50-650: UCO Bank , formerly United Commercial Bank , is an Indian public sector bank , and financial services government owned body headquartered in Kolkata . It is a medium sized public sector bank in India and ranked 1948 in Forbes Global 2000 list of year 2018 & ranked 80 on the Fortune India 500 list in 2020. During FY 2023–24, its total business was ₹ 4.50 lakh crore. The market capitalisation of bank
100-678: A commercial bank with Indian capital and management, and the United Commercial Bank Limited was incorporated to give shape to that idea. The bank was started with Kolkata as its head office with an issued capital of ₹ 2 crores, of which ₹ 1 crore was actually paid up. Birla was its chairman; the Board of Directors included eminent personalities of India drawn from many fields. The bank opened 14 branches simultaneously across India. After World War II, United Commercial Bank opened several overseas branches. The first, in 1947,
150-534: A citizen of India and must be 25 years of age or older, mentally sound, should not be bankrupt, and should not be criminally convicted. The total elective membership is distributed among the states in such a way that the ratio between the number of seats allotted to each state and the population of the state is, so far as practicable, the same for all states. Out of 543 seats of Lok Sabha , 84 seats are reserved for Scheduled castes and 47 seats are reserved for Scheduled tribe . The Rajya Sabha (Council of States) or
200-616: A new joint-venture bank incorporated in Malaysia, United Asian Bank with each of the three parent banks owning a third of the shares. At the time, Indian Bank had three branches, and Indian Overseas Bank and United Commercial Bank had eight between them. To keep pace with the developing scenario and expansion of business, the Bank undertook an exercise in organisational restructuring in the year 1972. This resulted in more functional specialisation, decentralisation of administration and emphasis on
250-506: A non-governmental organisation in West Bengal, and calls himself a teacher on his Instagram profile. The Delhi police told the court that it was a well-planned conspiracy, and that the accused might also be associated with terrorist organisations. While the police have not officially revealed a motive, both media reports and statements from the families of the accused suggest that the protesters sought to articulate their frustration with
300-470: A peacock theme, while the Rajya Sabha hall is designed with a lotus theme, reflecting India's national flower. Additionally, a state-of-the-art Constitutional Hall symbolically and physically places Indian citizens at the heart of democracy. Prime Minister Narendra Modi laid the foundations for the new Parliament building on 10 December 2020. With an estimated cost of ₹ 9.71 billion, the new building
350-680: A sanctioned strength of 552 in the Lok Sabha and 250 in the Rajya Sabha including 12 nominees from the expertise of different fields of literature, art, science, and social service. The Parliament meets at Sansad Bhavan in New Delhi . The Parliament of India represents the largest democratic electorate in the world (the second being the European Parliament ), with an electorate of 912 million eligible voters in 2019. On 28 May 2023, Prime Minister Narendra Modi, unveiled and inaugurated
400-544: A thorough investigation. He also highlighted the timing, coinciding with the 22nd anniversary of the 2001 Indian Parliament attack . Day after the security breach, Trinamool MP Derek O'Brien of the Rajya Sabha and 13 MPs of Lok Sabha from the Congress and the Dravida Munnetra Kazhagam parties, were suspended until 22 December for protesting by bringing placards and hindering the proceedings of
450-620: A voluntary transfer of its assets and liabilities to United Commercial Bank. JBTC had only one office and specialised in lending against mortgages on tea gardens. The Government of India nationalised United Commercial Bank on 19 July 1969. The nationalised bank continued the operations of the overseas branches in London, Singapore, and Hong Kong. However, Malaysian law forbade foreign government ownership of banks in Malaysia. Therefore, United Commercial Bank (UCO Bank), Indian Overseas Bank , and Indian Bank contributed their operations in Malaysia to
500-514: Is ₹ 71,078 crore (2024). UCO Bank's headquarter is in BTM Sarani, Kolkata which is making it the only Government of India owned bank in the east India . As of 31 March 2024 the bank had 4,000 plus service units & 43 zonal offices spread all over India . It also has two overseas branches in Singapore and Hong Kong . UCO bank is one of the special bank which facilitates
