Axis Bank Internet banking: detailed information

Axis Bank was the first of the new private Banks in India that started its operation in 1994 after Indian government gave licenses to private banks. Previously known as UTI Bank, it was jointly promoted by the Administrator of the Specified Undertaking of the Unit Trust of India (UTI-I), Life Insurance Corporation of India (LIC), General Insurance Corporation Ltd., National Insurance Company Ltd., The New India Assurance Company, The Oriental Insurance Corporation and United Insurance Company Ltd. In April 2007, the bank changed its name to Axis Bank to avoid confusion with other institutions by the same name. Shikha Sharma was named managing director and CEO of the bank on April 20, 2009.

As on year ending on March 31, 2009, bank had a total income of Rs. 13,745.04 crores and net profit of Rs.1,812.93 crores. On February 24, 2010, Axis Bank announced the launch of “AXIS CALL & PAY on atom,” a mobile payment solution using Axis Bank debit cards. Axis Bank is the first bank in the country to provide a secure debit-card based payment system. Currently, Axis Bank has more than 925 branches and more than 3,900 ATMs.

Axis bank is now focusing on human relations. The bank is now taking the assistance of Cerebrus Consultants and Hewitt, two human resource consultancy firms to reshape its HR strategy.

Address:

Axis Bank Limited,

131, Maker Tower – F,

Cuffe Parade,

Colaba,

Mumbai – 400 005.

Tel: (022) 6707 4407

Fax: (022) 2218 1429

For more information visit: http://www.axisbank.com/24x7banking/internetbanking/Internet-Banking.asp

Indian bank employees’ strike severely affected the country

In demand of better wage, pension and hiring “on compassionate ground” eight hundred thousand employees of Indian banks went on a two day strike beginning from August 6, 2009. However, the “new-generation private sector banks” like ICIC Bank, HDFC Bank and Axis Bank were open on that day.

The strike was called upon by United Forum of Bank Unions (UFBU), the head organization which represents four officers’ trade unions and five employee trade unions. UFBU is the representative of more than 95% of the bank employees in India. On the first day, the state run banks and old private banks were shut down as employees did not come to work. Bank employees also organized a big rally at the Azad Maidan in Mumbai. Members of Eastern Zone General Insurance Employees’ union staged a rally in front of the regional office of the Oriental Insurance company.

The UFBU demanded 20% rise in salary, allow Provident funds to another 270,000 employees who applied for it and the 70:30 sharing of the Rs.6000 crore deficit in the pension funds between banks and employees. The Indian Banks’ Association (IBA) offered 17.5% salary hike.

This strike affected the business of the country. In Mumbai, on Thursday, twelve percent of 72000 cheques were submitted for clearance. Normally, 114 banks do clear these cheques but 36 banks were shut down for the strike.

Related articles:

Times of India

The Hindu Business Line