Old Name Of Union Bank Of India - 2018-2019 StudyChaCha

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  #1  
Old May 11th, 2016, 07:17 PM
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Default Old Name Of Union Bank Of India

What is old name of Union Bank Of India, do you if yes then tell me about its history , as my brother doing preparation of Bank PO exam and asking it for banking GK section ??
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  #2  
Old May 12th, 2016, 10:24 AM
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Default Re: Old Name Of Union Bank Of India

As per me Union Bank Of India had set with same name and no any old name of it , Union Bank Of India is one of the largest government-owned banks of India (the government owns 60.13% of its share capital)

Union Bank Of India was registered on 11 November 1919 as a limited company in Mumbai, after nationalization, Union Bank merged in Belgaum Bank, a private sector bank established in 1930 that had itself merged in a bank in 1964, the Shri Jadeya Shankarling Bank (Bijapur; incorporated on 10 May 1948).

Then in 1985 Union Bank merged in Miraj State Bank, which had been established in 1929, and which had 26 branches.

In 1999 the Reserve Bank of India requested that Union Bank acquire Sikkim Bank in a rescue after extensive irregularities had been discovered at the non-scheduled bank.

Sikkim Bank had eight branches located in the North-east, which was attractive to Union Bank.

Bank profile :

Type Public company (BSE: 532477)
Industry Financial services
Founded 11 November 1919
Headquarters Mumbai, India
Key people Arun Tiwari
(Chairman & MD)
Revenue 211.44 billion (US$3.1 billion) (2012)
Net income 17.87 billion (US$270 million) (2012)
Owner Government of India
Number of employees 36377(2015)
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