United Bank of India, Western Union tie up
Our Banking Bureau
19 May 2005
Mumbai: United Bank of India (UBI), will provide inbound money transfer services across the country through the Western Union Money Transfer service. The money transfer facility will be available, through Western Union's primary agent, Weizmann Forex Ltd..
to start with at 96 UBI brancheas across the countrym, and will be extended to another 135 branches.
The facility is expected to benefit people in the East and North-east states, where UBI has a particularly strong presence.
United Bank of India (UBI) is one of the 14 major banks, which were nationalised on July 19, 1969. Its predecessor the United Bank of India Ltd., was formed in 1950 with the amalgamation of four banks — Comilla Banking Corporation Ltd. (1914), Bengal Central Bank Ltd. (1918), Comilla Union Bank Ltd. (1922) and Hooghly Bank Ltd. (1932). Its network of 174 branches since nationalisation in July 1969, has grown to 1,310 branches today. In the East and North-east states, where it has a substantial base, the bankl is known as the 'Tea Bank' because of its age-old association with the financing of tea gardens. It has been the largest lender to the tea industry.