Union Bank of India: A Complete Guide for Competitive Exams with Accurate Info and GK Questions
Hey friends! If you’re preparing for competitive exams like SSC, UPSC, Banking, Railways, or any other government job, knowing about Union Bank of India (UBI) can give you an edge. It’s one of India’s oldest and largest public sector banks, and its details often pop up in General Knowledge (GK) sections.
In this post, I’ll share detailed, accurate information about Union Bank of India, some key GK questions with answers, to help you ace your prep.
Introduction to Union Bank of India
Union Bank of India (UBI) is a leading public sector bank in India, established on November 11, 1919. Its headquarters are in Mumbai, Maharashtra. The bank was inaugurated by Mahatma Gandhi, which adds to its historical significance. UBI’s tagline, “Good People to Bank With”, reflects its customer-centric approach.
In recent years, UBI merged with Andhra Bank and Corporation Bank (on April 1, 2020), making it the fifth largest public sector bank in India. It offers a wide range of services like retail banking, corporate banking, MSME loans, agricultural finance, and digital banking.
Key Facts About Union Bank of India
- Founded: November 11, 1919
- Headquarters: Mumbai, Maharashtra
- Current MD & CEO: A. Manimekhalai (as of 2025)
- Branches: Over 8,500 branches and 11,000+ ATMs (as of 2025)
- Merger: Andhra Bank and Corporation Bank merged in 2020
- Ownership: Government of India (Public Sector Bank)
- Official Website: https://www.unionbankofindia.co.in
- Key Initiatives: U Genius Quiz (2023), Digital Banking, MSME, and Rural Development Schemes
History of Union Bank
Union Bank was founded in 1919 as “The Union Bank of India Limited” by Indian entrepreneurs and businessmen to promote indigenous banking. It became a public limited company in 1921. In 1969, it was nationalized by the Government of India, turning it into a public sector bank.
Major Milestones
- 1919: Founded and inaugurated by Mahatma Gandhi
- 1969: Nationalization
- 2006: Introduction of digital banking services
- 2020: Merger with Andhra Bank and Corporation Bank
- 2023: Organized U Genius 2023, a national-level general awareness quiz
Services and Features of Union Bank
Union Bank provides a variety of services that make it popular among customers. Here are some key offerings:
- Retail Banking: Savings accounts, current accounts, fixed deposits, and home loans.
- Corporate Banking: Financial solutions for large businesses.
- MSME and Agricultural Finance: Loans for small businesses and farmers.
- Digital Banking: Mobile banking, UPI, and online transactions.
- International Banking: Foreign exchange and trade finance.
UBI has focused heavily on digital transformation, introducing features like the U-Mobile App and UPI-ICCW (Interoperable Card-less Cash Withdrawal) for seamless banking.
GK Questions and Answers for Competitive Exams
Here are some important GK questions and answers about Union Bank that frequently appear in exams like SSC, Banking, UPSC, and others.
Question 1:
When was Union Bank of India established?
Answer: November 11, 1919
Question 2:
Where is the headquarters of Union Bank of India located?
Answer: Mumbai, Maharashtra
Question 3:
What is the tagline of Union Bank of India?
Answer: Good People to Bank With
Question 4:
Who inaugurated Union Bank of India?
Answer: Mahatma Gandhi
Question 5:
Which banks merged with Union Bank of India in 2020?
Answer: Andhra Bank and Corporation Bank
Question 6:
Who is the current MD & CEO of Union Bank of India? (As of 2025)
Answer: A. Manimekhalai
Question 7:
What national-level competition did Union Bank organize in 2023?
Answer: U Genius 2023 – National Level General Awareness Quiz
Question 8:
How many branches does Union Bank of India have? (As of 2025)
Answer: Over 8,500 branches
Question 9:
When was Union Bank of India nationalized?
Answer: 1969
Question 10:
What recent digital feature has Union Bank of India introduced?
Answer: UPI-based Interoperable Card-less Cash Withdrawal (ICCW)
You can jot down these questions in your notebook for quick revision. For more practice, check out the GK quiz section on Jagran Josh.
Recent Updates About Union Bank (As of 2025)
Since Current Affairs are crucial for competitive exams, here are some recent updates about Union Bank:
- LBO Recruitment 2024-25: UBI announced 1,500 vacancies for Local Bank Officers (LBO). The online exam was held from December 4 to 8, 2024, with final results declared on April 15, 2025.
- Digital Initiatives: UBI introduced UPI-based card-less cash withdrawal (ICCW) at ATMs, supported by the Reserve Bank of India.
- NARCL Stake: UBI holds a 13.27% stake in the National Asset Reconstruction Company Limited (NARCL), created to resolve bad loans.
You can read more about these updates on Career Power or Testbook.
Preparation Tips for Competitive Exams
- Focus on Static GK: Memorize facts like UBI’s founding date, headquarters, tagline, and merger details, as they’re commonly asked.
- Stay Updated with Current Affairs: Keep track of recent updates like LBO recruitment, NARCL, and digital initiatives. Check daily current affairs on Examsbook.
- Practice Mock Tests: Solve mock tests for UBI’s LBO and SO exams on Testbook.
- Make Notes: Write down key facts in short notes and revise them daily.
- Previous Year Papers: Download UBI’s previous question papers from Freshersnow.
Why Union Bank of India Matters
Union Bank isn’t just a financial institution; it plays a big role in India’s economic growth. It supports MSMEs, agriculture, and rural development through various schemes. Its digital banking initiatives have made it a leader in modern banking. Competitive exams often test this knowledge because UBI is a key part of India’s banking system.
- Know about this too : Vande Bharat Express Gk Questions and Answer
Conclusion
This post is completely written to help you prepare for your competitive exams. Because this post is based on thorough research and reliable sources. To cross-check facts, visit Union Bank. And If you have more questions or want similar information on any other topic, just let me know! Keep working hard and all the best for your exams!
