The ancient city of Gaya in the Indian state of Bihar has great historical and mythological significance. It is located on the banks of the Phalgu River and is considered to be a place sanctified by the Hindu, Jain and Buddhist religions. Gaya is surrounded by small rocky hills on three sides and the river on the fourth side. The city displays a harmonious mix of natural surroundings, ancient buildings, greenery and narrow by-lanes. Gaya has been mentioned in the great Hindu epics of Ramayana and Mahabharata. Rama, Sita and Lakshmana had visited Gaya to offer "pind-daan" after their father Dasharaths death. The place appears as Gayapuri in the Mahabharata. Gaya has many household industries like incense sticks, stone crafting, power looms as well as local sweets like tilkut and lai. There are some small-scale manufacturing industries for packaging, plastic products, scrap and handlooms. Gaya is an important center for religious tourism. Hence, there are numerous affordable Hotels and other accommodations which contribute to the citys economy. Gaya boasts of a bright educational history. Pristine institutions such as the Magadh University, the Gaya College, the Gaya Engineering College support the education of the youth. A branch of the Indian Institute of Management (IIM) Bodhgaya has also been recently established in Gaya.
The government owns 63.44% of the share capital of Union Bank of India making it one of the largest government-owned bank. As on 30 September 2015, the Union Bank had a network of 6909 ATMs. The online telebanking facility of UBI is available to all the Core Banking Customers, either individual or corporate. UBI had 4214 branches, as of September 2016. Out of them, four bank branches are outside India in Hong Kong, Antwerp, and Sydney (Australia) Dubai International Financial Centre. The representative offices of UBI are at Abu Dhabi, Shanghai, Beijing. The Union Bank of India (Union Bank) was registered as a limited company in Mumbai on 11 November 1919, and Mahatma Gandhi inaugrated it. The Union Bank of India had only four branches - three in Mumbai and one in Saurashtra at the time of Independence in 1947. After Independence, the growth of UBI was accelerated, and the Indian Government nationalized it in 1969. It had 240 branches by that time. The Union Bank of India acquired Belgaum Bank shortly after nationalization. The UBI bought the Miraj State Bank in 1985. In 1999 the Union Bank was requested by the RBI to acquire Sikkim Bank in a rescue after extensive irregularities had been discovered at the non-scheduled bank.