Union Bank of India will start 10 more branches in Nellore region soon including two new branches at Rajampet and Badvel in Kadapa district, Union Bank of India's Regional Assistant General Manager L.D. Revathkar said on Wednesday.
Mr. Revathkar inaugurated an ATM in the bank branch in NGO Colony here.
The bank has two branches in Kadapa city and one each at Railway Kodur and Proddatur and they mobilised deposits to the tune of Rs. 600 crores and gave advances of Rs. 900 crores, he said.
While the Union Government fixed the credit deposit ratio (CDR) at 60 per cent, UBI has a CDR of 130 per cent, he stated. The bank was in the forefront among nationalised banks in deploying technology. All the branches of the bank have a cent per cent core banking solution system.
The bank has 3,000 branches in the country including 33 in Nellore region. It has 2,500 ATMs in the country and 39 in Nellore region, the AGM said.
The bank was granting agriculture loans to farmers, he said and assured to disburse loans to rice mill owners and those establishing units and fruit processing units. The bank rescheduled crop loans of farmers thrice during natural calamities.
UBI's Nellore regional officer Bhakthavatsala Reddy, Kadapa main branch manager B. Sudhakara Rao, branch manager B.R. Suresh, bank staff and customers participated.
Meanwhile, District Collector Shashi Bhushan Kumar opened the locker facility in the bank's NGO Colony branch and said the bank was assisting beneficiaries under Government schemes.
The bank surpassed its target to disburse Rs. 250 crores to self help groups, he said. Bank officials felicitated the Collector and presented a memento.
The bank has 33 branches and 39 ATMs in Nellore region