550-479: Is directly or indirectly associated, and studies are conducted to help committees arrive at the conclusions. Parliamentary committees are of two kinds: standing committees and ad hoc committees. Standing committees are permanent committees constituted from time to time in pursuance of the provisions of an act of Parliament or rules of procedure and conduct of business in Parliament. The work of these committees
SECTION 10
#1732790516370600-579: Is held by the Ministry of Finance (India) of the Government of India or State Ministry of Finance of various State Governments of India . The shares of these government-owned-banks are listed on stock exchanges. Their main objective is social welfare. The Central Government entered the banking business with the nationalization of the Imperial Bank of India in 1955. A 60% stake was taken by
650-623: Is of a continuing nature. Ad hoc committees are appointed for a specific purpose, and they cease to exist when they finish the task assigned to them and submit a report. Parliamentary privileges play a crucial role in safeguarding the functioning of the Indian Parliament and upholding its authority as the primary legislative body in the country. These privileges grant certain rights and immunize Members of Parliament, enabling them to perform their duties effectively, express their views freely, and ensure democratic accountability. To uphold
700-664: Is supported by a large number of Indian branches network through the Integrated Treasury Branch, Mumbai. Other branches in India also provide international banking facilities through Authorised Branches of the bank. This international network is further augmented by correspondent arrangements with leading Banks at all important world centres in various countries. On 15 September 1967, Jalpaiguri Banking and Trading Corporation (JBTC) which had been established in Jalpaiguri in 1887 (or 1889; accounts differ), made
750-468: Is the four-storied circular structure providing office spaces for ministers, chairmen, parliamentary committees, party offices, important offices of the Lok Sabha and Rajya Sabha Secretariat, and also the offices of the Ministry of Parliamentary Affairs. The Central Hall is circular in shape and the dome is 30 metres (98 ft) in diameter. It is a place of historical importance. The Indian Constitution
800-544: Is the subsidiary of UCO Bank with 35% stake. The bank has requested the RBI for an approval for new Non-Banking entities under its command. The new entities would ensure a complete market foothold. Citations References Public sector banks in India Public Sector Undertakings (Banks) are a major type of government-owned banks in India, where a majority stake (i.e., more than 50%)
850-634: Is the supreme legislative body of the Republic of India . It is a bicameral legislature composed of the Rajya Sabha (Council of States) and the Lok Sabha (House of the People). The president of India , in their role as head of the legislature, has full powers to summon and prorogue either house of Parliament or to dissolve the Lok Sabha, but they can exercise these powers only upon the advice of
900-552: Is thought to suffer from structural issues. The building also needs to be protected because of its heritage tag. The new building, with a built-up area of approximately 65,000 sq m and a distinctive triangular shape, optimally utilizes space. It houses an expanded Lok Sabha Hall, accommodating up to 888 seats, and a larger Rajya Sabha hall, accommodating up to 384 seats, with the Lok Sabha capable of accommodating up to 1,272 seats for joint sessions of Parliament. The Lok Sabha Hall draws inspiration from India's national bird, incorporating
950-460: The 2001-02 India–Pakistan standoff . On 13 December 2023, two protestors breached the new premises of parliament and entered the Lok Sabha section. The security breach was organized by six protestors. Two of the accused, Sagar Sharma and D Manoranjan, jumped into the chamber from the visitor's gallery, and opened a yellow smoke canister, in an attempt to reach the Speaker's Chair. While outside
1000-684: The Central Legislative Assembly , the Council of State , and the Chamber of Princes . The construction of the building took six years, and the opening ceremony was performed on 18 January 1927 by the viceroy and governor-general of India , Lord Irwin . The construction cost for the building was ₹ 8.3 million (US$ 99,000). The building is 21 metres (70 ft) tall, 170 metres (560 ft) in diameter and covers an area of 2.29 hectares (5.66 acres). The Central Hall consists of
