Telangana

‘UBI to become top bank in Telangana State’

Union Bank of India south zone general manager B. Srinivasa Rao extending financial aid to members of women SHGs at a mela in Karimnagar on Tuesday.

Union Bank of India south zone general manager B. Srinivasa Rao extending financial aid to members of women SHGs at a mela in Karimnagar on Tuesday.   | Photo Credit: By arrangement

To have ₹15 lakh crore in deposits after merger with 2 banks

Union Bank of India (UBI) would emerge as the number one bank in Telangana after the merger of Andhra Bank and Corporation Bank with it from April 1, 2020, said UBI South Zone General Manager B. Srinivasa Rao.

UBI had organised a Swashakthi Mela and disbursed financial assistance to the tune of ₹10.03 crore to over 300 women SHGs in Karimnagar town and industrialists, and Mudra loans on Tuesday in Karimnagar town. Participating in the distribution of financial assistance to women SHGs, Mr. Rao said UBI would have deposits to the tune of ₹15 lakh crore after the merger, and emerge as a leading bank in the country.

Appreciating the women SHGs for cent per cent prompt loan repayment, and encouraging the banks to further extend financial assistance for their economic activities, he said, “UBI would soon organise a mega mela with SHG women to distribute financial assistance to the tune of ₹100 crore. He also recollected that UBI was the first bank in Karimnagar district to extend financial assistance to women SHGs.

Further, Mr. Rao said UBI was committed to rural development, and extending financial assistance to the agricultural sector.

UBI Deputy General Manager C.V.N. Bhaskar Rao, Andhra Bank DGM Satyanarayana Swamy, AGM K.S.N. Murthy, UBI Branch Managers Prahlad, Rahul Chiranjeevi were also present.

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Printable version | Apr 3, 2020 7:56:30 AM | https://www.thehindu.com/news/national/telangana/ubi-to-become-top-bank-in-telangana-state/article30617837.ece

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