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Union Bank Of India IFSC Code and MICR Code:

Union Bank Of India state wise list of all branches, IFSC code, MICR code and Addresses within India

Find any Union Bank Of India branch details in India

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Union Bank Of India IFSC Code

About Union Bank of India

Union Bank of India is one of the greatest Government owned banks of India. It is also referred as UBI. It has assets of USD 13.45 billion and also listed in Forbes 2000. Union Banks branches have been networked along its 6420 ATMs and have 4307 branches in 28 states. It has its offices in the overseas destinations such as Abu Dhabi, United Arab Emirates, China as well as also has branch in Hong Kong as well.

UBI Product and Services

UBI offers many product and services to their customers in order to make them banking experience. Here wide range of product and services of UBI are:
Personal Banking:
• Cards - Classic / Silver / Gold, Corporate Credit Cards, Add-On Cards
• Insurance & Investment – mutual fund, union healthcare
• Demat – Demat accounts, online share trading
• Payment
NRI Banking:
• Remittance - Union E-Remit, Nostro Details for Remittance
• Savings & Deposits - NRO Non Resident Ordinary A/c Scheme, NRE Non Resident External Rupee, RFC, FCNR(B), Union Unfixed, Foreign Currency Deposit
• Loan & Services – house loans, foreign currency loans, loans against deposit, immovable property, and shares or debenture
• Payments - Union Bill Pay
Corporate Banking:
• Trade Finance – trade finance for exporters, trade finance for importers, foreign currency loans, correspondent banking
• Insurance - Non life Insurance – Corporate Agency, Insurance- Corporate Agency
• Syndication of Loans
• MSME Banking
• Loans & Policies
• CMS - Union Speed, Union Centralized Debits/Credits, Union Prompt
• E-Tax - Customs and Direct taxes, DGFT, Central Excise and Service Tax
Internet Banking:
• Bills
• Requests
• Mails
• Limits
• Currency
• Uploads

What is IFSC Code?

IFSC (Indian Financial System Code) is an alphanumeric code which specifically identifies a Bank Branch participating in the two main Electronic Funds settlement system in India like Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT). IFSC code is utilized by the NEFT & RTGS to route the messages to the destination branches. IFSC code comprises of 11 characters that identifies bank branches participating in online fund transfers.

IFSC Code for Union Bank

Union Bank IFSC code is utilized by both the RTGS and NEFT systems. Union Bank of India RTGS, NEFT and IMPS codes are provided by RBI. In this bank, RTGS transactions are settled individually and NEFT transactions are settled in branches. IMPS provide the facility to transfer money online 24*7.

How to Find Union Bank IFSC Codes

The table alongside offers the Union Bank IFSC code list. One may use IFSC code finder to search out IFSC code of bank branch for RTGS and NEFT transaction. You can also find IFSC codes of Union Bank in India. Narrow down the search to find out IFSC code of branches either by choosing any particular state from the drop down list or by choosing the state from the table.

Search Union Bank IFSC Codes

You can find out approximately 4307 + IFSC codes of Union Bank of India.

What is MICR Code?

MICR stands for Magnetic Ink Character Recognition. It contains numeric values and usually printed on cheque leaves. It is mainly used for processing cheques easily.

How to Search MICR Code of UBI?

Union Bank MICR code is given in table alongside. Along this information, details such as address as well as contact numbers are also offered. You may narrow down search either by choosing any particular state from the drop down list or by choosing the state from Union Bank MICR codes list given on the right side. One may find MICR Codes of Union Bank branches here.

Other Popular Banks IFSC Code

Union Bank Of India IFSC Code News:

S&P Global assigns lower rating to Union Bank on deteriorating Asset Quality

S&P which is an international agency which publish research and analysis on stocks, on 12th August reduced its issue credit rating (long-term) on UBI to “BB+” from “BBB-“, quoting weaker asset quality, however maintained a steady vision on the state banks. S&P also lowered the short term issue credit rating on UBI to “B” from “A-3” because of the deteriorating asset quality. Nikita Anand, a rating credit analyst at S&P Global stated, the agency has lowered Union Bank ratings as they anticipate that the bank asset quality will continue to be weak in the coming 12 months, as the asset quality deteriorated in the last few quarters. So in accordance with the analysis the agency has reduced UBIs standalone credit grade from “BB+” to “BB”. S&P, nevertheless reported that the government is surely going to help and continuously provide required back-up to the bank. The agency prediction of getting tremendous support from the government is based on the relationship the bank has with the government as well as the prime role that the banks play. Therefore the grading is one point higher compared to banks standalone credit rating. The assigned rating highlighted that it predicts Union Banks worth to continue to be moderate in the coming 12 months, primarily because of increased credit worth.

2016/08/15 09:43 PM

HOLD recommendation for UBI by Reliance Securities: estimated target price Rs.144

Reliance Securities has recommended hold option for Union Bank of India. The target price predicted is Rs. 144.0 as opposed to present market value of Rs. 129.75. The analyst anticipates that within a year target price will be achieved. The ratio of stressed asset is predicted to linger along with lofty credit values for coming five-six quarters. This will result in UBI’s Return on Assets down at approximately 0.3%-0.4% and Return on Equity shares approximately at 6%-7% over financial year 2017-2018. Union Bank of India total stressed assets amount to 15% of loan file. Going on, UBI’s provision coverage ratio- removing bad debts written off amounting to 42%, which is far away from the ease level, which will slow down the Bank’s gain because of increased credit value, in accordance with the Reliance securities view. According to the statement given by brokerage enhancement in functioning work performance, as reliance securities careful on asset quality review, assigned HOLD call on the share from REDUCE option because of the new target price Rs.144, valuing the stock at 0.7x FY18E Adj. Book Value.

2016/08/11 11:07 AM

Pritesh Mehta says one should sell Union Bank of India shares with a target price of Rs. 120

With a target price of Rs 120 Mr. Pritesh Mehta of IIFL has said one should sell Bank of India shares. According to an analyst union bank of India can attain its target price within a day. The market price at present is Rs. 141.6. Mr. Pritesh Mehta also said that the stop loss should be Rs. 140.

2016/07/19 03:37 AM

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