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Union Bank introduces new facilities

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Reaching out: Deputy General Manager of Unioin Bank of India P.K. Bansal swipes a card to inaugurate the introduction of Point of Sale terminals in Visakhapatnam on Thursday. R. Pratap Reddy of Financial Technologies (left), General Manager of Union Bank C. Abraham and Assistant General Manager M.C. Joshi look on. Photo: C. V. Subrahmanyam
Reaching out: Deputy General Manager of Unioin Bank of India P.K. Bansal swipes a card to inaugurate the introduction of Point of Sale terminals in Visakhapatnam on Thursday. R. Pratap Reddy of Financial Technologies (left), General Manager of Union Bank C. Abraham and Assistant General Manager M.C. Joshi look on. Photo: C. V. Subrahmanyam

Special Correspondent

Visakhapatnam is the second city chosen for Point of Sale and U-Mobile

Bank opening 500 more branches

Clerical staff was being recruited on a large scale

VISAKHAPATNAM: Union Bank of India became the first public sector bank to introduce Point of Sale (POS) terminals, familiar to the people as card swiping machines to the merchant establishments in the city and also its U-Mobile facility.

The swiping machines were introduced for the first time in Mumbai very recently and Visakhapatnam was the second city chosen for the facility.

The two facilities were introduced at a function organised by the bank here on Thursday in which its General Manager C. Abraham, Deputy General Manager at Central Office, Mumbai P.K. Bansal, Assistant General Manager Visakhapatnam Region M.C. Joshi, vice-president of Financial Technologies R. Pratap Reddy and others participated.

Mr. Abraham said this was another step in improving customer service. Union Bank, which has 2,700 branches is opening 500 more branches by the end of this financial year and would increase its branches in AP from 160 to 200. Forty eight more ATMs are also being installed.

Clerical staff was being recruited on a large scale and campus interviews were being held, Mr. Abraham said. Management trainees from IIMs were also being recruited. Bank would soon become a technology-savvy bank, he said.

Mr. Bansal, while explaining about the new facilities said using credit, debit or prepaid cards would have a very good benefit in future as many risks could be avoided by the customers as well as businessmen. SMS alert would be received immediately after a card was swiped giving details of transaction.

Union Bank was the first public sector bank to introduce U-Mobile through which purchases could be made and funds could be transferred from anywhere and at any time in a secure and convenient method. He said that the bank was aiming to introduce two lakh swiping machines in the next two years and at least 25,000 by March-end.

For the first time United Bank has introduced the PIN security requirement, as per the RBI in the swiping machines, Mr. Pratap Reddy said.

Assistant General Manager Subramanyam and Chief Manager of Regional Office M. Surya Prakasam also spoke. Heads of bank’s branches and other officers and some important customers were present.

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