UCO Bank

UCO Bank, formerly United Commercial Bank, established in 1943 in Kolkata, is a major government-owned commercial bank of India. During FY 2013-14, its total business was 4.55 lakh crore. Based on 2014 data, it is ranked 1860 on Forbes Global 2000 List. UCO Bank was ranked 294th among India's most trusted brands according to the Brand Trust Report 2014, a study conducted by Trust Research Advisory.[2] It was a rise of 796 ranks considering it was listed at the 1090th position among India's most trusted brands in the Brand trust Report 2013.[3] As of 30 March 2017 the bank had 4,000 plus service units 49 zonal offices spread all over India. It also has two overseas branches in Singapore and Hong Kong. UCO Bank's headquarters is on BTM Sarani, Kolkata.

UCO Bank
IndustryBanking, Financial services
Founded6 January 1943
HeadquartersKolkata, West Bengal, India
Area served
Key people
Shri. Atul Kumar Goel
(MD & CEO)
ProductsConsumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, wealth management
RevenueDecrease 18,560.97 crore (US$2.6 billion)(2016)[1]
Decrease 3,603 crore (US$500 million) (2016)[1]
Decrease -2,799.25 crore (US$−390 million) (2016)[1]
Total assetsDecrease244,882.53 crore (US$34 billion) (2016) [1]
OwnerGovernment of India
Number of employees
24,724 (2016)[1]
Capital ratio9.63% (2016)[1]


Ghanshyam Das Birla, founder of UCO Bank

G. D. Birla, an eminent Indian industrialist, during the Quit India movement of 1942, conceived the idea of organising a commercial bank with Indian capital and management, and the United Commercial Bank Limited was incorporated to give shape to that idea. The bank was started with Kolkata as its head office with an issued capital of 2 crores and a paid-up capital of 1 crore. Birla was its chairman and the Board of Directors included eminent personalities of India drawn from many fields. The bank opened 14 branches simultaneously across India.

After World War II, United Commercial Bank opened several overseas branches. The first, in 1947, was in Rangoon. Branches in Singapore (1951), Hong Kong (March 1952), London (1953), and Malaysia followed. In 1963 the Burmese Government nationalized United Commercial Bank's three branches there, which became People's Bank No. 6.[4]

On 15 September 1967, Jalpaiguri Banking and Trading Corporation (JBTC) which had been established in Jalpaiguri in 1887 (or 1889; accounts differ), made a voluntary transfer of its assets and liabilities to United Commercial Bank. JBTC had only one office and specialised in lending against mortgages on tea gardens.

The Government of India nationalised United Commercial Bank on 19 July 1969. The nationalised bank continued the operations of the overseas branches in London, Singapore, and Hong Kong. However, Malaysian law forbade foreign government ownership of banks in Malaysia. Therefore, United Commercial, Indian Overseas Bank, and Indian Bank contributed their operations in Malaysia to a new joint-venture bank incorporated in Malaysia, United Asian Bank, with each of the three parent banks owning a third of the shares. At the time, Indian Bank had three branches, and Indian Overseas Bank and United Commercial Bank had eight between them.

An act of parliament changed the bank's name to UCO Bank in 1985, as a bank in Bangladesh existed with the name "United Commercial Bank", which caused confusion in the international banking arena.

In 1991, Bank of Commerce acquired United Asian Bank; in time CIMB came to own Bank of Commerce.

In 1998, UCO closed its London branch. Bank of Baroda acquired the assets and liabilities, but not the personnel, who were made redundant.

Current market position

As on 31 March 2012, government share-holding in the bank was 84%. Branch expansion started at a fast pace, particularly in rural areas, and the bank achieved several unique distinctions in Priority Sector lending and other social uplift activities. To keep pace with the developing scenario and expansion of business, the Bank undertook an exercise in organisational restructuring in the year 1972. This resulted in more functional specialisation, decentralisation of administration and emphasis on development of personnel skill and attitude. Side by side, whole hearted commitment into the government's poverty alleviation programmes continued and the convenorship of State Level Bankers' Committee (SLBC) was entrusted on the Bank for Odisha and Himachal Pradesh in 1983.total numbers of branch more than 4,000.


