Union Bank to extend core banking to all branches by Mar: CMD

Kozhikode, Jan 16 (UNI) Public sector banking major Union Bank of India would bring all its branches under the core banking umbrella across the country by March 2008, its Chairman and Managing Director V M Nair said today.

Available in 950 branches at present, the facilities would be extended to the remaining 1,050 offices in various parts of the country, he told a meet-the-press programme.

The bank, which had added a record 56 branches on January two, 2007, had decided to open new offices with ATM facility, he said.

To attract more investments, the bank had announced a customer friendly scheme ''Union Double Plus'' enabling the depositor to double his return in a period of 101 months, Mr Nair said.

The scheme announced yesterday offered an interest rate of 8.32 per annum with an added advantage of insurance cover, he said.

Mr Nair said the UBI was actively focussed on incorporating 100 per cent banking habit among villages as 69 per cent of the households in the country were without a bank account.

In Kerala, 78 out of the 139 branches provided CBS facilities to its clientele, he said adding the bank also proposed to enhance its presence and step up its involvement in the Malabar Region, As part of the plan, the bank had opened an Area Business Developemnt Office in the city earlier in the day to cater to the needs of customers in Thrissur, Palakkad, Malappurm, Kozhikode, Wynad, Kannur and Kasargod districts.

UNI