UTI Bank is now Axis Bank

UTI Bank has changed its name to Axis Bank w.e.f today.

According to a release issued by UTI Bank to the BSE today, Registrar of Companies, on July 30, 2007, has issued a fresh certificate of incorporation to UTI in the name of Axis Bank.

"The need for the change of name had arisen from the existence of several entities that are unrelated to shareholders but which use the UTI brand, and the consequent brand confusion that the UTI brand generates," the release added.