UCO Bank 20180823 144517
UCO Bank Head Office at Kolkata

Board of Directors

As of November 2018, the UCO Bank Board of Directors has six members:[5]

  • Shri Atul Kumar Goel (MD & CEO)
  • Shri Charan Singh (Executive Director)
  • Shri Anil Sharma (Director)
  • Dr. Asish Saha (Director)
  • Ms. Sindhu Pillai (Director)
  • Shri K. Rajivan Nair (Director)
  • Dr. Arvind Sharma (Director)


As of January 2013, UCO Bank operates through 32 departments:[6]

  • MD's Secretariat
  • ED's Secretariat (1)
  • ED's Secretariat (2)
  • Operations' & Services Department
  • Audit & Inspection
  • Flagship Corporate
  • Mid Corporate
  • Agriculture & Rural Business and Financial Inclusion- includes Small Enterprises, Priority Sector, Regional Rural Bank (RRB) and Financial Inclusion
  • Retail
  • Insurance Marketing Wing
  • Risk Management
  • Human Resource Management
  • Finance
  • General Administration
  • Security
  • Printing & Stationery
  • Credit Monitoring
  • Law
  • Vigilance
  • Personnel Services Department
  • Management Audit & HR Audit
  • Treasury & International Wing (T&IW) which includes Treasury & Investment Management and International Wing
  • IPO Cell
  • Strategic Planning
  • MIS Task Force
  • Rajbhasha (National Language)
  • Corporate Communication
  • Information Technology
  • Recovery
  • Business Process Re-engineering & Business Transaction

Regional management

The governance of the Bank all around the nation's respective regional areas is managed by a network of 42 Zonal Offices present in major as well as crucial parts of the country.[6]


The training of newly recruited as well as present staff is overseen by seven training colleges around India:[7]


The Bank's Regional presence includes 3,078 branches and 2564 ATMs. The near Future will see a growth in the number of ATMs and Branches.[8]

International presence

Besides providing inland banking services through its vast network of branches in India, UCO Bank has a vital presence in the financial markets outside India. UCO Bank presently has four overseas branches in two important international financial centres in Singapore and Hong Kong.[9]

UCO Bank has international presence for over 60 years now.

The Bank’s Singapore Operations commenced from 21 April 1951 with the opening of Singapore Main branch and subsequently Serangoon branch was opened in "Little India" on 7 March 1959. The international linkage from Singapore is supported by a large number of Indian branches network through Integrated Treasury Branch, Mumbai. Other branches in India also provide international banking facilities through Authorised Branches of the bank.

This international network is further augmented by correspondent arrangements with leading Banks at all important world centres in various countries.[10]

Non-banking subsidiaries

The bank has requested the RBI for an approval for new Non-Banking entities under its command. The new entities would ensure a complete market foothold.[11]

Logo and motto

  • The logo of UCO bank consists of a pair of clasped hands covered with an octagonal structure. It has been coloured blue since the organisation's inception, blue representing the Bank's national responsibility. The background has remained yellow since the beginning as well.
  • The motto UCO Bank is "Honours your Trust".[12]
  • The UCO bank Logo has resemblance to logo of leading south african Life Insurance company Sanlam. Sanlam has tie up with Shriram Group in India who provide Insurance to passengers travelling in Indian Railways

Major market competition

UCO Bank's major competitors have always been State Bank of India, Punjab National Bank, Bank of Baroda, HDFC Bank, ICICI Bank, Axis Bank, and Bank of India. The earlier years saw a limited presence of rivals who were mostly public sector entities. In the recent years, the surge of private banks has broadened the spectrum. The liberalisation of the economy may bring foreign banks, which could intensify inter-bank competition for commercial and well-to-do retail customers.[13]

