NEWS & ADVICE : FIXED DEPOSITS
Union Bank aims for 27 more branches in Andhra
By Neelima Shankar
Jun 20, 2011
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Public sector lender Union Bank of India has set ambitions of setting 27 more branches in Andhra Pradesh in the present fiscal.

"With the proposed branches to be opened, we will have 221 branches in Andhra Pradesh by March 2012,'' Mr M.V. Nair, Chairman and Managing Director, Union Bank of India said.

The bank has presently 194 branches in the state. Mr Nair said that the bank also aims to double its business in the state from Rs 14,500 crore in the last fiscal to Rs 30,000 crore by 2015.

"We are also actively pursuing the goal of financial inclusion. We have been allotted 164 villages having a population of over 2,000 for coverage with banking facilities by March 2012. Out of this, 154 villages have already been covered,'' the CMD said.

"We have also sanctioned loans of Rs 8.5 crore to 17 Mandal Mahila Samakhyas of which Rs 2.16 crore was availed till date. This scheme would benefit 17,000 Self-Help Groups,'' Mr Nair said.


 


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