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Our Correspondent

MADURAI: The Union Bank of India opened its first ATM in the city recently.

Speaking to newspersons on the occasion, General Manager, Mr R. Viswanathan, said that retail lending formed 20 per cent of the bank's business. The incremental assistance to agriculture stood at 35 per cent last year. The bank has introduced `core banking solution' (CBS) in 640 of its 2,070 branches in the country and proposed to cover 1,250 more branches by 2006.

While a total of 410 ATMs of the bank are in operation, 600 more would be added in a year's time.

Madurai region will soon have an independent regional office covering 39 branches in the 11 southern districts. The bank has the permission from RBI to open five more branches in the region and these would be started at the earliest, he added.

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