Union Bank embarks on branch expansion

Mumbai, Dec 28 (UNI) Union Bank, a prime banking institution, has embarked on an ambitious plan of opening 100 branches during the current financial year.

Announcing this, the bank's press release said it has already opened 31 branches during the current year in different parts of the country.

The bank has 163 Village Knowledge Centers set up in different parts of the country to disseminate information to farmers on weather, agro climate conditions and latest information on price of inputs, agricultural produce, input cultivation methods and employment to rural youth.

It has a vision to have global presence in 20 countries by 2012.

As a prelude to above, it has plan to open branches in Hongkong and Doha and representative offices in Shanghai and Dubai.

Besides branch and ATM network, the bank has also evolved innovative measures to reach out to customers. The bank will take assistance of business facilitators to encompass larger number of under privileged in its mission to financial inclusion.

It has taken initiative to inculcate banking habit in villages.

As of September 2006, 806 villages have been made 100 percent banking habit villages across the country.

The bank has also signed MOU with IL&FS Education and Technology Services for setting up pilot Kiosk, to begin with at Ketwadi, in Baramati district of Maharashtra for rendering multi services to farmers / villagers.

Even Indian Railway stations will be networked by the bank by installing 62 ATMs throughout the country. Alongwith ATMs separate Kiosk will be installed for extending facility of internet and electronic ticketing.

With its plan to open 100 new branches during the current year and also expand ATM network to 1000 by the end of current year, it has a plan to achieve business mix of Rs.1,60,000 crore by March 2007.

Recently, the Federation of Indian Export Organisation , New Delhi, has awarded FIEO Niryat Bandhu Gold Trophy for the year 2003-04 and Niryat Bandhu Silver Trophy for the year 2004-05 to Union Bank.

UNI SN SD SKB1828