Union Bank opens rep office in Shanghai

Chennai, May 18 (UNI) Union Bank of India (UBI) took a major step towards establishing a presence abroad by opening a representative ofice in Shanghai.

A release here today said the representative office was inaugurated today by Consul General of India Vishu Prakash.

The office will primarily carry out a liaison function facilitating trade and business between India and China.

It will be a point to provide consultation and offer market information services to Chinese industrialists and entrepreneurs aiming to establish their businesses in India and vice versa.

The office will also work towards developing correspondent relationships with Banks in China.

The bank has also received approvals from the Reserve Bank of India for opening branches at Hong Kong and Doha and representative offices at Beijing and Guangdong.

UNI