Chennai Region have extended credit aggregating to Rs 248009 Lacs to the MSME Sector within which Rs 39784 Lacs to Micro Enterprise Sector & Rs 14769 Lacs under MUDRA YOJNA, Rs 32833 Lacs under Agriculture and allied activities
Chennai, 18th August 2019: Chennai Regional Office of Union Bank of India organised meeting of all Branch Heads on 17th & 18th August 2019 wherein collective consultative and ideation process was undertaken to align Banking with national priorities.
As Branches are the first point of contact with the customers, this consultative process is aimed at understanding performance of branches over a period of previous five years vis-a-vis opportunities available in the respective command areas.
Through this process several ideas have emerged to align Banking with area specific issues & enhancing ease of living by making banks more responsive to customers and enhancing digital access. The specific areas of discussion during the meeting included initiatives required for doubling farmers income, enhancing credit to small businesses particularly through psb59 and MUDRA Schemes & empowering Women & SC/ST Entrepreneurs. It was also emphasised that in order to promote Green Economy and Swachhta activities including reducing usage of plastics and strengthening electric vehicle manufacturing & charging infrastructure, branches may identify alternative sources like ethanol, EV batteries, paper packaging and extend finance to such environment friendly activities/ technology.
On this occasion Shri Lal Singh, Field General Manager Chennai Zone told that PSBs have been central in driving Indian economy and will continue to do so with their strong reach across the country. With the economy at inflexion point, the policy decisions/reforms taken now will define the future of the banking and its contribution to economic growth. This bottom up consultative process will provide a platform for field personnel to represent and bring forward the grass root level challenges in their respective areas. This campaign is unique in a way that it will make them drivers of the policy making/reforms to address the issue of credit off-take at large. This participative process will also help in inculcating sense of involvement and motivation among the field functionaries. He also extended optimism that this exercise will generate ideas that will shape the policies for strengthening the PSBs to act as catalyst in making India a USD five trillion economy.
During the meeting Shri E Pulla Rao, Regional Head, Chennai Region, urged the Branch Heads to popularise focused schemes of the Government like MUDRA, psb59 loans, PMJJBY, PMSBY, PMJDY overdraft etc. He also directed Branches to convey to customers about reduction in loan rates in various segments.
Bank has 224 branches in the state of Tamil Nadu. Out of this 67 Branches are under Chennai Region.
Branches of Chennai Region have extended credit aggregating to Rs 248009 Lacs to the MSME Sector within which Rs 39784 Lacs to Micro Enterprise Sector & Rs 14769 Lacs under MUDRA YOJNA, Rs 32833 Lacs under Agriculture and allied activities.
Chennai Region also extended credit limits under Renewable Energy i.e. wind/solar Energy to the tune of Rs 1500 Lacs and under Social Infrastructure Development i.e. construction of Roads, Hospitals etc. to the tune of Rs 17000 Lacs.
Shri O P Balodi, Dy. Zonal Head and Shri Rajesh Bapat, AGM SARAL informed media that, our Bank has came out with Area Specific Cluster Schemes for Leather Industry, Auto Ancillary and Manufacturing of Kancheepurm Sarees with attractive rate of interest and liberalised terms and conditions.
