16 pg-union bank of india

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Union Bank of India

About Union Bank of India

Union Bank of India had started with a vision to turn into "the bank of first choice

in our chosen area by building beneficial and lasting relationship with customersthrough a process of continuous improvement". Also referred to as UBI, because of

which many confuse it with United Bank of India, the Union Bank of India hasevolved into one of the largest state-owned banks in India. It is also included on

the Forbes 2000 list.

The Union Bank of India has its offices in the overseas destinations like United

Arab Emirates, Abu Dhabi, Shanghai and Peoples Republic of China. Its branchcan be found in Hong Kong also.

Background

In the year 1919, the Union Bank of India underwent a registration process as a

limited company in Mumbai. Our Father of the nation 'Mahatma Gandhi' had donethe inauguration of this bank. In 1947, UBI had 3 branches in Mumbai and 1 in

Saurashtra. In1975, it was assigned the status of the national bank by thegovernment. At that point of time, it was managing 240 branches across 28 states.

In its journey, UBI witnessed mergers with a private sector bank called Belgaum

Bank and then Miraj State Bank. On the request of RBI, it acquired Sikkim Bank,

which had 8 braches in the North-east at that time.

In the year 2007, Union Bank of India made its presence felt in the international

arena by opening representative offices in the destinations of United ArabEmirates, Abu Dhabi, Shanghai and Peoples Republic of China. Besides, it chose

Hong Kong as the destination to open its very first branch outside India.



List of Directors of the Board

Details

BOARD OF DIRECTORS

SHRI Debabrata Sarkar

CHAIRMAN & MANAGING

DIRECTOR

SHRI S.S.MUNDRA EXECUTIVE DIRECTOR

SHRI SURESH KUMAR JAIN

EXECUTIVE DIRECTOR

SHRI RAJESH KHULLAR

GOVERNMENT NOMINEE

DIRECTOR

SHRI CHANDAN SINHA



Bank Branches and Locations in India

The Banking Industry of India is controlled by the Banking Regulation Act of India,

1949 and can be extensively categorized into two chief sub-categories - scheduled

banks and non-scheduled banks. Scheduled banks encompass co-operative banks

and commercial banks. Commercial banks can be further classified into three

categories in context of control and ownership - provincial rural banks, State

Bank of India and its associate banks, and private sector banks.

Indian Banking Industry witnessed a massive alteration in its operations after the

establishment of Private Sector Banks who are responsible for the initiation of

telephone banking, Automatic Teller Machines (ATMs), mobile banking, internet

banking, etc. Gradually, the private banks coalesced different other facilities and

incorporated them into the conventional banking field, while the public sector

banks are still struggling with displeased workers due to the repercussion of

triumphant VRS Plans.

At present, India hosts around 28 private banks, 89 scheduled commercial banks

(SCBs), 27 public sector banks and 31 international banks. These banks have acollective set-up of over 54,000 sub-divisions and 19,000 ATMs.

List of Bank Branches and Locations in India

To trigger the expansion of banking industry in India, many national and

international banks have set up their Branches and Locations in India :

To get listed here contact:: [email protected]

mailto:[email protected]





Products and Services

Union Bank of India offers its customers various types of products and services sothat they can make the most of their banking experiences. The wide range of the

services and products consist of:

Personal Banking

Accounts & Deposits – cumulative deposit scheme, deposit reinvestment

certificate, monthly income scheme, union flexi-deposit, senior citizens

scheme, multi gain savings account, no frills saving account, union super salary account, union classic current account

Retail Loans – union cash, union home, union health, union miles, unioneducation, union top up, EMI calculator, union smile

Cards - Classic / Silver / Gold, Corporate Credit Cards, Add-On Cards

Insurance & Investment – mutual fund, union healthcare

Demat – demat accounts, online share trading

Payment

NRI Banking

Remittance - Union E-Remit, Nostro Details for Remittance

Savings & Deposits - NRO Non Resident Ordinary A/c Scheme, NRE NonResident External Rupee, RFC, FCNR(B), Union Unfixed, Foreign

Currency Deposit

Loan & Services – house loans, foreign currency loans, loans against

deposit, immovable property, and shares or debenture Payments - Union Bill Pay



Corporate Banking

CMS - Union Speed, Union Centralized Debits/Credits, Union Prompt E-Tax - Customs and Direct taxes, DGFT, Central Excise and Service Tax

Trade Finance – trade finance for exporters, trade finance for importers,foreign currency loans, correspondent banking

