The Hindu Business Line : Union Bank plans separate regional office in Salem

The bank's regional office in Salem is expected to become operational in June, its Chairman and Managing Director, Mr M.V. Nair, told presspersons here today.

With the opening of the Salem Region, the bank would have four regional offices in Tamil Nadu at Chennai, Coimbatore, Madurai and Salem.

Erode, Namakkal, Krishnagiri, Vellore, Thiruvannamalai and Salem districts would fall under the Salem region, he said.

Reiterating its increased focus in the State in the last couple of years, he said UBI would add 16 new branches in Tamil Nadu this year against 14 in 2006-07. "We hold licence for seven and have applied for nine more. This would take the total branch network in the State to 167 by the end of this fiscal," Mr Nair said.

All branches including the rural ones would be hooked to the core banking solutions platform this year, he added.

The CBS was operative in 76 of the 125 branches in the State at present, he said.

On performance, he said its total business in Tamil Nadu reached Rs 8,650 crore last year.

"We are targeting at Rs 10,750 crore this fiscal. The focus would be on rural initiatives, the CMD said.

He said the bank would extend extension services (non credit) as well besides marketing its credit products to reach out to the rural masses. "We have in place `Village Knowledge Centres' for enhancing farm techniques, price discovery, product use, for identifying new activity etc.

More Stories on : Public Sector Banks | Tamil Nadu

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page