See also

Citations and references


  1. ^ a b c d e f "Annual Report of UCO Bank" (PDF).
  2. ^ "India's Most Trusted Brands 2014". Archived from the original on 2 May 2015.
  3. ^ "India's Most Trusted Brands 2013". Archived from the original on 28 August 2013.
  4. ^ Turnell (2009), p.226.
  5. ^ "OfficialWebsite". ucobank.com. Retrieved 7 March 2016.
  6. ^ a b "Departments". ucobank.com. Retrieved 27 February 2013.
  7. ^ "Names of Training Centres with their Email IDs". ucobank.com. Retrieved 27 February 2013.
  8. ^ "UCO Bank Eyes Gujarat, UP, South". thehindubusinessline.com. Retrieved 27 February 2013.
  9. ^ "UCOBankOfficialWebsite". ucobank.com. Retrieved 28 February 2013.
  10. ^ "OfficialWebsite". ucobank.com. Retrieved 27 February 2013.
  11. ^ "UCO Bank to open its Financial Subsidiary". rupeetimes.com. Retrieved 27 February 2013.
  12. ^ "Slogan of UCO Bank". slogandb.com. Retrieved 27 February 2013.
  13. ^ "Foreign Banks' Entry into India". timesofindia.indiatimes.com. Retrieved 27 February 2013.


  • Turnell, Sean (2009) Fiery Dragons: Banks, Moneylenders and Microfinance in Burma. (NAIS Press). ISBN 9788776940409

External links

Azara, Guwahati

Azara (Assamese: আজাৰা) is a locality in the northwestern part of Guwahati, in Assam in northeastern India. Located about 5 kilometres (3.1 mi) from Guwahati Airport, it is surrounded by Borjhar and Jalukbari localities.

Azara Post Office (Established in the oldest Building of the locality) covers the area up to Chakardow towards the east, Greenland Nursing Home towards the South, Dharapur towards North and Garal-Bhattapara towards the West.

The residential areas of the locality are named as 'Para's, viz. Boripara, Kalitapara, Ganakpara, Maslaguwapara, Gosaipara, Keotpara, Hirapara, Bharalipara, Ojapara, Deoripara, Baruahpara etc. 'Sabhaghar' is the prime platform of the locality for promotion of socio-cultural activities. Several social groups come forward ( due to less involvement of the Government and basically the concerned MLA) for the overall development of the areas through collection of funds with the Mobile Theatre (viz. Kohinoor, Awahan, Hengul, Bhagyadevi, Bordoichila, Rajtilak, Ashirwad, Itihas, Brindaban, Prarthona Shows and by Gift Coupon Games.

The following important offices are situated in the locality:

Azara Sub Post Office (in Boripara), O/O the Circle Officer, Azara Revenue Circle(in Gaon Panchayat Road), O/O the Manager, APDCL, Azara Sub Division (in Gaon Panchayat Road), 33 no. Azara Gaon Panchayat Office (in Gaon Panchayat Road), Veterinary Hospital (in Gaon Panchayat Road), APWD Office (in Gadhuli Bazar), UCO Bank, Rani Branch(in Gadhuli Bazar), Bharat Scouts & Guides (in Bharalipara), Vijaya Bank, Dharapur Branch (in Bharalipara), Azara CHC (in Bharalipara)etc.

