United Industrial Bank
United Industrial Bank(UIB) was founded inCalcuttain 1940 by Jadunath Ray. In 1989Allahabad Bankacquired it in a rescue.
In 1963 UIB acquired two banks. One was thePrabartak Bank,which thePrabartak Sanghamovement had founded in Calcutta on 17 September 1929 as the Prabartak Bank and Insurance Company. At one point Prabartak Bank had a branch inChittagong.The other was theBank of Bankura,which had been established in Calcutta on 8 June 1936.
In 1964 United Industrial Bank acquired two more banks:Metropolitan Bankon 6 February, andSouthern Bankon 24 August. Both Southern and Metropolitan Bank had been established in Calcutta, Southern on 10 October 1934, and Metropolitan on 16 October 1936.
In 1965 the Government of East Pakistan took over UIB's branch in East Pakistan.
At the time of its merger into Allahabad Bank, United Industrial had 145 branches.
References
[edit]- Reserve Bank of India.Statistical Tables Relating to Banks in India for the Year 1954.(Bombay).
