UCO Full Form: Know All About UCO Here!
By BYJU'S Exam Prep
Updated on: September 25th, 2023
UCO Full Form: Many individuals ponder over the question: what is the full form of UCO? While studying for banking examinations. The full form of UCO is United Commercial Bank Limited. UCO Bank is a commercial bank and a Government of India undertaking that was established in 1943. Its Board of Directors consists of officials from the Indian government and the Reserve Bank of India and notable professionals such as accountants, management specialists, economists, and businessmen.
After going through periods of expansion and consolidation, UCO Bank was nationalised on July 19, 1969, and taken 100% ownership by the Government of India. This historic event ushered in a sea of change in the bank’s overall philosophy and operations, in line with the government’s socio-political strategy of mass banking instead of the previously practised class banking.
Table of content
The bank’s name was changed to UCO Bank by an Act of Parliament in 1985, which marked a new chapter for the bank. Even with the name change, the bank’s customer-friendly and socially committed character survived, and it has since become one of the country’s most well-known and vibrant financial institutions. UCO Bank has come a long way to symbolise client-friendliness and banking efficiency with all of its inner strengths.
Organisational Structure Of UCO
On November 2, 2018, Shri Atul Kumar Goel took over as the Managing Director and CEO of UCO Bank. He was the Executive Director at Union Bank of India before being promoted to MD & CEO of UCO Bank.
|
Name |
Designation |
|
Atul Kumar Goel |
Managing Director and CEO |
|
Ajay Vyas |
Executive Director |
|
Ishraq Ali Khan |
Executive Director |
|
K Rajivan Nair |
Director |
|
N Purna Chandra Rao |
Company Secretary |
|
Ram Kumar |
General Manager |
|
Sanjay Kumar |
Director |
|
Shashi Kant Kumar |
Chief Financial Officer |
|
Tuli Roy |
Director |
Headquarters of UCO
Mr G.D Birla, the leading light of the Indian industrial renaissance, conceived a true Indian bank after the momentous Quit India campaign in 1942. Soon after, this became a reality, and The United Commercial Bank Ltd., with its registered and head office in Kolkata, was established on January 6, 1943.
The bank’s first Board of Directors included distinguished citizens from all layers of society. The bank’s all-India composition has been meticulously preserved to this day, not only in the profile of its board but also in the geographical spread of its 3,000+ employees across the country and its overseas centres in Singapore and Hong Kong.
Products And Functions of UCO
In India and abroad, UCO Bank maintains a network of approximately 3,000 service locations. Customers’ financial and banking needs are met through the bank’s services, including deposit accounts, loans, credit cards, and debit cards. Its deposit account and loan options include savings accounts, current accounts, housing loans, personal loans, school loans, and loans against property, to name a few. Fixed deposits, recurring deposits, credit cards, and debit cards are among the bank’s investment and card services.
Users can receive SMS alerts on their mobile phones for any transactions in their accounts through UCO Bank’s SMS Banking service. With UCO mobile banking, customers may access their bank accounts and execute all major transactions using their mobile phones. UCO net banking allows customers to check account balances, make payments, pay bills online, recharge mobile phones, and much more. Account-holders can also call the UCO customer service number for immediate assistance with their problems and complaints and find answers to their questions.
Vacancies in UCO
Candidates can visit the UCO Careers website to discover more about the financial organisation, what it’s like to work there, and how to apply for open positions.
UCO Full Form, UCO History, UCO Functions, and UCO Vacancies have been discussed. We hope you found this article helpful. Please contact us if you have any questions, and we would be pleased to assist you.
We hope this information was useful to you. Like the full form of UCO, you can learn from others our articles. This would be extremely beneficial for a banking exam.
Also, Check:
- IVB Full Form
- APGVB Full Form
- IIFL Full Form
- KVB Full Form
- CIBIL Full Form
- HSBC Full Form
- LIC Full Form
- CUB Full Form
| Related Links | |
