History of 5 Banks in India
United Bank of India (UBI) is a state-owned financial services company headquartered in Kolkata, West Bengal, India. Presently the bank has a three-tier organizational setup consisting of its Head office in Kolkata, 34 Regional offices and 1700 branches spread all over India. However, its major presence is in eastern India.
On March 30, 2009, the Indian government decided to approve the restructuring United Bank of India.[1] The cabinet has approved the government's proposal to investing 2.50 billion rupees in shares by March 31, and another 5.50 billion in the next fiscal year in Tier-I capital instruments. The move is part of the Indian government's program to improve the capital base of the state-owned banks.
History[edit]
UBI was the result of the merger in 1950 of four Bengali banks: Comilla Banking Corporation (founded by Narendra Chandra Dutta in 1914 in what is now Bangladesh), Bengal Central Bank (founded by Sri J.C. Das in 1918), Comilla Union Bank (founded by Sri L.B. Dutta in 1922) and Hooghly Bank (founded by Sri D.N. Mukherjeee 1932).
1961 UBI merged in Cuttack Bank and Tezpur Industrial Bank.
In 1965, the Government of Pakistan took over the bank's branches in Pakistan.
1969 On 19 July, the Government of India nationalized UBI, along with 13 other major Indian commercial banks. At the time of nationalization UBI had only 174 branches.
1973 UBI acquired Hindusthan Mercantile Bank.
1976 UBI acquired Narang Bank of India, which had been established in 1943 in Narang, Gujrat.
State Bank of India
State Bank of India (SBI) is a multinational banking and financial services company based in India. It is a government-owned corporation with its headquarters in Mumbai, Maharashtra. As of December 2012, it had assets of US$501 billion and 15,003 branches, including 157 foreign offices, making it the largest banking and financial services company in India by assets.[2]
The bank traces its ancestry to British India, through the Imperial Bank of
On March 30, 2009, the Indian government decided to approve the restructuring United Bank of India.[1] The cabinet has approved the government's proposal to investing 2.50 billion rupees in shares by March 31, and another 5.50 billion in the next fiscal year in Tier-I capital instruments. The move is part of the Indian government's program to improve the capital base of the state-owned banks.
History[edit]
UBI was the result of the merger in 1950 of four Bengali banks: Comilla Banking Corporation (founded by Narendra Chandra Dutta in 1914 in what is now Bangladesh), Bengal Central Bank (founded by Sri J.C. Das in 1918), Comilla Union Bank (founded by Sri L.B. Dutta in 1922) and Hooghly Bank (founded by Sri D.N. Mukherjeee 1932).
1961 UBI merged in Cuttack Bank and Tezpur Industrial Bank.
In 1965, the Government of Pakistan took over the bank's branches in Pakistan.
1969 On 19 July, the Government of India nationalized UBI, along with 13 other major Indian commercial banks. At the time of nationalization UBI had only 174 branches.
1973 UBI acquired Hindusthan Mercantile Bank.
1976 UBI acquired Narang Bank of India, which had been established in 1943 in Narang, Gujrat.
State Bank of India
State Bank of India (SBI) is a multinational banking and financial services company based in India. It is a government-owned corporation with its headquarters in Mumbai, Maharashtra. As of December 2012, it had assets of US$501 billion and 15,003 branches, including 157 foreign offices, making it the largest banking and financial services company in India by assets.[2]
The bank traces its ancestry to British India, through the Imperial Bank of