Insurance - Non life Insurance – Corporate Agency, Insurance- Corporate

Agency

Syndication of Loans

MSME Banking

Loans & Policies

Internet Banking

Account Information Transfer of Funds

Bills

Requests

Mails

Trade

Limits

Currency

Uploads

Customization

Financial enquiries Non Financial enquiries



Head Office

Union Bank of India

239 Vidhan Bhavan Marg,Central Office,

Nariman Point,Mumbai -21



Union Bank Of India Loans

Union Bank of India is one of the prime public sector banks in India. Over the

years, it has grown as a major bank, which was once led by Mahatma Gandhi-theFather of the Nation. It provides several banking services to its customers. Union

Bank of India loan is the most important service provided by the bank.

Union Bank of India loan enables its consumers to realize their dreams. The bank provides a number of loans such as:

Education loan

Home loan

Car and two wheeler loan

Personal loan

Union Bank of India home loan is given to customer with triple insurance benefit

and flexible remittance options. Any Indian citizen who is 21 years of age or abovewith a steady income may apply for the home loan. The maximum repayment

period is within 20 years, which should not be exceeded. In case of prepayment, no penalty is charged. Besides, the interest is calculated on reducing balance method.

The maximum amount of Union Bank of India home loan can be sought for ` 10lac, applicable for A class cities, whereas for other cities, maximum loan would beupto ` 50 lacs. With regards to flat or house repair loans, one can get a maximum

of ` 10 lacs.

Union Bank of India education loan is another loan advanced by the bank. Anyneedy or a meritorious student is eligible to apply for the education loan. Students

in India can apply for a loan upto ` 10 lac and in order to study abroad, applicantscan get a loan upto ` 20 lac.

The rate of interest charged on the loan differs on the basis of the sex of the

student. For a male student, the rate of interest would be calculated at 12 % (fixed)for a loan above 7.5 lac. On the other hand, female students would be paying

interest calculated at 11.50 % (fixed) for the same amount of loan.

Union Bank of India home loan includes a special scheme called Union Top-up



scheme, which is advanced to its existing home loan borrowers in order to meet the

expenses of home renovation, repair, furbishing and remodeling.

The bank also provides Union Bank of India car loan service. It is extended to

purchase a new car, two wheeler, or a second hand vehicle. In order to apply for the same, the customer should present the guarantor. In case of unmarried person, a

third party guarantor and for those married, guarantee of the spouse would do theneedful.

The bank charges processing on the car loan, which is given as:

Loan above ` 2 lac, for a car or a four wheeler-` 1000

Loan upto ` 2 lac, for a four wheeler-` 500

For a two wheeler-` 250

For the retired government employees, institutions and other banks, who draw

fixed income or pension Union Bank of India demand loan is the option. It isoffered upto ` 1,00,000 or 12 times the monthly pension, whichever is less.

Union Bank of India personal loan or Union Bank of India comfort is offered by

the bank for personal expenses and consumer durables. Remittance of the loan can be made within 36 equated monthly installment. Some of the documents required

for acquiring personal loan include proof of residence and proof of income.



Union Bank Of India Online Banking

Union Bank of India is a premier public sector bank,which has grown over the years as a techno-savvy enterprise. Led by Mahatma

Gandhi — the Father of the Nation, Union Bank of India has traveled the path of

successful banking for more than 88 years. It provides several products andservices to its customers. Union Bank of India online banking is one such

significant service that has brought the world together.

Union Bank of India online banking allows its customers to perform financialtransactions through Internet. It enables them to conveniently source information

from the bank, without personally visiting it. Whether one is in office, at home or traveling, Union Bank of India Internet banking is always there for help. Some of

the Union Bank of India online bank services include:

Transfer of Funds

Information on Account

Payment of Bills

Making Requests online

Online Trading

Online Applications

Booking Tickets online Post grievances online

With the help of Real Time Gross Settlement (RTGS) system, one can easilytransfer funds to more than 35, 000 branches of other banks all over India. There

are minimum bank charges, which would be deducted automatically from theaccount.

Union e-Banking Corporate, Union e-Banking Retail, Union e-TaxPay, Union e-

Remit and Custom Duty Payment are some of the other Union Bank of India net banking services. Besides, consumers can also download several forms and applyonline. Some of these forms include Union dial application form, declaration forms

for partnership firms and FT resolution for companies.

Union Bank of India Internet banking facility is available 24x7.



A Glorious Past - A Brighter Future

Union Bank of India was established on 11th November 1919 with its

headquarters in the city of Bombay now known as Mumbai.

