UTI Bank rolls out Priority Banking Lounge in Mumbai

Mumbai, Jan 25 (UNI) UTI Bank today achieved the prestigious distinction of becoming the first bank in the country to roll out it's 'Priority banking Lounge' here.

This ambitious pilot project was rolled out in the posh Lokhandwala area in the western suburbs of the metropolis, where media persons were briefed by the bank's senior vice-president (Retail Banking), Ms Manju Srivasta.

''This concept will act as a boutique banking branch for high networth customers offering a one-stop shop to cater to all kinds of their banking and investment needs,''she said.

When asked what would be the criteria to become the priority customer of the bank, she explained, ''If you are able to maintain a minimum average quarterly balance of Rs 1,00,000 in your savings bank account with any of our branches, you'll be regarded as our priority customer.'' ''The modus operandi of the priority banking lounges are simple.

Once the priority customer enters any of these branches, he/she will be welcomed by the bank's relationship manager who will personally attend to the customer during his entire stay at the bank,'' she said.

''Even the priority customers coming from upcountries need not book any hotel room in the city as they will be provided with almost all facilities they may require. Internet banking, business centre, conference hall, lockers, everything will be provided by the bank to our priority customers. Interestingly all the cabins, except the meeting room (which will be known as experience zone), where privacy is of paramount importance, will be having a transparent look to ensure hassle-free transaction by the priority customer,'' she elaborated.

''While one more such priority bank is being opened in Kolkata by this weekend, other places earmarked for the same facility by the end of the calendar year include Hyderabad, Gurgaon and Bangalore.

The next phase will see the opening of such branches on stand-alone basis at places like Ludhiana, Chandigarh and Ahmedabad. UTI Bank was the first bank in the country to have got RBI's nod for making it's foray into priority banking,'' she added.

Commenting on the response for the new venture, she pointed out that, ''We've already collected a sum of Rs two crore within a time span of one month even before formally launching the project.'' UNI