1050-769: The New Parliament Building , located adjacent to the previous one. During British rule , the legislative branch of India was the Imperial Legislative Council , which was created in 1861 via the Indian Councils Act of 1861 and disbanded in 1947, when India gained independence. Following independence, the Constituent Assembly of India was elected to write the Constitution of India . In 1950 after
SECTION 20
#17327905163701100-643: The Reserve Bank of India and the new bank was named State Bank of India . The seven other state banks became subsidiaries of the new bank in 1959 when the State Bank of India (Subsidiary Banks) Act, 1959 was passed by the Union government . The next major government intervention in banking took place on 19 July 1969 when the Indira government nationalised an additional 14 major banks. The total deposits in
1150-553: The Upper House is a permanent body not subject to dissolution. One-third of the members retire every second year and are replaced by newly elected members. Each member is elected for a term of six years. Its members are indirectly elected by elected members of legislative assembly of the states. The Rajya Sabha can have a maximum of 250 members. It currently has a sanctioned strength of 245 members, of which 233 are elected from states, and union territories and 12 are nominated by
1200-553: The prime minister and the Union Council of Ministers . Those elected or nominated (by the president) to either house of the Parliament are referred to as members of Parliament (MPs). The members of parliament in the Lok Sabha are directly elected by the voting of Indian citizens in single-member districts and the members of parliament in the Rajya Sabha are elected by the members of all state legislative assemblies by proportional representation . The Parliament has
1250-475: The 104th Constitutional Amendment Act, 2019. Every citizen of India who is over 18 years of age, irrespective of gender, caste, religion, or race and is otherwise not disqualified, is eligible to vote for members of the Lok Sabha. The constitution provides that the maximum strength of the Lower House be 550 members. It has a term of five years. To be eligible for membership in the Lok Sabha, a person must be
1300-602: The Bank stood at Rs. 4,50,007 crore as compared to Rs. 4,10,967 crore showing an increase of 9.50% over March 2023. The Bank's Regional presence includes 3,230 branches excluding 2 Foreign branches and 2,564 ATMs as in March 2024. The domestic branches include 6 Flagship corporate branches, 7 Asset Management branches, 4 service branches, 1 central pension processing center and 1 integrated treasury branch. Further 25 MCU branches, 39 Retail loan Hubs, 28 Agriculture Loan Hubs, 21 SME Hub and 72 currency chests are also functioning across
1350-460: The House meets to conduct its business is called a session. The constitution empowers the president to summon each house at such intervals that there should not be more than a six-month gap between the two sessions. Hence the Parliament must meet at least twice a year. In India, the Parliament conducts three sessions each year. Legislative proposals are brought before either house of the Parliament in
1400-583: The People) or the lower house has 543 members . Members are directly elected by citizens of India on the basis of universal adult franchise representing parliamentary constituencies across the country. Between 1952 and 2020, two additional members of the Anglo-Indian community were also nominated by the president of India on the advice of the Indian government , which was abolished in January 2020 by
1450-489: The UCO Bank Board of Directors has nine members: The governance of the Bank all around the nation's respective regional areas is managed by a network of 43 Zonal Offices. These are present in major as well as crucial parts of the country. The training of newly recruited as well as present staff is overseen by seven training colleges around India : Paschim Banga Gramin Bank a Regional Rural Bank of West Bengal
1500-438: The banks nationalised in 1969 amounted to 50 crores. This move increased the presence of nationalised banks in India, with 84% of the total branches coming under government control. The share of the bank sector held by the public banks continued to grow through the 1980s, and by 1991 public sector banks accounted for 90% of the banking sector. A year later, in March, 1992, the combined total of branches held by public sector banks
