The Hindu Business Line : United Bank upset over `autonomy exclusion'

"We fulfil all the parameters set by the Government to be eligible for the autonomy," according UBI sources. "In almost all respects, our performance record is much better than those of Dena Bank and Punjab & Sind Bank and yet, if the reports in a section of newspapers are to be believed, we have been bracketed with these two banks," the sources observed. How could Indian Bank be considered for autonomy package, the sources wondered.

Reserve Bank of India, satisfied with the performance, had earlier granted some autonomy to UBI, particularly in respect of financial powers and recruitment. There was, therefore, no reason why the bank should not be considered for further autonomy.

UBI, as pointed out, was yet to receive any official communication in this regard. "No letter denying the proposed autonomy has come to us; we've only seen it in newspapers," the sources said adding, "may be, we'll receive the communication in due course."

However, the bank strongly felt that the Government, prior to making announcement, should have circulated a draft package to all banks seeking their views. However, that was not done. "We must know where we have failed and what more needs to be done to be eligible for the autonomy package," the sources said.

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