India’s Tea Bank – United Bank of India conducts a special SLBC session

            Due to long association with the Tea Industry, United Bank of India occupies a special place in heart of Tea Industry folk. It is also known as Tea Bank amongst its peers.

            As convenor for the West Bengal’s State Level Bankers Committee (SLBC), United Bank of India recently convened a special meeting.

            The theme of the meeting was to drive ‘Financial Inclusion’, in West Bengal in Mission Mode. Under Mission Mode, rollout of the ‘Financial Inclusion’ will be monitored as per predetermined parameters.

The meeting was attending by the two EDs of United Bank – Deepak Narang and Sanjay Arya, State Pricipal Secretary in-charge of Finance, H K Dwivedi, and the Director of the Union Finance Department, Anna Roy, apart from other top executives of the State Government, banks, Reserve Bank of India and Nabard.

            To spread the banking culture in West Bengal, United Bank of India’s team has ensured the following:-     

1. Banking outlets either in the form of BC model or Brick & Mortar Branches have been opened in 11604 nos. of villages having population less than 2000 in West Bengal.
   
2. Banking outlets either in the form of BC model or Brick & Mortar Branches have.been opened in all the 7452 nos. of 2000+ population villages of West Bengal.

United Bank of India – 'The Tea Bank of India', enter the world of IMPS

In August 2011, United Bank of India, launched its mobile banking application. This was the forerunner for launching IMPS for it's customers.

In July 2012, United Bank of India formally launched the IMPS facility for its customers.

UBI is popularly known as 'Tea Bank of India', as it has an age old association with the Indian Tea Industry. UBI is the largest lender to the Indian Tea Industry.

Though United Bank of India, came into existence in 1950, its original roots go back to 1914. United Bank of India, is an amalgamation of 4 bankz viz. Comilla Banking Corporation Ltd. (1914), Bengal Central Bank Ltd. (1918), Comilla Union Bank Ltd. (1922) and Hooghly Bank Ltd. (1932) (which were established in the years indicated in brackets after the names).

UBI is the Lead Bank in 30 districts of West Bengal, Assam, Manipur and Tripura. It also dons the mantle of Convener of the State Level Bankers' Committees (SLBC) for the States of West Bengal and Tripura.

UBI concentrated in spreading the banking services more particularly in Eastern and North-Eastern India. UBI has sponsored 4 Regional Rural Banks (RRB) one each in West Bengal, Assam, Manipur and Tripura. These four RRBs together have over 1000 branches.

UBI has spread the banking services to the people living in the not easily accessible areas of the Sunderbans in West Bengal, UBI had established two floating mobile branches on motor launches which moved from island to island on different days of the week. The floating mobile branches were discontinued with the opening of full-fledged branches at the centers which were being served by the floating mobile branches.

On the way, UNI in 1973 UBI acquired Hindusthan Mercantile Bank and in 1976 UBI acquired Narang Bank of India.

With the introduction of IMPS, the staff of Tea Estates will be the major beneficiaries, as they can now quickly,safely remit/receive money.