CHANGE MANAGEMENT

Change management is a structured approach to transitioning individuals,

teams, and organizations from a current state to a desired future state. The
current definition of Change Management includes both organizational change
management processes and individual change management models, which
together are used to manage the people side of change.

FORMULA FOR CHANGE

A Formula for Change was developed by Richard Beckhard and David

Gleicher and is sometimes referred to as Gleicher's Formula. The Formula
illustrates that the combination of organisational dissatisfaction, vision for the
future and the possibility of immediate, tactical action must be stronger than the
resistance within the organisation in order for meaningful changes to occur.

CHANGE MANAGEMENt ---- UTI BANK

UTI BANK:
1993
The Bank was incorporated on 3rd December and Certificate of Business on

14th December. The Bank transacts banking business of all

description.
UTI Bank Ltd. was promoted by
 Unit Trust of India
 Life Insurance Corporation of India
 General Insurance Corporation of India
 National Insurance Company Ltd
 The New India Assurance Company
 The Oriental Insurance Corporation and United Insurance Company Ltd
The bank was the first private sector bank to get a license under the new
guidelines issued by the RBI.

1997
The Bank obtained license to act as Depository Participant with NSDL and
applied for registration with SEBI to act as `Trustee to Debenture Holders'.
100 crores was contributed by UTI, the rest from LIC Rs 7.5 crores, GIC and its
four subsidiaries Rs 1.5 crores each.

1998
The Bank has 28 branches in urban and semi urban areas as on 31st July. All
the branches are fully computerised and networked through VSAT. ATM
services are available in 27 branches.
The Bank came out with a public issue of 1,50,00,000 No. of equity shares of
Rs 10 each at a premium of Rs 11 per share aggregating to Rs 31.50 crores and
Offer for sale of 2,00,00,000 No. of equity shares for cash at a price of Rs 21
per share. Out of the public issue 2,20,000 shares were reserved for allotment
on preferencial basis to employees of UTI Bank. Balance of 3,47,80,000 shares
were offered to the public.

2000
Geojit Securities Ltd, the first company to start online trading services, has
signed a MoU with UTI Bank to enable investors to buy\sell demat stocks
through the company's website.

Indiabulls has signed a memorandum of understanding with UTI

Bank.
UTI Bank has entered into an agreement with Stock Holding Corporation of
India for providing loans against shares to SCHCIL's customers and funding
investors in public and rights issues.
ICRA has upgraded the rating og UTI Bank's Rs 500-crore certificate of deposit
programme to A1+.

2001
UTI Bank launched a private placement of non-convertible debentures to raise
up to Rs 75 crore.
UTI Bank has recorded a 62 per cent rise in net profit for the quarter ended
September 30, 2001, at Rs 30.95 crore. For the second quarter ended September

30, 2000, the net profit was Rs 19.08 crore. The total income of the
bank during the quarter was up 53 per cent at Rs 366.25 crore.

2002
UTI Bank Ltd has informed BSE that Shri B R Barwale has resigned as a

Director of the Bank w.e.f. January 02, 2002. A C Shah, former

chairman of Bank of Baroda, also retired from the bank’s board in the third
quarter of last year. His place continues to be vacant. M Damodaran took over
as the director of the board after taking in the reins of UTI. B S Pandit has also
joined the bank’s board subsequent to the retirement of K G Vassal.
UTI Bank Ltd has informed that Shri Paul Fletcher has been appointed as an
Additional Director Nominee of CDC Financial Service (Mauritius) Ltd of

the Bank.And Shri Donald Peck has been appointed as an

Additional Director (nominee of South Asia Regional Fund) of the

Bank.
UTI Bank Ltd has informed that in the meeting of the Board of Directors
following decisions were taken: Mr Yash Mahajan, Vice Chairman and
Managing Director of Punjab Tractors Ltd was appointed as an Additional
Director with immediate effect. Mr N C Singhal former Vice Chairman and
Managing Director of SCICI was appointed as an Additional Director with
immediate effect.
UTI Bank Ltd has informed that Shri J M Trivedi has been appointed as an
alternate director to Shri Donald Peck with effect from November 2, 2002.

2004
UTI Bank Ltd has informed that Shri Ajeet Prasad, Nominee of the
Administrator of the Specified Undertaking of the Unit Trust of India (UTI - I)

has been appointed as an Additional Director of the Bank w.e.f.

January 20, 2004.

2005
UTI Bank enters into a banc assurance partnership with Bajaj Allianz General
for selling general insurance products through its branch network.
2006
UTI Bank unveils priority banking lounge.

UTI AXIS

The UTI brand name was given to us by the promoters. The name has grown
on us. The change in name is on account of several shareholder-unrelated
entities using the UTI brand and the consequent brand confusion. The new
name, Axis Bank, will give us a brand of our own."
- P Jayendra Nayak, Chairman & Managing Director, Axis Bank, in July 2007.

