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UBI – Union Bank of India
UBI Full-Form refers to Union Bank of India. UBI is among the biggest banks in India that are owned by the government. Over sixty-three per cent of the bank’s share capital is owned by the Indian Government. The foundations of UBI were laid in the year 1919. Its headquarters are present in Mumbai. All the branches of this bank are connected through over six thousand. ATMs as of the year 2015. The online facility of telebanking is made available by the bank to all its customers. Its representative offices can be found in London, Beijing, Abu Dhabi, Shanghai, China, and the UAE. Additionally, it has branches in Antwerp, Hong Kong, Sydney, and Dubai. In India, it has more than four thousand branches that are spread all over India.
Union Bank of India provides various innovative services and products to its customers. It offers a large range of retail loans, tax payments, gold coins, insurance, credit cards, deposit schemes, pension, etc. It also offers alternative methods of banking to its customers like mobile banking, internet banking, and ATMs. This bank also provides international services like currency swaps, currency futures and exchange rate feeds. It offers numerous kinds of finances for post-shipment as well as pre-shipment needs of exporters. Additionally, it provides import services like issuing letters of credit, importing bills, etc.
A complete range of services and products for Tertiary, SSI, and Agricultural sector is offered by the UBI. Since this range is quite large as well as varied, it satisfies all customer segments. The facility of short-term credit is available for providing financing for purchasing pesticides, fertilizers, seeds, etc. The business cell of the bank provides products like pension payments, deposit schemes such as PPFA or Public Provident Fund Accounts’, and opportunities of investing in the Government Bonds. Last but not least; UBI has special branches to catering to the Non-resident Indians. These branches provide easy and speedy remittances, international credit/debit cards, special deposit schemes, online donation facility, internet banking, home loans, etc.
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