United Bank of India (UBI), a significant name in India's banking history, was established in 1950 through the merger of four Bengal-based banks. Situated in Kolkata, this institution marked key milestones before merging with Punjab National Bank in 2020, thus becoming a part of one of India's largest banking conglomerates.

UBI's origins trace back to a period of financial instability among smaller banks. The banks involved in its formation were Comilla Banking Corporation, Bengal Central Bank, Comilla Union Bank, and Hooghly Bank. The fusion of these entities created a strong foundation ready to meet India's increasing banking demands, marking a journey marked by resilience and strategic growth.

Throughout its operational years, United Bank of India primarily catered to Eastern India, while expanding its presence nationwide. The government nationalized it in 1969 as part of an effort to protect the financial sector and facilitate credit to agriculture, small industries, and export businesses. This move allowed UBI to play a pivotal role in India's economic strategies and rural development.

UBI's operations further expanded in the 1970s and 1980s with the acquisitions of smaller banks like Hindustan Mercantile Bank and Narang Bank of India, enhancing its influence and standing in the banking industry. The bank also embraced the digital era by launching online and mobile banking services and products like the United wallet and UPI Bhim app to address changing customer preferences.

The bank faced challenges with non-performing assets (NPAs), prompting critical measures to improve financial health under regulatory oversight. A Deloitte forensic audit in 2014 highlighted flaws in NPA detection, reflecting broader issues affecting Indian banks.

In a landmark decision by Finance Minister Nirmala Sitharaman in 2019, UBI merged with Punjab National Bank and Oriental Bank of Commerce, forming the second-largest public sector bank in India as of April 1, 2020. This merger marked a new era, aimed at developing a more resilient and competitive banking entity.

This consolidation strategy aimed to streamline the banking sector, enhance efficiency, reduce costs, and harness economies of scale. The merger sought to leverage the combined strengths of the entities involved to better meet national economic needs and compete globally.

United Bank of India, throughout its existence, bore witness to and contributed to India's economic progress, adapting to challenges and opportunities. Its legacy endures under Punjab National Bank, continuing a tradition of trust and dedication to financial inclusion and national service.