United Bank of India (UBI) has been an integral component of India's banking history since its inception in 1950 via the amalgamation of four Bengal-based banks. Located in Kolkata, UBI achieved several milestones until its merger with Punjab National Bank in 2020, forming a significant part of India's extensive banking conglomerates.

UBI originated amidst a backdrop of financial instability among smaller banks. The foundational banks were Comilla Banking Corporation, Bengal Central Bank, Comilla Union Bank, and Hooghly Bank. This union laid a robust groundwork to satisfy India's burgeoning banking demands, showcasing resilience and calculated growth strategies.

Throughout its operational tenure, United Bank of India predominantly served Eastern India, extending its reach nationwide. The 1969 nationalization aimed to safeguard the financial sector and promote credit accessibility to agriculture, small industries, and export enterprises. This strategic step empowered UBI to significantly influence India's economic policies and rural advancement.

The 1970s and 1980s saw UBI's growth through the acquisition of smaller banks like Hindustan Mercantile Bank and Narang Bank of India, further solidifying its stature in the banking sector. With the evolution of technology, UBI introduced online and mobile banking services along with the United wallet and UPI Bhim app to meet evolving customer demands.

Despite its successes, the bank encountered challenges with non-performing assets (NPAs), which led to critical steps for financial improvement and regulatory scrutiny. A Deloitte forensic audit in 2014 exposed deficiencies in NPA detection, mirroring broader issues within Indian banks.

In a pivotal 2019 decision by Finance Minister Nirmala Sitharaman, UBI merged with Punjab National Bank and Oriental Bank of Commerce, establishing as of April 1, 2020, India's second-largest public sector bank. This merger initiated a new epoch, focused on creating a stronger, more competitive banking entity.

This consolidation initiative aimed at refining the banking sector, improving efficiency, cutting costs, and maximizing economies of scale. The merger sought to utilize the pooled strengths of the involved bodies to adeptly meet national economic necessities and elevate global competitiveness.

United Bank of India has been a witness to and contributor towards India's economic evolution, constantly adapting to challenges and making use of opportunities. Its legacy thrives under Punjab National Bank, perpetuating a tradition marked by trust, commitment to financial inclusion, and national service engagement.