UBI Full form
The full form of UBI is United Bank of India
Full form of UBI
While preparing for banking exams, many candidates ask what the full form of UBI is. The full form of UBI is the United Bank of India. In August 2019, Finance Minister Nirmala Sitharaman announced that PNB, Oriental Bank, and United Bank would merge to form India's second largest public sector bank with 17.95 billion rupees (1.5 times that of PNB).
The merger of the three institutions took effect on April 1, 2020. The merger resulted in the country's second-largest nationalized ban on business and branch networks. The synergy created by the merger resulted in PNB 2.0, an internationally competitive next-generation bank. With more than 11,000 branches, more than 13,000 ATMs, one million employees, and a business mix of over Rs 18 crore, the merged bank now has a greater geographical reach. They can better serve their clients because they have a larger geographic footprint.
Organizational Structure Of UBI
(UBI) United Bank of India and Punjab National Bank merged on 1 April 2020. The organizational structure of UBI is now identical to that of Punjab National Bank. The previous organizational structure of the bank is shown below.
| Name | Position |
| Ashok Kumar Pradhan | Managing Director and CEO |
| Ajit Kumar Das | Executive Director |
| Sidharta Pradhan | Part-Time Non-Official Director |
| Sameer Kumar Khare | Government Nominee Director |
| Sanjay Kumar | Executive Director |
| Dinesh Singh | Part-Time Non-Official Director |
| S Suryanarayana | Shareholder Director |
| Rajesh Kumar | Nominee Director |
UBI Headquarters
On 19 July 1969, the United Bank of India was incorporated under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970. It was a government-owned Indian bank headquartered in Calcutta, India.
Functions and Products of UBI
The bank's operations are broad as it offers various banking products such as mini statements, balance enquiries, internet banking, and customer service. Its deposit accounts and credit services include current accounts, home loans, savings accounts, vehicle loans, two-wheeler loans, education loans and personal loans, to name a few.
Fixed deposits, recurring deposits, credit cards, and debit cards are among the bank's investment and card services.
The bank's net banking allows customers to monitor account balances, transfer payments, pay bills online and recharge mobile phones, among other things.
Vacancies in UBI
Applicants can learn more about the financial institution, what it's like to work there and how to apply for open opportunities on the PNB Careers website.
Frequently Asked Questions
The full form of UBI is Universal Basic Income. It is an economic policy where the government provides all citizens or residents with a fixed, unconditional amount of money on a regular basis to cover basic living expenses. UBI aims to reduce poverty, address inequality, and provide financial security for everyone, regardless of employment status.
Universal Basic Income (UBI) works by providing a fixed amount of money to all citizens without any means testing or work requirements. The idea is to ensure that every individual has enough income to meet their essential needs, such as food, shelter, and healthcare, helping reduce financial insecurity and promoting social welfare.