UBI signed MoU with Bengal government employees for Housing loans

Kolkata, Nov 09 (UNI) Public sector United Bank of India (UBI) has signed a Memorandum Of Understanding (MOU) with the West Bengal government for extending Housing Loan to State Ggovernment Employees under attractive schemes.

UBI Chairman and Managing Director P.K.Gupta signed the agreement on behalf of the Bank, while State Finance Secretary Samar Ghosh did so for the state government at a function here last night in presence of several senior Bank and government officials.

Speaking on the occasion, Mr Gupta said being the lead bank of the state UBI would extend housing loans to state government employees, who have completed at least one year of permanent service for purchase, construction, renovation, furnishing and extension of house or flat and also as a supplementary finance to complete house or flat against which loan was taken from the state government.

However, the quantum of loan will vary for different purposes, Mr Gupta said adding initially the loan would be sanctioned from 15 link branches in Kolkata and 56 link branches in diferent districts and sub-divisional towns of West Bengal before increasing their number in tune with the growth in demand for loan.

With this development the retail loan portfolio of the bank will be strengthened further and it will help boost the Credit/Deposit ratio of the state, the UBI Chairman said.

Moreover, he said, the bank had introduced "United Griha Suraksha Scheme" through which insurance coverage would be given and in case of unfortunate death of the borrower, the outstanding balance would be paid by the insurance company. The bank had also developed a number of other special schemes entitled "United Shikshak Samman Yojana" for the teaching fraternity and "United Children Savings Account".

Mr Ghosh, in his brief speech, hailed the role of UBI and hoped that the bank could play a vital role in the present changing socio-economic scenario of the state.

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