UCO bank launches door-to-door initiative

New Delhi, July 18 (UNI) Faced with tough competition from the private sector and foreign banks, public sector UCO Bank today launched a major initiative to service their customers, through door-to-door banking.

The bank announced the launch of it's Small Enterprises and Retail Sales Force Team in the NCR region today, after Howrah, Chennai, Bangalore, Bhubaneshwar and Pune.

''The idea of the forces, which comprise our own officials with a banking experience of 15-25 years across all departments, is to link the people with the bank, with regard to their products and services, through this team of officials,'' UCO Bank Executive Director S A Bhatt told reporters here.

The bank is the first PSU bank to launch a Sales Force Team for the Small Enterprises (credit upto Rs 3 crore) and Retail segment in the NCR region by disbursing a total loan of Rs 10.20 crore to 73 customers, Mr Bhatt said.

The team, which will cover 47 cities including the metros, dealing with Small Enterprises and 51 cities in the Retail space initially, will comprise 14 people in the retail and 6 people in Small Enterprises (SE).

''The number of both the cities and the officials will increase depending on the response we get,'' Mr Bhatt said.

The team will market a basket of different products like liability products including current, savings, recurring and fixed deposits; Asset Products including UCO Shelter, UCO cash, UCO trader, UCO rent, UCO mortgage and UCO education and; third party products like LIC and Mutual Funds, instead of a single product.

The bank has targeted a total business of Rs 1,10,000 crore during the current year. The total business of the region is to the tune of Rs 8376.10 crore.

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