Unit Trust of India was setup by the Indian Government in 1964.
Axis Bank is a private bank started in 1994 after the Government of India allowed private banks to be established. The bank was promoted by UTI – Unit Trust of India, LIC – Life insurance corporation of India, GIC – General Insurance Corporation of India and 4 other PSU Companies – The Oriental Insurance Company Ltd and United India Insurance Company Ltd, National Insurance Company Ltd and The New India Assurance Company Ltd.
The current public holding in the bank is 57.59%. The bank is strong both in retail and corporate banking and it has a network of more than 729 branches and over 3171 ATMs.
Also See: Axis Bank Exam Interview Questions