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Union Bank Of India

RBI has allotted IFSC codes to all the bank branches in India to easily identify transactions done through a particular branch. IFSC codes are unique 11-digit codes with alphanumeric characters, which are given to all bank branches and the code won't repeat. It is mandatory to enter IFSC code or MICR code to identify the branches to perform fund or cash transactions. Without this code the bank branches can't transfer funds. These codes help the users to ensure that the transferred funds go to the right person, without any errors.

For example, we can take the IFSC code: "UBIN0538787" of the Union Bank of India branch in Malegaon, Nasik, Maharashtra. This IFSC code can be used for online money transactions via NEFT, RTGS and IMPS to any Union Bank of India account or to other bank accounts.

  • Here, the first four alphabets, UBIN, indicate the bank name, i.e., Union Bank of India.
  • The fifth digit is 0 (zero) - provided for future use.
  • The last six digits 538787 - denotes a particular branch of Malegaon, Nasik, Maharashtra.

The Indian Financial System Code in short denoted as IFSC is used for online payment applications like Real Time Gross Settlement (RTGS), National Electronic Funds Transfer (NEFT), Immediate Payment Service (IPM), from one bank to another through electronic Instant Mobile Money Transfer service (IMPS), and Centralized Funds Management System (CFMS) instructed by RBI.

RBI has allotted IFSC codes for all banks in India to find out the branches when money transfers take place. According to RBI guidelines, the IFSC code is mandatory for interbank transfers via NEFT and RTGS to any bank in India. With help of IFSC codes and MICR codes, the online fund transfers are made easy without any confusion. The first four Characters mentioned in IFSC code denote the bank names and the last six digits helps to identify the bank branch name involved in the transaction. The fifth digit is zero for all banks which is next to alphabets provided for future use. This code helps to avoid the risk factor while sending and receiving funds through banks in our country and it makes sure that the money reaches the right account holder at the specified branch.

Easy way to find Union Bank of India IFSC Code and MICR Code?

If the customer knows the full name of the bank and its branch location, then it is easy to find IFSC codes and MICR codes within a few seconds. The customer can find MICR codes and IFSC codes which are printed on passbook and cheque books/ leaves issued by Union Bank of India.

The website of Reserve Bank of India also offers the entire list of IFSC codes required for the account holder. The customers can also enter on the bank's official website. Some of the third-party financial websites or other advertisement websites are also rendering the service to get IFSC codes of any bank and its branches located in India.

Some of the popular financial comparison sites display the table carrying IFSC codes for Union Bank of India branches throughout India. Any account holder visiting the website can choose the Bank IFSC code link present on the home page. Customers by clicking the link will lead to another page where four columns are displayed. Customers must feed some bank details like the state in which it is located, the district in which it is located and branch name to get IFSC codes or MICR codes for Union Bank of India. The website displays all details about the bank such as the phone number, address of the branch, name, branch code etc.

Union Bank Of India Branch Details

ABOUT UNION BANK OF INDIA

  • Union Bank of India having its headquarters at Mumbai, India was established on 11 November 1919 as a limited company. It is one of the leading public sector banks of the country and implemented 100% core banking solutions. The bank is a listed entity and the Government of India holds 89.07 percent in the bank's total share capital. Today, it has a network of more than 9,500 domestic branches, 13,300 ATMs and 11700 business centre points, serving over 120 million customers with around 75,000 employees.

  • The bank also has three overseas branches at Hong Kong, Dubai International Financial Centre (UAE) & Sydney (Australia); one representative office in Abu Dhabi (UAE); one banking subsidiary at London (UK), one banking joint venture in Malaysia; three para-banking subsidiaries and three joint ventures (including two in life insurance business). Recently, Andhra Bank and Corporation Bank were amalgamated into Union Bank of India with effect from 1 April 2020 with this bank and total business as of 1 April 2020 stood at Rs.15,34,749 crore, comprising Rs.8,68,632 crore of deposits and Rs.6,66,117 crore of advances. The bank has received several awards and recognition for its prowess in technology, digital banking, financial inclusion, MSME and development of human resources.

  • The Bank has authorized share capital of Rs.10,000crore. As on 1st April 2020, the Bank has issued, subscribed and paid-up equity capital of Rs.6406.84 crore, constituting 6,40,68,44,355 crore equity shares of Rs.10/- each. The Bank's shares are listed on the National Stock Exchange of India Limited and the BSE Limited. Union Bank of India's Board members include eminent individuals with a wealth of experience in areas like, economy, rural and agriculture sector, banking and financial services, commerce & accountancy, strategy, Business development, analytics, risk management, central banking, merger & acquisition.
ADDRESS:
Union Bank Bhavan,
239, VidhanBhavan Marg, Nariman Point,
Mumbai - 400 021,
Maharashtra, India.
For further details contact:022-22892000.
Toll Free No: 1800 22 22 44 / 1800 208 2244 / 18004251515.
Charged Numbers: 080-25300175.
Dedicated number for NRI: +918025302510.
Web site: www.unionbankofindia.co.in

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