An idea that germinated during the quit India movement of 1942 was that of having a truly Indian bank. The thinker this time was G.D Birla, a great thought leader and businessman of that era. His vision saw the light of day on 6th of January 1943, when the “The United Commercial Bank Ltd” was started in Calcutta (now Kolkata) under the stewardship of some of the most illustrious names of Indian society.
Come 1969 and the government took over the reins of the bank and nationalized it to create an entity which now changed direction from “class” banking to “mass banking” and gave a thrust to expansion in rural areas. This thrust has resulted in over 1700 branches in 35 regions of the country.
In 1985 the bank’s name was changed to its acronym. United Commercial Bank became UCO Bank and it stays till. The branch has operations in Singapore and Hong Kong too.
The retail loans of the bank are branded with the prefix UCO. UCO cash, UCO Car, UCO shelter are the names of its Personal Loan,Car loan and Housing Loan respectively.
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