In the 1940s, he ventured into the territory of cars and established Hindustan Motors. After independence, Birla invested in tea and textiles through a series of acquisitions of erstwhile European companies. He also expanded and diversified into cement, chemicals, rayon and steel tubes. Ghanshyam Das Birla during the Quit India Movement of 1942, had conceived the idea of organising a commercial bank with Indian capital and management, and the United Commercial Bank Limited was incorporated to give shape to that idea. UCO Bank, formerly United Commercial Bank, established in 1943 in Kolkata, is one of the oldest and major commercial bank of India.