subsidiary of the Bank. AAMC is approved by the SEBI to act as Investment Manager for Axis Mutual Fund. Axis Bank partnered with Visa Inc. to launch the 'eKYC' facility, and was the first organization in India to introduce biometrics-based KYC. [11] The bank was promoted jointly by the Administrator of the Unit Trust of India (UTI),[12] Life Insurance Corporation of India (LIC), General Insurance Corporation, National Insurance Company, The New India Assurance Company, The Oriental Insurance Corporation and United India Insurance Company. ATSL was incorporated in India as a wholly-owned subsidiary of the Bank on 16th May 2008 and received its certificate of commencement on 30th September 2008. of the share capital, respectively. Another subsidiary of Axis Bank, namely Axis Entities, will hold a right to acquire an additional stake of up to 7% in the life insurance company in one or more tranches, in compliance with existing laws and regulations. Concerns relating to senior management can be reported directly to the Audit Committee of the Board. [31] The representative office at Dhaka was inaugurated during the current financial year. Axis Bank has 61,940 employees across 2 locations. Indian equities ended higher for the second straight session, erasing the losses made over Friday and Monday. Axis Bank on Thursday said it has decided to wind down its UK subsidiary and the move will not have any material impact on its financial position. [28], Transaction banking: Axis Bank provides products and services related to transaction banking to customers in areas of current accounts, cash management services, capital market services, trade, foreign exchange and derivatives, cross-border trade and correspondent banking services and tax collections on behalf of the Government and various State Governments in India. ACL was incorporated in India as a wholly-owned subsidiary of the Bank on 6th December 2005 and received its certificate of commencement of business on 2nd May 2006. Marketing Mix of Axis Bank analyses the brand/company which covers 4Ps (Product, Price, Place, Promotion) and explains the Axis Bank marketing strategy. PTI. Accelyst is now a wholly-owned subsidiary of the AAMC was incorporated on 13th January 2009 and received its certificate of commencement on 4th March 2009. venture capital funds and offshore funds. It is in the business of providing digital payments services through web- & mobile-based platforms and payment gateways. Axis Bank is the third largest private sector bank in India. "In line with this objective, the bank has taken a decision to fully wind down and close the operations of Axis Bank UK Ltd, a subsidiary of the bank, and targeting for surrendering of the banking licence by end of April 2021," bank said in regulatory filings at stock exchanges late on Thursday after closing hours. CCI approves acquisition of stake in Max Life by Axis Bank, subsidiary companies: The Competition Commission of India (CCI) on Thursday approved the acquisition of stake in Max Life Insurance Company Limited by Axis Bank Limited, Axis Capital Limited and Axis Securities Limited, according to the Ministry of Corporate Affairs.. Get all latest entertainment & viral stories on … x It is promoted group of insurance companies - LIC, Oriental Insurance, Unit Trust of India, GIC, NIC, The New India assurance company and United India insurance company. I also agree to Axis Bank/ Subsidiaries/ Affiliates/ Agents contacting me for various other product updates, special offers Third … It was incorporated on 7th March 2011 in the United Kingdom and commenced its operations on 19th April 2013 upon receipt of approval from the FCA. [34] The Bonds issued by the bank under the MTN program are listed on the Singapore Stock Exchange. See insights on Axis Bank including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft. As at 31st March 2017, the paid-up capital of the company was Rs.25 crore. AMFT is acting as a trustee to Axis Mutual Fund. [15], On 30 July 2007, UTI Bank changed its name to Axis Bank. In September 2012, the Bank entered into a strategic partnership with Schroders Plc. I Accept, Banking is now at your fingertips with Axis Mobile! [20], Axis Bank has the largest ATM network among private banks in India. Axis Mutual Fund is also registered with the SEBI. ACL is in the business of merchant banking, institutional broking and investment banking. [17], In 2013, Axis Bank's subsidiary, Axis Bank UK commenced banking operations. 0.63 0.74 0.87 1.03 "Axis Bank and its subsidiaries -- Axis Capital Ltd and Axis Securities Ltd (together Axis Entities) have agreed to enter into revised agreements with Max Financial for acquisition of … (known as the Whistleblower Committee). Transfer, Axis Capital Ltd (formerly Enam Securities Direct Pvt. resolution thereof. The first branch was inaugurated on 2 April 1994 in Ahmedabad by Manmohan Singh, then finance minister of India. Securities, Commercial Vehicle & Construction Equipment Loan, Online Fund Positive Alert for Axis Bank: yday Axis Bank and its subsidiaries got regulatory approval for hiking their stake in Max Life. Certain businesses of M/s. It is a non-banking finance company regulated by the RBI. AAMC is in the business of asset management. Axis Bank on 27 July 2017 announced that it has entered into an agreement with Jasper Infotech Private Limited to acquire 100% stake in its subsidiaries viz. Author :ANI. Accelyst Solutions Private Limited was acquired by the Bank (from Jasper Infotech Private Limited) on October 6, 2017, post receiving approval from RBI. Call: 1800-419-5959 Cover arranged by Axis Bank for its customers under Digit Illness Group Insurance Policy (UIN GODHLGP20142V011920). Give