United Bank of India Ltd is a public sector banking institution with branches in 28 States and in 4 Union Territories in India. The Bank is currently wholly owned by the Government of India. Their business is principally divided into retail banking, corporate/ wholesale banking, priority sector banking, treasury operations and other banking services such as agency functions for insurance and mutual fund distribution, pension and tax collection services. As on 31 March 2019, the total number of branches/ offices of the Bank stands at 2055. Besides, it has 36 regional offices, 3 staff training centres, 5 extension counters, 3 link offices and 2 overseas representative offices at Dhaka in Bangladesh and Yangon in Myanmar.The Banks retail banking business provides financial products and services to their retail customers. They provide loans and advances for housing, trade, automobiles, consumer durables, education, personal loans and other retail products. They have various deposit products, such as current, savings and term deposits for their customers.The Bank provides commercial banking products and services to corporate customers, including mid-sized and small businesses and government entities. Their loan products include term loans to finance capital expenditure of assets across various industries as well as short-term loans, cash and export credit and other working capital financing and bill discounting facilities. They also provide credit substitutes, such as letter of credit and letter of guarantee.The Bank offers direct financing to farmers for production and investment, as well as indirect financing for infrastructure development and credit to suppliers of agricultural inputs. They also offer a wide range of general banking services to their customers including debit cards, cash management, remittance services and collection services They distribute third party products such as life and non-life insurance policies and mutual funds on an agency basis. Also, they act as agent for various state governments and the Government of India on numerous matters including the collection of taxes and payment of salary and pension.The Bank delivers their products and services through their branches, extension counters, ATMs, Internet banking and tele banking. They sponsor four Regional Rural Banks in collaboration with the Central Government and the state governments of West Bengal, Assam, Manipur and Tripura.The Bank has a pan India presence through 1,505 branches and 270 ATMs in 28 States and in 4 Union Territories in India as of January 31, 2010 and 1 representative office in Dhaka, Bangladesh. In particular, we have a large presence in eastern and northeastern regions with 973 and 258 branches respectively. Multiple delivery channels and large distribution infrastructure has resulted in giving us access to a large customer base spread across India particularly in eastern and north eastern regions.United Bank of India Ltd was incorporated on October 12, 1950. The Bank was formed with the amalgamation of four banks, namely Comilla Banking Corporation Ltd, Bengal Central Bank Ltd, Comilla Union Bank Ltd and Hooghly Bank with the bank. In the year 1964, the Bank set up a Staff Training college at Kolkata.The Bank was one of the 14 major banks which were nationalised on July 19, 1969. After nationalization, the Bank expanded their branch network in a big way and actively participated in the developmental activities, particularly in the rural and semi-urban areas in conformity with the objectives of nationalization. In the year 1970, they set up mobile branches.In the year 1973, Hindustan Mercantile Bank Ltd merged with the Bank and in the year 1976, Narang Bank of India merged with the Bank. In the year 1980, the Bank was appointed as Convener of State Level Bankers Committee in West Bengal, Tripura and Manipur. In the year 1993, the Bank brought their first branch under total branch mechanism. In the year 2000, they rolled out their first CBS branch.In the year 2007, the Bank set up United Bank Socio - Economic Development Foundation Trust for rendering assistance to the weaker and under privileged sections of the society. They set up their first Rural Development & Self Employment Training Institute for providing residential training to small farmers and unemployed youth free of cost.In the year 2009, the Bank achieved 100% CBS for all their branches. As of January 31, 2010, their domestic branch network of 1,505 branches comprised 622 rural, 262 semi urban, 333 urban and 288 metropolitan branches.In March 25, 2010, the Bank opened their 1530 branch at Salt Lake under Kolkata (North) Region.During the current Financial Year 2012-13, 26 Retail Hubs were functioning in 21 Regions of the Bank. Retail Hubs mobilized more than 12500 proposals amounting Rs. 1275 crore during the year. The hubs also expedited appraisal, sanction and disbursement of Retail Loans there by substantially reducing the turnaround time (TAT). During FY 2013-14, 26 Retail Hubs functioning in 21 Regions of the Bank sanctioned 9522 retail credit proposals amounting to Rs.1087 crore.Bank entered into / renewed the tie-up arrangement during FY 2013-14 with various renowned manufacturers of commercial vehicle, construction equipment, solar system manufactures/dealers such as Tata Motors, Hindustan Motors, Volvo Eicher, USG Automobiles (Dealer of Force Motors for West Bengal), Piaggio, Kirti Solar, Hyundai Construction Equipments & Tata Power Solar, for extending credit to buy equipment. Further, Bank signed MoU with NSIC, SIDBI & IIE, Guwahati, leading players in MSME Sector for sponsoring quality MSME proposals to its branches. During FY 2015-16, 24 Retail Hubs functioning in 23 Regions of the Bank sanctioned 6955 retail credit proposals amounting to Rs. 1028.83 Crore.During FY 2016-17, 24 Retail Hubs functioning in 24 regions of the Bank sanctioned 6969 retail credit proposals amounting to Rs. 1014 Crore.During the financial year 2016-17, Bank sold 7392 policies of LICI (life) with a premium collection of Rs.81.15 Crore and paid Rs.35.34 Crore as premium against 106790 policies to BAGIC (non-life) during the same period.As on 31 March 2017 the total number of branches of the Bank stands at 2053. The bank has 5 Extension Counters & 36 Regional offices across the country.In financial year 2019, under Corporate Agency Arrangement Bank has further tied with up with HDFC Life Insurance Co. Ltd. in addition to LIC of India as a new insurance partner under Life vertical and two partners Bajaj Allianz General Insurance Co. Ltd. and TATA AIG General Insurance Co. Ltd. under Non Life vertical and Star Health and Allied Insurance Co. Ltd. under Standalone Health vertical.During the year 2018-19, the Bank opened a Retail Hub at Vesu (Surat) on 23 October 2018 and five SAMB (Stressed Asset Management Branch) were opened and Penlong Branch was opened on 25 June 2018.The total network of branches of the four Regional Rural Banks (RRBs) as on 31 March 2019 was 1174.
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