Question

UTI Bank is presently known by which name?

Hint:

This private bank changed its name in 2007 to avoid confusion with a mutual fund body.

Answer 1

Correct answer: Axis Bank.

UTI Bank was set up in 1994 as one of the first new private banks in India after banking reforms began. In 2007, the bank changed its name to Axis Bank to avoid confusion with the Unit Trust of India, from which it took its original name.

Axis Bank is now one of the largest private sector banks in the country.