Jan 20, 2020 351


The UBI as a result of the merger in 1950 of four Bengali banks: Banking Corporation Comilla (founded by Narendra Chandra Dutta in 1914 in what is now Bangladesh), Bengal Central Bank (founded by Lanka JC Das in 1918), the Union of Comilla Bank ( founded by LB Dutta Lanka in 1922) and Hooghly Bank (founded by DN Lanka Mukherjeee 1932). Each suffered four runs in December 1950 after the bank failed Nath. Reserve Bank of India helped the banks were merged to form the United Bank of India.

In 1961, it merged with Ubi Kotak Bank (est. June 6, 1913) and the Industrial Bank of Tezpur (est. In June 1918 6, as the first commercial bank in Assam) province. Four years later, in 1965, the Government of Pakistan has taken over the bank's branches in Pakistan.

On July 19, 1969, the Government of India nationalized Ubi, along with 13 other major Indian commercial banks. At the time of nationalization Ubi only had 174 branches. In 1973, it acquired UBI Hindustan Trading Company (NYMEX) Bank (est. 1944). In 1976, UBI Narang company acquired Bank of India, which was established in 1943 in Narang, Gujarat.

MD: Pawan Kumar Bajaj