Economy of Kolkata

Kolkata is the prime business, commercial and financial hub of eastern India and the main port of communication for the North-East Indian states, It is one of the most important metro cities of India. Recent estimates of Kolkata's economy have ranged from $60 to $150 billion (GDP adjusted for purchasing power parity) making it third most-productive metropolitan area in India, after Mumbai and Delhi. Kolkata is home to India's oldest, and also India's second-largest stock exchange company (bourse) – The Calcutta Stock Exchange. Kolkata is home to a major port, an international airport and many nationally and internationally reputed colleges and institutions aimed at supplying a highly skilled work force. Kolkata is also home to India's and South Asia's first metro railway service – Kolkata Metro.There are a few of the oldest and front line banks and PSUs —such as UCO Bank, Allahabad Bank, United Bank of India and Geological Survey of India, Zoological Survey of India, Botanical Survey of India and Tea Board of India—were founded and is headquartered in Kolkata. The oldest operating photographic studio in the world, Bourne & Shepherd, is also based in the city. The Standard Chartered Bank has a major branch in Kolkata. Kolkata is also the headquarters of Botanical Survey of India and Zoological Survey of India and many more organisations and companies. Moreover, due to the recent efforts of the Government of West Bengal as well as the people of kolkata the economy is looking to rise to even greater heights.

Future Generali India Insurance

Future Generali India Insurance (FGII) Company Limited is a private general insurance company in India. The company is a joint venture between the Future Group and Assicurazioni Generali. It commenced business in September 2007 and achieved break-even in its 6th year of operation. It received an ISO 9001:2008 certification in 2013 and ISO 27001:2013 Certification in 2014. The company has tie ups with many banks including UCO Bank, Bank of Maharashtra, Laxmi Vilas Bank and Nainital Bank The company’s portfolio comprises insurance products categorised within Personal, Commercial & Social/Rural Insurance.

Ganga Nagar, Meerut

Ganga Nagar is a neighborhood in the northeast part of Meerut, Uttar Pradesh. It is surrounded by the defense colony and Meerut cantt to the south, Buxar village to the north and Abdullahpur to the east. Ganga Nagar is approximately 10 km from Meerut City railway station and approximately 5 km from Meerut Cantt railway station. This neighbourhood was named after the Ganges river. It is home to educational institutes such as IIMT University, International Public school and Gargi girls school, while also being close to JP Hotel management college, Forte Institute and Translam Academy. Branches of banks such as State Bank of India, Punjab National Bank, UCO Bank, ICICI Bank and Axis Bank, along with the UP West Regional Office of Airtel and BSNL.

Vishal Megha mart also here

Jakhauli, Sonipat

Jakhauli is a chauhan rajput’s village Sonipat district, Haryana state, India, situated 6 km from Biswamil on National highway-1. There is a branch of UCO Bank and a post office. There is one Government Primary Health Centre Hospital, Veterinary Hospital, Gaushalla, Government Society, BSNL Telephone Exchange, Government Boys Senior Secondary School and Govt girl senior secondary School, Nine aanganvadi Center; One Panchayat Ghar, Hansraj School, Ujjawal School, Jal Ghar, Surya Akhara, Ras-Mangal Dhaam etc.

Lakshman nagar

Lakshman Gagh', also known as chadi in maps and official documents, it is considered as chadi.

It is popular and usually the name is taken as lakshman nagar . It contain a vast area in the marwar region. It has a variety of flora and fauna like desert deer black buck deer and trees and bushes like khejdi and other desert plants.

Some new zamindars were old rajas

MITR ATM Sharing Network

MITR is a multilateral interbank network sharing arrangement of 6 member Banks in India for automated teller machine (ATM)s. It came into existence on 8 October 2003 with 5 member Banks.

The MITR network has six member Banks:

Punjab National Bank (PNB)

Oriental Bank of Commerce (OBC)

Indian Bank

Karur Vysya Bank

IndusInd Bank

UCO BankPNB acts as Settlement Bank for MITR Network. State of art ATM transaction switching technology has been provided by Chennai-based Financial Software Solutions (P) Ltd.


Majigram is a village in Mongalkote CD Block in Katwa subdivision of Purba Bardhaman district in West Bengal, India.


Mayapuri is a locality in West Delhi. It used to be a major hub of small scale industries, but following recent government sanctions, most of the heavy metal industries moved out. The place is now a combination of residential flats (DDA and private), light metal factories and automobile service stations.

