The Hindu Business Line : Union Bank to allot Rs 3,110 cr as loans in Ernakulam

UNION Bank of India, along with other banks, has finalised a scheme to disburse Rs 3,110 crore as loans in Ernakulam district during the current financial year.

Being the lead bank for the scheme, Union Bank will disburse the amount through other banks, co-operative banks and other financial institutions in the district.

The budgeted amount for the current fiscal is higher by Rs 450 crore compared with last year figure, according to a press statement.

The District Banking Committee, under the Chairmanship of the District Collector, which met here, has sanctioned the scheme, the statement said quoting Mr A.P. Varghese, Assistant General Manager, Union Bank; Mr V.C. George, Lead District Manager, Union Bank; and Mr Venkat Subramanian, Assistant General Manager, Nabard.

Of the Rs 3,110 crore, Rs 1,927 crore will be earmarked for priority sector loans. Agriculture and related activities will be provided Rs 551 crore.

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