Union Bank of India
About Union Bank of India
Union Bank of India is one of the leading public sector banks in India. Established in 1919, it has grown to become one of the prominent banks in the Indian banking sector. Headquartered in Mumbai, the bank has a vast network of branches and ATMs across India and maintains a significant presence in the international banking market. Union Bank of India is known for its customer-centric approach and commitment to financial inclusion. The bank offers a wide range of banking products and financial services to meet the diverse needs of its customers.
History of Union Bank of India
Union Bank of India was founded on 11 November 1919 in Bombay (now Mumbai) by Shri Sethanna Chetty, Shri G.C. Choksey, Shri T.V. Engineer, and Shri P.C. Bhura. The bank was established with the vision of providing banking services to the Indian business community. Initially, it operated from a small office in the heart of Mumbai, focusing on trade finance and merchant banking services.
Over the decades, Union Bank of India has grown significantly through organic expansion and strategic initiatives. The bank played a crucial role in financing India's industrial development and has been instrumental in promoting financial inclusion. In recent years, Union Bank of India has undergone significant transformation through mergers and acquisitions. In 2020, it merged with Andhra Bank and Corporation Bank, which significantly enhanced its market presence and branch network.
The bank has consistently adapted to changing banking technologies and customer needs, positioning itself as a modern, customer-friendly bank. It has been at the forefront of digital banking initiatives and has introduced several innovative products and services to cater to the evolving needs of its customers.
Union Bank of India Services
Union Bank of India offers a comprehensive range of banking products and financial services to its customers, including:
- Retail Banking Services - Savings accounts, current accounts, fixed deposits, recurring deposits
- Corporate Banking Services - Working capital finance, project finance, trade finance
- Loans and Credit Facilities - Home loans, personal loans, auto loans, education loans, business loans
- NRI Banking Services - NRO accounts, NRE accounts, FCNR accounts, remittance services
- Debit and Credit Cards - Wide range of cards with various benefits and rewards
- Digital Banking Services - Internet banking, mobile banking, Union Bank of India app
- Investment Services - Mutual funds, insurance products, demat services
- Government Banking - Treasury services, government business handling
Unique Facts about Union Bank of India
- Union Bank of India was established in 1919 and is one of the oldest banks in India.
- The bank has one of the largest branch networks among Indian public sector banks.
- After the merger with Andhra Bank and Corporation Bank, it became one of the top 5 banks in India.
- Union Bank of India was the first Indian bank to computerize its operations in the 1980s.
- The bank has a strong focus on financial inclusion and rural banking.
You can find contact details and all the codes of all the Union Bank of India branches in India here.