The area is mostly residential now, with major localities built by the Delhi Development Authority (DDA). These include Hari Enclave, Vikrant Enclave, MIG Flats and Maya Enclave. There are some major landmarks in this area like the Food Corporation of India, Metal Forging, New Era Public School and Din Dayal Upadhyay Hospital.

Vatika Apartments, MIG Flats, is a DDA Colony that was completed and allotted to owners in 1977. There are approximately 432 flats in this society, with A, B, C, D and E streets. Most of B, C and E street have privately held apartments. D Street belongs to the Government of India and the current tenants are serving officers of the Govt. of India. A Street also has governmental holding in several apartments, and these belong to the Customs and Excise Wing of the GoI. Vatika Apartments is a mid-premium gated locality and has its own Mother Dairy (Milk Supply booth) and a Local Shopping Centre.

Mayapuri is served by three malls of Rajouri Garden - City Square Mall, TDI Mall and West Gate Mall, and by the upmarket Pacific Mall in Tagore Garden/Subhash Nagar. All these malls are within 3–4 km of Mayapuri.

Mayapuri is approximately 15 km from Connaught Place and New Delhi Railway Station, and about 14 km from the Domestic Airport Terminal. It has a Maruti Showroom and workshop, and workshops of Hyundai and Honda as well at a close distance.

Mayapuri is also one of the major bus terminals for the Delhi Transport Corporation (DTC). Delhi Metro's Rajouri Garden and Subhash Nagar stations are close by. The petrol pumps at Beriwala Bagh, Police Station and Subhash Nagar are within easy reach. Several schools are in close proximity as are several banks like UCO Bank, Punjab National Bank, Canara Bank, ICIC Bank, HDFC Bank and many more.

Park Plaza, Iris Hometel and Signature Grand are the three premium hotels in Mayapuri. They are situated in Hari Nagar, but that is just as good as Mayapuri. These are about 1 km from Vatika Apartments, Mayapuri.


Munsirhat is part of the Jagatballavpur bloc in the Howrah Sadar subdivision of the Howrah district in the Indian state of West Bengal.The Bloc Development office is located in Munsirhat.

Paschim Banga Gramin Bank

Paschim Banga Gramin Bank (PBGB) is a premier Regional Rural Bank established on 26 February 2007 in exercise of the powers conferred by Sub-section (1) of Section 23A of the Regional Rural Bank Act, 1976 (21 of 1976). The Bank is established by the amalgamation of Howrah Gramin Bank, Bardhaman Gramin Bank and Mayurakshi Gramin Bank.

This bank is sponsored by UCO Bank & Owned by Govt. of India, Govt. of West Bengal and UCO Bank . The shareholders of the Bank are Govt. of India (50%), UCO Bank (35%) and Govt. of West Bengal (15%). The bank's head office is located at Tikiapara, Howrah,West Bengal.

Tagline of PBGB is "Bank for U - Banking for All"

In the 2013-14 financial year, the bank made a net profit of Rs 20.12 Crore.


Perumanallur is a textile Industrial town situated near Tirupur, Tamil Nadu, India, about 47 kilometres (29 mi) from Coimbatore city on the National Highway (NH 47) which now bypasses outside the town. It is a cross junction in NH-47 connecting Cochin/Coimbatore with Erode/Salem and Tirupur with Gobichettipalayam. Perumanallur is famous for Kondathukali amman, Senguntha Mariyamman, Uthama Lingaswarar and Panjamuga Anjaneyar Temples.

All buses from Tirupur to Kunnathur, Nambiyur, Kanakkampalayam (Bus Nos. 10, 26, 54, 26 and 43) pass through Perumanallur. The place is 11 km from Tirupur and 10 km from Avinashi. Saturday market at Perumanallur attracts peoples from around villages to buy and sell agriculture and other household products.

New Tirupur Industrial Parks (Nethaji Apparel Park), is an integrated industrial park is 4 km away from Perumanallur. Due to these new industries are being started in and around this place which is adding the growth of Perumanallur.

