On this day The United Commercial Bank, which would later come to be called UCO Bank, was founded in Kolkata.
The idea of the bank was conceived by industrialist G.D. Birla, who wanted to establish a truly Indian bank following the Quit India movement of 1942.
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On January 6, 1943, the bank was founded with its registered and head office at Kolkata. The first board of directors included eminent personalities from India, from many walks of life. It would establish branches in several places in the country and abroad in places such as Singapore and Hong Kong.
It was nationalised by the government of India on July 19, 1969.
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