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  • DAILY CURRENT AFFAIRS:Union Bank of India launches its first start up branch in Bengaluru

Union Bank of India launches its first start up branch in Bengaluru

Tags: Economy/Finance State News

The government of India owned Public sector Bank, Union Bank of India has opened its first specialised start up branch at Koramangala, Bengaluru, and Karnataka on 30 August 2022.

Koramangala along with neighbouring HSR Layout and Indira Nagar is the Startup hub of Bengaluru city.

Earlier, State Bank of India launched India's first dedicated branch for the startups called ‘SBI Startup Hub’ branch on 16 August 2022.

Union Bank of India 

  • It is a public sector Bank owned by the Government of India.
  • It was set up on 19 November in 1919 in Bombay (now Mumbai).
  • It was nationalized by the Government of India in 1969.
  • Andhra Bank and Corporation bank was merged with Union Bank on 1 April 2020.
  • The bank has 3 overseas branches  at Hong Kong, Dubai (UAE) & Sydney (Australia) and one  representative office in Abu Dhabi (UAE).
  • Headquarters : Mumbai, Maharashtra 
  • MD and CEO: A. Manimekhalai
  • Tagline of the Bank : Good people to Bank with 

Important for Exam 

National Startup Day is observed in India on 16 January.

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