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Union Bank of India, commonly referred to as Union Bank , is an Indian public sector bank headquartered in Mumbai. It has 153+ million customers and a total business of Rs.21,36,405 crores as of June 30 2024 . [7] After the merging with Corporation Bank and Andhra Bank, which came into effect on 1 April 2020, the merged entity became one of the ...
Office. Managing Director and Chief Executive Officer of Bank of India. Predecessor. Atanu Kumar Das. Rajneesh Karnatak is an Indian career banker who serves as the managing director and chief executive officer (CEO) of Bank of India, [1] a public sector bank in India. [2][3] He was appointed to this position by the government of India in 2023.
He was a member of the Faculty of Union Bank Staff Training establishment at Bangalore for nearly seven years after exposure at field level from 1972 to 1981. Soon thereafter, he was posted to the Zonal Office of the bank. Union Bank's Zonal Office was going through a challenging phase being amongst the pioneers to introduce credit cards in India.
He joined the Indian Audit and Accounts Service and worked in a number of roles. He played a key role in the nationalization of Indian banks. [6]A large chunk of his civil service years were spent in the banking division (later department) of the Union finance ministry as a key official who helped draft laws that led up to bank nationalisation and thereafter to a supervisory structure for ...
A 60% stake was taken by the Reserve Bank of India and the new bank was named State Bank of India. The seven other state banks became subsidiaries of the new bank in 1959 when the State Bank of India (Subsidiary Banks) Act, 1959 was passed by the Union government. [1]
A branch in Los Angeles. Union Bank was an American national bank with 398 branches in California, Washington, and Oregon. It was owned by MUFG Americas Holdings Corporation and was acquired by U.S. Bancorp in December 2022. It was headquartered in New York City and had commercial branches in Dallas, Houston, New York City, and Chicago, and two ...
The oldest bank in India is The Madras Bank (1683), followed by the Bank of Bombay, founded in 1720, which is then followed by the Bank of Hindustan, founded in 1770. The oldest bank still in operation is the State Bank of India, whose origins can be traced back to the Bank of Calcutta. It was founded in 1806, though the tenth to be founded. [1]
Parent. Government of India. Capital ratio. 15.68% (June 2024) [4] Website. www.centralbankofindia.co.in. The Central Bank of India (CBI) is an Indian public sector bank based in Mumbai. [5] Despite its name, it is not the central bank of India. The Indian central bank is the Reserve Bank of India.