1550-605: The chambers of the Lok Sabha, the Rajya Sabha, and the library hall. Surrounding these three chambers is the four-storied circular structure providing accommodations for members and houses parliamentary committees , offices and the Ministry of Parliamentary Affairs . The center and the focus of the building is the Central Hall. It consists of chambers of the Lok Sabha, the Rajya Sabha, and the Library Hall, and between them lie garden courts. Surrounding these three chambers
UCO Bank - Misplaced Pages Continue
1600-583: The constitution came into force, the Constituent Assembly of India was disbanded, and succeeded by the Parliament of India, which is active to this day. The Old Parliament House ( Samvidhan Sadan ) is located in New Delhi . It was designed by Edwin Lutyens and Herbert Baker , who were made responsible for the planning and construction of New Delhi by the British government, as the home of
1650-422: The constitution, the president's responsibility is to ensure that laws passed by the Parliament are in accordance with the constitutional mandate and that the stipulated procedure is followed before indicating approval to the bills. The president of India is elected by the elected members of the Parliament of India and the state legislative Assembly and serves for a term of five years. The Lok Sabha (House of
1700-455: The country attached to the major city branches of various centres. Besides providing inland banking services through its vast network of branches in India, UCO Bank has a vital presence in the financial markets outside India. UCO Bank presently has 2 overseas branches (one each in Singapore and HongKong ) and 1 representative office has been established in Tehran , Iran . As of August 2023,
1750-703: The decade, with a ₹16856 crore profit in 2008–2009. The consolidation of SBI-associated banks started first by State Bank of India merging its subsidiary State Bank of Saurashtra with itself on 13 August 2008. Thereafter it merged State Bank of Indore with itself on August 27, 2010. The remaining subsidiaries, namely the State Bank of Bikaner & Jaipur , State Bank of Hyderabad , State Bank of Mysore , State Bank of Patiala and State Bank of Travancore , and Bharatiya Mahila Bank were merged with State Bank of India with effect from 1 April 2017. On 30 August 2019, Minister of Finance Nirmala Sitharaman announced
1800-585: The development of personnel skills and attitudes. Side by side, whole-hearted commitment to the government's poverty alleviation programmes continued and the convenorship of the State Level Bankers' Committee (SLBC) was entrusted to the Bank for Odisha and Himachal Pradesh in 1983. An act of parliament changed the bank's name to UCO Bank in 1985, as a bank in Bangladesh existed with the name United Commercial Bank PLC , which caused confusion in
1850-430: The form of a bill. A bill is the draft of a legislative proposal, which, when passed by both houses of Parliament and assented to by the president, becomes an act of Parliament . Money bills must originate in the Lok Sabha. The Rajya Sabha can only make recommendations over the bills to the House, within a period of fourteen days. Parliamentary committees are formed to deliberate specific matters at length. The public
1900-1092: The government's plan for further consolidation of public sector banks. The mergers took effect from 1 April 2020. Currently there are 12 Nationalised Banks in India (Government Shareholding power is denoted in %, as of 30 September 2024 ): Presently there are 43 Regional Rural Banks in India Since 1 April 2020. Andhra Pradesh Arunachal Pradesh Assam Bihar Chhattisgarh Gujarat Haryana Himachal Pradesh Jammu and Kashmir Jharkhand Karnataka Kerala Madhya Pradesh Maharashtra Manipur Meghalaya Mizoram Nagaland Odisha Puducherry Punjab Rajasthan Tamil Nadu Telangana Tripura Uttar Pradesh Uttarakhand West Bengal Parliament of India 28°37′2″N 77°12′29″E / 28.61722°N 77.20806°E / 28.61722; 77.20806 The Parliament of India or Indian Parliament , ( ISO : Bhāratīya Saṁsad )
1950-417: The government's policies. Rashtriya Loktantrik Party founder Hanuman Beniwal along with some MPs caught and overpowered the intruder and became ‘hero’ or ‘saviour’ of the Parliament. Beniwal told the media soon after - " Herogiri unki utar di, [ trans . taught them a lesson]”. Beniwal soon after incident questioned BJP government on national security and called it a ‘big security lapse’ and demanded
