United Western Bank (UWB) was an Indian bank founded in 1936 that IDBI Bank acquired in 2006 in a rescue.[1] The Reserve Bank of India placed UWB under a moratorium to protect the interest of public and depositors as growing losses eroded its capital.[2]
Annasaheb Chirmule, a leader of the Swadeshi movement, founded Satara Swadeshi Commercial Bank in 1907, and some three decades later founded United Western Bank. The bank was incorporated in 1936, and commenced operations the next year. UWB's head office was in Satara, in Maharashtra State. It became a Scheduled Bank in 1951.
In 1956, UWB acquired Union Bank of Kolhapur, which had been incorporated on 5 July 1949.
In 1961, UWB acquired Satara Swadeshi Commercial Bank.[3] Established on 20 August 1907, this was the first bank established at Satara.
At the time of the merger with IDBI, UWB had some 230 branches spread over 47 districts in 9 states, controlled by five Zonal Offices at Mumbai, Pune, Kolhapur, Jalgaon, and Nagpur. By acquiring UWB, IDBI was able to increase its branch network from 195 to 425 branches.[4][5]
DBS Bank Ltd is a Singaporean multinational banking and financial services corporation headquartered in Marina Bay, Singapore. The company was known as The Development Bank of Singapore Limited, before the present name was adopted on 21 July 2003 to reflect its changing role as a global bank.
Kolhapur is a historic and ancient holy city in Maharashtra, India. Situated on the banks of river Panchganga, Kolhapur is the largest city in Southern Maharashtra. Prior to Indian independence, Kolhapur was a 19 gun salute princely state ruled by the Bhosale Chhatrapati of the Maratha Empire. Kolhapur is Known for its Kolhapuri Chappal and the Establishment of Kolhapur is done by Chhatrapati Shahu Maharaj
Punjab National Bank, abbreviated as PNB, is an Indian government owned bank. It is under the ownership of Ministry of Finance, Government of India headquartered in New Delhi, India. The bank was founded in 1894 and is the second largest government owned bank in India, both in terms of business and its network. The bank has over 180 million customers, 12,248 branches and 13,000+ ATMs post merger with United Bank of India and Oriental Bank of Commerce, effective from 1 April 2020.
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Indian Bank is an Indian government owned financial services and banking company. It is under the ownership of Ministry of Finance, Government of India established in 1907 and headquartered in Chennai, India. It serves over 100 million customers with 20,924 employees, 6,006 branches with 5,428 ATMs and Cash deposit machines and is one of the top performing public sector banks in India. Total business of the bank has touched ₹430,000 crore (US$60 billion) as on 31 March 2019. Bank's Information Systems and Security processes certified with ISO27001:2013 standard and is among very few Banks certified worldwide. It has overseas branches in Colombo and Singapore including a Foreign Currency Banking Unit at Colombo and Jaffna. It has 227 Overseas Correspondent banks in 75 countries. Since 1978, the Government of India has owned the bank. As per the announcement made by the Indian Finance Minister Nirmala Sitharaman on 30 August 2019, Allahabad Bank merged from 1 April 2020, making it the seventh largest bank in the country.
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ICICI Bank Limited is a privately owned Indian development finance institution with its registered office in Vadodara, Gujarat, and corporate office in Mumbai, Maharashtra. It offers a wide range of banking products and financial services for corporate and retail customers through a variety of delivery channels and specialised subsidiaries in the areas of investment banking, life, non-life insurance, venture capital and asset management. The bank has a network of 5,275 branches and 15,589 ATMs across India and has a presence in 17 countries.
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Allahabad Bank was founded in Allahabad in 1865, and is a fully owned subsidiary of Indian Bank with its headquarters in Kolkata, India. India. On 24 April 2014, the bank entered into its 150th year of establishment. Until its merger with the Indian Bank in 2020, Allahabad was the oldest joint stock bank in India.
Industrial Development Bank of India was established in 1964 by an act to provide credit and other financial facilities for the development of the fledgling Indian industry. It is a development finance institution and a subsidiary of Life Insurance Corporation. Many national institutes find their roots in IDBI like SIDBI, India Exim Bank, National Stock Exchange of India and National Securities Depository Limited.
The Shilahara Dynasty was a royal clan that established itself in northern and southern Konkan, present-day Mumbai and southern Maharashtra (Kolhapur) during the Rashtrakuta period.
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United Overseas Bank Limited is a Singaporean multinational investment bank and financial services company headquartered in Raffles Place, Singapore. It was founded in 1935 as United Chinese Bank (UCB) by a group of businessmen led by Wee Kheng Chiang. The bank is the third largest bank in Southeast Asia by total assets after DBS Bank and OCBC Bank, which are also based in Singapore.
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