The Head Office building of the Bank in Mumbai was inaugurated by

Mahatma Gandhi, the Father of the nation in the year 1921, and he said on

the occasion:

"We should have the ability to carry on a big bank, to manage efficiently

crores of rupees in the course of our national activities. Though we have not

many banks amongst us, it does not follow that we are not capable of

efficiently managing crores and tens of crores of rupees."

His prescient words anticipated the growth of the bank that has taken place

in the decades that followed. The Bank now operates through over 2800

branches across the country. The Bank's core values of prudent

management without ignoring opportunities is reflected in the fact that the

Bank has shown uninterrupted profit during all 90 years of its operations.

Union Bank has been playing a very proactive role in the economic growth

of India and it extends credit for the requirements of different sectors of

economy. Industries, exports, trading, agriculture, infrastructure and the

individual segments are sectors in which the bank has deployed credit to

spur economic growth and to earn from a well diversified portfolio of assets.

Resources are mobilised through Current, Savings and Term Deposits and

through refinance and borrowings from abroad. The Bank has a large

clientele base of over 24 million.

On the technology front the Bank has taken early initiatives and 100% of its

branches are computerised. The Bank has also introduced Core Banking

Solution with connectivity between branches. 100% of the business of theBank is under Core Banking Solution making it a leader among its peers in

infusion of technology. Many innovative products are developed using the

technology platform to offer an array of choices to customers, adding speed

and convenience to transactions. Technology will also enable the Bank to

derive substantial cost reduction while creating the requisite capacity to

handle the ever increasing volume of business in a competitive environment



that offers immense opportunities.

At the end of September 2011 the Bank achieved total business level of

Rs.3,42,856 crore (Rupees Three Lakh Forty two thousand Eight hundred

fifty six crore)

Behind all these achievements is a dedicated team of staff, which is truly

cosmopolitan in its composition. Many generations of members of staff have

contributed in building up the strong edifice of the Bank. The present team

of over 29000 members of staff distinguishes itself with its customer

centricity, willingness to learn and adherence to values enabling us to be

recognised as a caring organisation where people enjoy their work and

relationship with customers.

z

o become the bank of first

choice in our chosen areas by

building beneficial andlasting relationships with

customers through a process

of continuous improvement

I am a contractor and maintain

Current Account with your Branch

since the Branch was opened.

http://www.unionbankofindia.co.in/Testimonial.aspx?type=Testi12








THE VISION

STATEMENT



Details

Our Corporate Mission

To be a customer centric organization known for its differentiatedcustomer service

To offer a comprehensive range of products to meet all financial needs of customers

To be a top creator of shareholder wealth through focus on profitablegrowth

To be a young organization leveraging on technology & an experienced

workforce

To be the most trusted brand, admired by all stakeholders

To be a leader in the area of Financial Inclusion



Awards & Commendations

Details

Union Bank of India has been the proud recipient of many awards andcommendations. It is an honor to be appreciated for the work we do in serving

the customer and society.

The Dale Carnegie Leadership Award was conferred on Union Bank of India on 28th October 2010 by Dale Carnegie Training for the Bank's

transformation initiatives undertaken through project Nav Nirman.

Our Bank has been the winner of Association of Business Communicators

of India (ABCI) Gold Award for marketing and Brand Communications,2010. The award is in recognition of the transformation process

undertaken by the Bank.

Our Bank was ranked as the 275th most valuable global banking brand for

calendar year 2009, up from 351st rank in 2008. The ranking is carried by Brand Finance Plc, an independent intangible

asset valuation and brand strategy global firm

The brand value rating for Union Bank is A+ (A means strong) compared

to BB (BB means Average) in previous year

Bank's brand value increased by 148% during the calendar year 2009.

The Asian Banker ranked Union Bank of India the 7th Strongest Bank inAsia-Pacific Region in 2009. The Bank was ranked at No. 3 amongst

banks in India.

Our Bank has participated in the prestigious Banking Technology Awards

2009 conducted by IBA-TFCI award and bagged the Best User of Business Intelligence award.

Union Bank of India was awarded the prestigious Skoch Challenger Award 2009 for excellence in capacity building through innovativeconcept of 'Village Knowledge Centre' as part of financial inclusion



Organizational Chart of the Bank

Details

ORGANIZATIONAL CHART



Union Dhara June 2010 Extract

Features

UnionDhara-June 2010 Uttarkhand Special

16 pg-union bank of india

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