REASONS:
The name of the country's third largest private sector lender UTI Bank has been
officially changed to the Axis Bank Ltd with effect from 31st July,2007. Some
reasons for change in name of 'UTI Bank to Axis Bank' are......
➢ The UTI brand is owned by UTI Asset Management Company.
➢ UTI Bank was started as a part of the entire UTI (Unit Trust of India)
Group. But, when there were losses incurred by UTI ( due to failure of
US 64 scheme probably ) because of other reasons, it was decided by
RBI that UTI Bank should be separated as private sector bank, as several
unrelated entities were using the UTI brand.

➢ Axis Bank is born out of the pressure on UTI Bank to shed its brandname
after the split of the erstwhile UTI. Though UTI was a government
instutition, its subsidiary UTI Bank has been categorised as a private
sector bank, according to RBI guidelines.
 ➢ The name change to Axis Bank means that UTI Bank has undergone a
rebranding exercise. The rebranding process is complete on September
2007.

➢ After the split of UTI, entities like UTI Securities, UTI MF and UTI
Bank were all allowed to retain the UTI brand name for a while. Now
that it is time for UTI Bank to shed the brand name, it has opted to go for
the more modern-sounding Axis Bank.

"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. The name will take effect
consequent to the approval of shareholders, Reserve Bank of India and the
Central Government (Registrar of Companies)," the bank said.

NEW LOGO:
The bank has retained the burgundy colour, but has
changed the logo. The logo uses the alphabet 'A' from the
word Axis. The logo depicts a strong growth path for the
bank supported by a strong base, indicating that the bank
is moving on from a position of strength. Earlier, the
bank's logo used the letters U, T and I.

“We had to change our name to have our own brand and identity. We had to
give up the UTI name after using it for 13 years as we were not prepared to
accept terms and conditions (including royalty) from UTI AMC to use the
name,” explained Nayak, adding that the new name was chosen considering
the bank’s pan-Indian as well as international presence.
“Now we will be seen without a public sector connotation’’
Regarding the re-branding strategy, Executive director (corporate strategy) of
the bank R Ashok Kumar said the bank had hired advertising firm O&M to help
in creating awareness of the new brand across the country. The bank would
change logo and colour of logo, he had said, adding, the bank is likely to spend
around Rs 50 crore (Rs 500 million) in the re-branding exercise.

"It's [the change in name] something very serious, something that would give
people sleepless nights if there was a hint that it's a takeover or something
fundamentally changing. So, we were very sensitive about this and the
number one thing we wanted to communicate is encapsulated in the line -
that everything is the same except the name."
- Sumanto Chattopadhyay, Group Creative Director, Ogilvy & Mather
 AFTER
UTI AXIS
AXIS Bank Limited provides corporate and retail banking products in India. It
offers retail loans, corporate credit, foreign exchange services, investment
banking, depository services, and investment advisory services. The company
provides wealth advisory services for direct equities, mutual funds, insurance,
and real estate products; and financial advisory services, such as bank balances,
deposits, depository holdings, mutual fund investments, RBI Bonds, and loans.
It also offers corporate banking products, such as credit, trade finance for
domestic and international transactions, structured finance, project finance, and
syndication services; treasury service that manages the funding of the balance
sheet, domestic and foreign currency resources, and compliance with statutory
reserve requirements; and business banking services, such as current account
products and cash management solutions to corporates, institutions, central and
state government ministries and undertakings, and businesses. In addition,
AIXS Bank involves in equity and debt capital market activities; provides
corporate restructuring advisory services, as well as mergers and acquisitions
advisory services; arranges services for acquisition funding, infrastructure, and
project advisory services; and offers techno-economic feasibility reports and
bid process management. Further, it offers trusteeship services, as well as
conducts a depository participant business. The company offers Internet and
mobile banking; and facilities for bill payments, NRI services, shop online,
financial advice, and retail loans. As of March 15, 2008, it had a network of
634 branches, 20 extension counters, and 2,699 automated teller machines.
AXIS Bank also operates branches in Singapore, Hong Kong, and Dubai; and a
representative office in Shanghai, China.
AXIS BANK – HIGHLIGHTS

Network – 580 branches and extension counters

4 foreign offices – in Singapore, Hong Kong, Shanghai and Dubai

2457 ATMs

reaches out to 350 cities, towns and villages across the country
Business (as on 30th June 07) – Total Business over 102,000 crores

Deposits: 61091 crores

Advances: 41285 crores

Leadership positions: Market Capitalisation: 21817 crores (on 27th July 07)-
5th largest in India

2457 ATMs –Among top 3 deployers in India

64 lakh debit cards – Among top 3 issuers in India

48,000 EDC machines – Among top 3 deployers in India

2322 CMS clients – Among the top players

Debt syndication - among the top 3 arrangers of
corporate debt in India.

SHARE PRICES (18 June 2009):

BSE : Jun 18, 17:30

731.90 11.05 (1.53%)

Open 738.00
High 750.85
Low 700.00
Prev. Close 720.85

NSE : Jun 18, 17:30

733.00 11.40 (1.58%)

Open 727.00
High 751.00
Low 699.00
Prev. Close 721.60