a missed call to 8422992272 to receive the download link for Axis Mobile via SMS. [42][43] The product offers loans from ₹100,000 (US$1,400)–₹1.5 million (US$21,000) in small towns (population less than 1 million) and up to ₹2.8 million (US$39,000) in larger towns (population over 1 million), to customers with family incomes of ₹8,000 (US$110)–₹10,000 (US$140) per month and above. The Corporate Office of Axis Bank is located at Axis House Mumbai. ASL is a wholly owned subsidiary of the bank and offers retail asset products, credit cards and retail brokerage services. APE is in the business of managing investments, Enam Securities Pvt. [26], The bank offers lending services to individuals and small businesses, along with liability products, card services, Internet banking, automated teller machines (ATM) services, depository, financial advisory services, and Non-resident Indian (NRI) services. Any actions taken or obligations created voluntarily by the person(s) accessing such web sites shall be directly between such person and the owner of such websites and Axis Bank shall not be responsible directly or indirectly for such action so taken. [23], The bank has nine international offices with branches at Singapore, Hong Kong, Dubai (at the DIFC), Shanghai,[24] Colombo and representative offices at Dhaka, Dubai, Sharjah and Abu Dhabi, which focus on corporate lending, trade finance, syndication, investment banking and liability businesses. [14] In the year 2006, UTI Bank opened its first overseas branch in Singapore. Jul 2, 2020, 20:07 IST. Axis Trustee Services Limited is engaged in trusteeship activities, acting as a debenture trustee and as a trustee to various securitization trusts. The GDRs issued by the Bank are listed on the London Stock Exchange (LSE). Axis Bank is the third largest private sector bank operating in India. It is in the business of providing digital payments services through web- & mobile-based platforms. Send OTP. Any actions taken or obligations created voluntarily by the person(s) accessing such web sites shall be directly between such person and the owner of such websites and Axis Bank shall not be responsible directly or indirectly for such action so taken. *T&C Apply. Axis Bank, subsidiaries to acquire 19% stake in Max Life in revised deal Axis Bank changes plan, cuts stake purchase in Max Life to 17% Axis Bank-Max Life deal: The long road riddled with regulatory concerns Approval from IRDAI on Axis Bank stake hike expected by March: Max Life CEO and 100% on road funding for 7 years with Axis Bank Car Loans. I also agree to Axis Bank/ Subsidiaries/ Affiliates/ Agents contacting me for various other product updates, special offers Third … The share holding of Unit Trust of India was subsequently transferred to SUUTI, an entity established in 2003. ATL undertakes the activities and oerations related to the trade receivable discounting system. Source :ANI. Earlier in October, the Reserve Bank of India (RBI) did not approve Axis Bank''s proposal to raise its stake up to 29 per cent but scaled it down to an aggregate of 19.02% with the subsidiaries Dec 6, 2020 The Bank has 11 subsidiaries; namely, Axis Capital Ltd. (ACL), Axis Securities Ltd. (ASL), Axis Private Equity Ltd. (APE), Axis Trustee Services Ltd. (ATSL), Axis Asset Management Company Ltd. (AAMC), Axis Mutual Fund Trustee The overseas operations of the Bank are spread over eleven international offices with branches at Singapore, Hong Kong, Dubai (at the DIFC), Colombo, Shanghai and Gift City-IBU; representative offices at Dhaka, Dubai, Abu Dhabi, Sharjah and an overseas subsidiary at London, UK. Axis House has received the ‘Platinum’ rating awarded by the US Green Building Council for its environment friendly facilities and reduction of 481.1 crore. with effect from 24th August 2014. and paid-up equity share capital plus one equity share in AMFT. With a balance sheet size of Rs. Ltd.), Axis Securities Europe Ltd. (formerly Enam Securities Europe Ltd.), Enam International Ltd., UAE (voluntarily dissolved with effect from 24 August 2014), Overall Winner & Consistent Performer – (Large Banks Category) –, Bank of the Year – Money Today FPCIL Awards 2012–13, Ranked No 1 in the IT Biz Award – large enterprises category by Express IT Awards, Joint winner under the ‘Most Innovative Broad Based Product Offering’ category -, Best Bank Award among Large Banks for IT For Business Innovation -, Best Bank for Rural Reach in the Private Sector and Best Retail Growth Performance in the Private Sector category –, Axis Bank has been adjudged winner in the Best Bank Category, Outlook Money Awards 2015, Axis Bank awarded for the Best Security among Private Sector Banks in India by, This page was last edited on 27 December 2020, at 01:22. In September 2012, the Bank entered into a strategic partnership with Schroders plc. This is to inform you that by clicking on the hyper-link/ok, you will be accessing a website operated by a third party namely Such links are provided only for the convenience of the Client and Axis Bank does not control or endorse such websites, and is not responsible for their contents. Consequently, penalties of ₹50 million (US$700,000) on Axis Bank, ₹45 million (US$630,000) on HDFC Bank, and ₹10 million (US$140,000) on ICICI Bank were imposed by the Reserve Bank of India. At your request, you are being redirected to a third party site. The paid-up capital of ACL on 31st March 2017 was Rs.73.50 crore. I hereby authorise Axis Bank to share my data with credit bureaus and to obtain my credit profile related data from these credit bureaus, to share such data with Axis Bank and its business partners. 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