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UTI Bank Limited (UTI)

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Monday 04 June, 2007

UTI Bank Limited

Resolutions passed at AGM

UTI Bank Limited
01 June 2007

Sub: UTI Bank Limited - Resolutions passed by shareholders at AGM held on 1st
June, 2007



At the Annual General Meeting held today at Ahmedabad the following resolutions
were passed by the shareholders of the Bank :

1. Shri Surendra Singh, Dr. R. H. Patil and Smt. Rama Bijapurkar retired by
   rotation and were reappointed as Directors.

2. Payment of dividend at @45% (i.e. Rs. 4.50 per equity share). The Dividend
   arrants will be dated and payable from June 2, 2007.

3. M/s S. R. Batliboi & Co. were reappointed as the Statutory Auditors of
   the Bank for the year 2007-08.

4. To revise the remuneration payable to Shri P. J. Nayak as Chairman and
   Managing Director w.e.f. 1st April, 2007.

5. To change the name of the Bank from 'UTI Bank Limited' to 'Axis Bank
   Limited' and to make necessary changes in the Memorandum and Articles of
   Association and other documents to that effect.

6. To alter the Articles of Association in respect of appointment of
   whole-time Chairman of the Bank. This amendment to the Articles of 
   Association will be effective from 1st August, 2007.

7. In accordance with Section 10-B of the Banking Regulation Act, 1949 and
   subject to approval by Reserve Bank of India, to appoint Shri. P. J. Nayak as
   the whole-time Chairman of the Bank for the period 1st August, 2007 to 31st
   July, 2009.

8. Subject to approval of Reserve Bank of India, to approve remuneration
   payable to Shri P. J. Nayak as the whole-time Chairman of the Bank w.e.f 1st
  August, 2007.




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