Govt to focus on Axis Bank divestment

NEW DELHI:  The government is focussing on divesting a part of the stake held by Special Undertaking of UTI in Axis Bank as the proposed SUUTI Exchange Traded Fund has hit a roadblock, a senior finance ministry official said.   SUUTI, which was formed in 2003 with the leftover assets of US-64 scheme of Unit Trust of India, currently holds 11.65% stake in Axis Bank.