Perumanallur has around 18000 peoples.Banks available: UCO BANK, Canara, TMB, SBI, IOB .


Pethanaicken Palayam is a taluck in salem district in the Indian state of Tamil Nadu. It is a considered a major pilgrimage spot and tourist center. The population of the town as per 2011 census by population of the town 33,678.

Agriculture is the main occupation in Pethanaicken Palayam.

Pethanaicken Palayam is famous for Areca nut and Piper Bettle Farms, Coconut Leaves Weaving, production of Areca Plates and production of Coir Ropes. Rice, Cotton, Turmeric and tapioca are grown as a major commercial crop. The pre-dominate soil in the village is blacksanding.

Transport specialities in Pethanaickenpalayam NH 68 which connects Chennai and Salem with Salem, Coimbatore, Trichy, Erode, Dharmapuri, Bangalore, madurai, Attur and the cities around.

The highway is heavily travelled, so it will be expanded to four lanes in an expansion project taking place between 2008–2010.

Paduvakkadu has three historical temples,Lakshmi Narasimhar temple,Load Vinnayaga temple and Sri Muthumariamman temple and has Sivan kovil ,murugan kovil bank on the vashishta Nadhi.

Largest lake in the Salem district known as "Pana yeri(lake)" in center of pethanaickenpalayam. The temple situated over a mountain in north of this place known as "Koppu Kondan Malai(Mountain)" is a most famous worship centre for people all over the panchayat .

A river known as "Vashishta Nadhi(River)" one of the longest river after Cauvery also flows in this town which create it as a long deltaic region serving its agricultural needs and drinking purposes all over the area.

ATM at the city

1.Uco bank ATM

Salem main road, P.N.Palayam-636109.

2.Indian bank ATM

Salem main road, P.N.Palayam-636109.

3.India 1 ATM

Inside Annam super market,

Attur main road, P.N.Palayam-636109

4.Indi case ATM

Attur main road, P.N.Palayam-636109

Public sector banks in India

Public Sector Banks (PSBs) are a major type of bank in India, where a majority stake (i.e. more than 50%) is held by a government. The shares of these banks are listed on stock exchanges. There are a total of 21 Public Sector Banks alongside 1 state-owned Payments Bank in India.


Sarkaghat is a town, a nagar panchayat and Tehsil in Mandi district in the Indian state of Himachal Pradesh.

Sarkaghat is one of the 5 Urban Local Bodies in Mandi District.The state of Himachal Pradesh is divided into 12 Districts and Mandi is one of the District with its headquarters at Mandi. The Sarkaghat town is located about 60 km away from Distt. Headquarter Mandi. Sarkaghat town is a main business centre of the Mandi District and it covers most of the population of the district.

The Sarkaghat Urban Local Body came into existence in 1981. The Nagar Panchayat Sarkaghat has 7 wards. A new ward Dabrog also including in Nagar Panchayat Sarkaghat recently. The present population of this town is about 6000 and the floating population is about 1 Lacs per month.

This town is rapidly growing and is the main business centre for the Gram Panchayat falling in the radius of 25 km.

A big Government Hospital & PPR Memorial Hospital is the only private hospital located at Sarkaghat.

It is located in Mandi District, Himachal Pradesh. The station is under the control of Himachal Road Transport Corporation (HRTC).

The Sarkaghat town has one Govt. P.G. College, one Govt. Hospital, Senior Secondary School, Mini Secretariat in which the various Govt. Department Office of Sub-Division level function.

Sarkaghat also has a CBSE affiliated school, R K International School which is located near the Nabahi Devi Temple.There are various Government Institution like Sub-Division Office, Tehsil Headquarter, Sub-Divisional Police Office, Sub-Divisional Judicial Courts, I & P H Division Office, H.P.P.W.D Divisional Office, Electrical Division Office, Ayurvedic Hospital, Veterinary Hospital, Excise & Taxation Office, H.R.T.C Division Office, Soil Conversation Office, C.D.P.O Office, BDO Office, Post Office, Telecommunication Centre, Banks (UCO bank, PNB, SBI, HP State Co-Op.Bank). About 30 Govt. and Private Educational / Technical Centres, Hotels, Dhabas & Shops etc.are situated in the town.

