Jaunpur is a town as well as a municipal board in the Jaunpur district of Uttar Pradesh. Jaunpur is located in the Purvanchal area, towards the northwest of the Varanasi district in the eastern part of the state. A greenfield airport is currently under construction in Jaunpur. Jaunpur was founded 1359 by the Sultan of Delhi Feroz Shah Tughlaq and was then known as Sheeraz-e-Hind. However, the ruler of Jaunpur soon broke off from the Delhi Sultanate and founded the Sharqi dynasty at Jaunpur and continued to rule for over a century till the Delhi Sultanate reconquered Jaunpur in 1493. It passed on to the Lodis and the Mughals and finally to the British after the Permanent settlement of 1779. Jaunpur has extremely fertile land due to the presence of five rivers namely Gomti, Sai, Varuna, Pili, and Basuhi. The Indian government initiated industrialization in 1976. The Satharia Industrial Development Authority was set up with more than 500 acres of land to promote industrial, commercial and social development. Pepsico India Pvt. Ltd and Hawkins Cooker Limited have their manufacturing units in this area. The area is dotted with great historical monuments and a few worth visiting are Shahi Quila Jaunpur Fort, Shahi Bridge, Jaunpur Atala Masjid, Jaunpur Jama Masjid, Lal Darwaza Masjid, etc.
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.