Axis Bank was India's first new private sector bank established in 1994. It was originally called UTI Bank but changed its name to Axis Bank in 2007 to reduce brand confusion and signal it was an independent bank, not government-owned. Axis Bank expanded its strategy over time to become both customer-centric and also focus on service excellence and product innovation. This differentiated approach helped Axis Bank increase its market share despite intense competition.

2. Introduction Axis Bank was the first of the new private banks to have begun operations in 1994, after the Government of India allowed new private banks to be established The Bank has 11 members on the Board. Dr. P. J. Nayak is the Chairman and CEO of the Bank

3. PROBLEM WHY THEY CHANGE THEIR NAME FROM UTI TO AXIS BANK

4. THERE ARE 2 MAIN REASONS 1. The recommendation for name change to Axis Bank has arisen from the existence of several shareholder-unrelated entities using the UTI brand, and the consequent brand confusion that this generates

5. 2. The name UTI bank was changed to AXIS bank as UTI gave a look of government sector bank. Hence they wanted to tell that they are independent banks

6. How their strategy changed after that… Earlier they were only customer centric… NOW they have added Service centric and product innovation into their strategy.

7. Conclusion !!!! AXIS bank has differentiated itself very well on the basis of high level service and product quality. They have successfully implemented the change and due to this their market share has increased only despite of tough competition prevails.