2000-431: The international banking arena. In 1991, Bank of Commerce acquired United Asian Bank; in time CIMB came to own Bank of Commerce. In 1998, UCO closed its London branch. Bank of Baroda acquired the assets and liabilities, but not the personnel, who were made redundant. As on 31 March 2024, government share-holding in the bank was 95.39%. For FY 2023–24, it registered ₹1,653.74 crore net profit with global business of
2050-591: The mechanism of Rupee-Rial and Rupee-Ruble trade of India between Iran & Russia respectively. It become the first bank to open a unique "lockless" branch in Shani Shinganapur in Maharashtra to show the respect to general belief and faith of the people on lord Shani . G. D. Birla , an eminent Indian industrialist, during the Quit India movement of 1942 , conceived the idea of organising
UCO Bank - Misplaced Pages Continue
2100-486: The parliament by demanding answers regarding the security breach and the home minister's statement. A week after the breach, 78 more MPs were suspended, most of them part of the INDIA alliance, after protesting the security breach. [REDACTED] This article incorporates text from New Parliament Building for Realizing People's Aspirations , which is a copyrighted work of the Government of India , licensed under
2150-488: The parliament, two others, Neelam Devi and Amol Shinde, allegedly opened an aerosol canister, releasing a colored smoke. The sixth individual, Vishal Sharma, was caught meters away from the parliament after filming and uploading the video of the protest outside Parliament to the social media platforms. The alleged leader of the protestors was Lalit Jha, who is affiliated with the Samyabadi Subhas Sabha,
2200-414: The president. The number of members from a state depends on its population. The minimum age for a person to become a member of the Rajya Sabha is 30 years. There are no caste-based reservations in Rajya Sabha. As the primary institution responsible for lawmaking, the Indian Parliament possesses a wide array of powers that form the backbone of the country's democratic governance. The period during which
2250-472: The principles of transparency, accountability, and ethical conduct, the Indian Parliament focuses on some of the key behavioral aspects for parliamentarians. In 2022, the Lok Sabha secretariat released a booklet listing out unparliamentary words and expressions before the start of the Monsoon session on 18 July 2022. The banned words if used during debates or otherwise in both the houses would be expunged from
2300-463: The records of the parliament. On 13 December 2001, the Indian Parliament was attacked by an Islamic terrorist group. The perpetrators were Lashkar-e-Taiba (Let) and Jaish-e-Mohammed (JeM) terrorists. The attack led to the deaths of five terrorists, six Delhi Police personnel, two Parliament Security Services personnel, and a gardener, which totaled 14 fatalities. The incident led to increased tensions between India and Pakistan , resulting in
2350-409: Was 60,646 across India, and deposits accounted for ₹1,10,000 crore. The majority of these banks was profitable, with only one out of the 21 public sector banks reporting a loss. The nationalised banks reported a combined loss of ₹1160 crores. However, the early 2000s saw a reversal of this trend, such that in 2002-03 a profit of ₹7780 crores by the public sector banks: a trend that continued throughout
2400-545: Was framed in the Central Hall. The Central Hall was originally used in the library of the erstwhile Central Legislative Assembly and the Council of States. In 1946, it was converted and refurbished into the Constituent Assembly Hall. A new parliament building was inaugurated on 28 May 2023. The old building, an 85-year-old structure suffers from inadequacy of space to house members and their staff and
2450-700: Was in Rangoon . Branches in Singapore (1951), Hong Kong (March 1952), London (1953), and Malaysia followed. In 1963 the Burmese government nationalized United Commercial Bank's three branches there, which became People's Bank No. 6. The Bank's Singapore Operations commenced on 21 April 1951 with the opening of the Singapore Main branch and subsequently Serangoon branch was opened in " Little India " on 7 March 1959. The international linkage from Singapore
2500-527: Was inaugurated in 2023. The first session in the New Parliament took place on 19 September 2023. The Indian Parliament consists of two houses, namely, the Lok Sabha and the Rajya Sabha , with the president of India acting as their head. The President of India, the head of state , is a component of Parliament vide Article 79 of the Constitution. Under Article 60 and Article 111 of
#369630