Axis bank ltd on 30th July 2007. It was the third-largest private sector lender bank in India at that time. The change in name was considered for avoiding confusion between the other UTI brand, so executive director R Ashok Kumar gave this statement in 2007.

Detailed explanation-4: -Erstwhile UTI was bifurcated into UTI Mutual Fund and the Specified Undertaking of the Unit Trust of India effective from February 2003.

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