Kullu Manali Airport and Joginder Nagar Railway Station are the nearest major access points.

The town has the Sub-tropical climate and characterized by hot summer and cold winter. The temperature various between 10 degree C to 45 degree C with June as the hottest and January as the coldest months. Geologically the Sarkaghat town is located in a seismic zone.


Sarlanagar is a city near Maihar where the employees of Maihar Cement reside. It is named after Smt. Sarla Birla, wife of Shri B.K. Birla, who owns B.K. Birla Group of companies, which owns Maihar Cement.

It is split into three branches:

Staff Colony, where the Maihar Cement staff resides

Workers Colony (Hanthikund Colony), often called Bank Colony due to the branch of UCO Bank opened there

Mines Colony, where the people of the Mines Division reside

Shani Shingnapur

Shani Shingnapur or Shani Shinganapur or Shingnapur or Sonai is a village in the Indian state of Maharashtra. Situated in Nevasa taluka in Ahmednagar district, the village is known for its popular temple of Shani, the Hindu god associated with the planet (graha) Saturn. Shingnapur is 35 km from Ahmednagar city.

Shingnapur is also famous for the fact that no house in the village has doors, only door frames. Despite this, officially no theft was reported in the village although there were reports of theft in 2010 and 2011.The temple is believed to be a "jagrut devasthan" (lit. "alive temple"), meaning that a deity still resides in the temple icon. Villagers believe that god Shani punishes anyone attempting theft. The deity here is "Swayambhu" (Sanskrit: self-evolved deity) that is self emerged from earth in form of black, imposing stone. Though no one knows the exact period, it is believed that the Swayambhu Shanaishwara statue was found by shepherds of the then local hamlet. It is believed to be in existence at least since the start of Kali yuga.

The village has a post office and a high school known as Shri Shanishwar Vidya Mandir besides the primary schools run by the Zilla Parishad. The chief source of water supply in the village is wells.

United Stock Exchange of India

The United Stock Exchange of India (USE) is an Indian stock exchange. It is the 4th pan India exchange launched for trading financial instruments in India. USE represents the commitment of 21 Indian public sector banks, private banks, international banks (Standard Chartered) and corporate houses to build an institution of repute.

Public Sector Banks that are stakeholders of USE include Allahabad Bank, Corporation Bank, Punjab National Bank, Andhra Bank, Dena Bank, State Bank of India, Bank of Baroda, IDBI Bank, Syndicate Bank, Bank of India, Indian Bank, UCO Bank, Bank of Maharashtra, Indian Overseas Bank, Union Bank of India, Canara Bank, Oriental Bank of Commerce, United Bank of India, Central Bank of India, Punjab and Sind Bank, Vijaya Bank.

Private Sector Banks like Axis Bank, Federal Bank, J & K Bank, HDFC Bank and ICICI Bank are also stakeholders in USE. Corporate Institutions such as Riddhi Siddhi Bullions Limited, MMTC and India Potash are also associated with United Stock Exchange.

USE launched its operations on 20 Sept 2010. On the first day of operations, USE cornered 52 percent market share and created a record of highest volumes traded in currency futures in a single day

V. P. Shetty

Vaddarse Prabhankar Shetty, better known as V.P. Shetty, is an Indian banker who is the Chairman of JM Financial Asset Reconstruction Co. Pvt. Ltd., JM Financial Asset Management Co. Pvt. Ltd. and JM Financial Products Ltd. He retired as Chairman and Managing Director of IDBI Bank in 2007. Before joining IDBI, he was also Chairman and Managing Director of UCO Bank and Canara Bank. He began his career with Vijaya Bank. Currently, he is a member of the Banking Codes and Standards Board of India.

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