BANKING AFFAIRS

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Union Bank of India is one of the largest government-owned banks of India. Where is the head office of Union Bank of India?

A	Kolkata
B	Pune
C	New Delhi
D	Mumbai

Explanation:

Detailed explanation-1: -The Bank, having its headquarters at Mumbai (India), was registered on November 11, 1919 as a limited company. Recently, Andhra Bank and Corporation Bank were amalgamated into Union Bank of India with effect from 01.04.2020.

Detailed explanation-2: -State Bank of India (SBI) Having 23% of shares of the total market assets in India, this bank is the largest public sector bank of India and tops the list of best bank in India. It also holds 1/4th of the total loans and deposits in the current financial market.

Detailed explanation-3: -Union Bank of India (UBI) was registered on 11 November 1919 as a limited company in Mumbai and was inaugurated by Mahatma Gandhi. At the time of India’s Independence in 1947, UBI only had four branches – three in Mumbai and one in Saurashtra, all concentrated in key trade centres.

There is 1 question to complete.