Axis Bank Ltd. has been promoted by the largest and the best Financial Institution of the country,
UTI. The Bank was set up with a capital of Rs. 115 crore, with UTI contributing Rs. 100 crore, LIC - Rs.
7.5 crore and GIC and its four subsidiaries contributing Rs. 1.5 crore each.
SUUTI - Shareholding 11.56%
Erstwhile Unit Trust of India was set up as a body corporate under the UTI Act, 1963, with a view to
encourage savings and investment. In December 2002, the UTI Act, 1963 was repealed with the
passage of Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002 by the Parliament,
paving the way for the bifurcation of UTI into 2 entities, UTI-I and UTI-II with effect from 1st
February 2003. In accordance with the Act, the Undertaking specified as UTI I has been transferred
and vested in the Administrator of the Specified Undertaking of the Unit Trust of India (SUUTI), who
manages assured return schemes along with 6.75% US-64 Bonds, 6.60% ARS Bonds with a Unit
Capital of over Rs. 14167.59 crores.