PUBLIC SECTOR BANKS IN INDIA – UNITED BANK OF INDIA
PUBLIC SECTOR BANKS OF INDIA – UNITED BANK OF INDIA
United Bank of India (UBI) is a state-owned financial services company headquartered in Kolkata City India. Presently the bank has a three-tier organizational setup consisting of its Head office in Kolkata. It has 31 Regional offices and 1600 branches spread all over India. However, its major presence is in eastern India. Due to a common acronym (UBI), which it shares with Union Bank of India, which also has an all-India presence, the public sometimes confuses the two banks.
On 30 March 2009, the Indian government decided to approve the restructuring of United Bank of India. 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.
The United Bank of India has three full fledged Overseas Branches one each at Kolkata, New Delhi and Mumbai with fully equipped dealing room and SWIFT terminal. Operations of all the branches have since been computerized and Electronic Fund Transfer System came to be implemented in the Bank’s branches across the country. The Bank has ATMs all over the country and customers can use United International Debit Card at all VISA ATMs across the globe.