Union Bank of India is one of the largest government-owned banks of India (the government owns 63.44% of its share capital). It is listed on the Forbes 2000, and has assets of USD 13.45 billion.

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About Union Bank

Union Bank of India was established on 11th November 1919 with its headquarters in the city of Bombay now known as Mumbai.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.

Vision of the Bank

To become the bank of first choice in our chosen areas by building beneficial and lasting relationships with customers through a process of continuous improvement .

Mission of the Bank

To be a customer centric organization known for its differentiated customer service

Branches

Bank is having branches in India in the following States/UTs :

  • Andaman And Nicobar Island
  • Andhra Pradesh
  • Arunachal Pradesh
  • Assam
  • Bihar
  • Chandigarh
  • Chhattisgarh
  • Dadra And Nagar Haveli
  • Daman And Diu
  • Delhi
  • Kerala
  • Madhya Pradesh
  • Maharashtra
  • Manipur
  • Meghalaya
  • Mizoram
  • Nagaland
  • Odisha
  • Puducherry
  • Punjab
  • Rajasthan
  • Sikkim
  • Tamil Nadu
  • Telangana
  • Goa
  • Gujarat
  • Haryana
  • Himachal Pradesh
  • Jammu And Kashmir
  • Jharkhand
  • Karnataka
  • Uttar Pradesh
  • Uttarakhand
  • West Bengal
  • Tripura

Services

Services provided by Union Bank are as follows :

1.Cash Management Service

Union Bank offer Cash Management Services employing state of the art technology to effectively manage cash flows and improve the operating funds position of customers' businesses. We offer Issue Management, Dividend and Interest Payment Assignments, and Demat Account services. Among other services, we also arrange for ECGC insurance cover for exporters. Enabling you to manage your funds better

2.Foreign Currency Loans

Bank also provides Pre-shipment credit in foreign Currency (PCFC) to exporters at internationally competitive LIBOR/EURO LIBOR/EURIBOR related rates.Repayment is being made by discount of export bills in Foreign Currency, or out of balances in EEFC.

3.Forward Contracts

It is a contract between the bank and its customers in which the exchange/conversion of currencies would take place at future date at a rate of exchange in advance under the contract.

4. Government Saving Schemes

The scheme is open to individual and account can also be opened on behalf of minor child as a natural / legal guardian.There are various government scheme provided by union bank some are Public Provident Fund ,Sukanya Samridhhi Scheme ,Senior Citizen Saving Scheme,Kisan Vikas Patra etc

Initiatives

The initiatives taken by Union Bank :

Corporate Social Responsibility

Union Bank of India has well developed Corporate Social Responsibility inititatives in place. The focus on the Rural sector is through Village Knowledge Centres and Farmers' Clubs etc. We also have schemes for the girl child, where we take care of education expenses. Initiatives are in place in other areas such as providing drinking water for schools, setting up bus shelters etc. All our CSR initiatives have shown good results and they are an ongoing part of our contribution to the building of this nation.

Village Knowledge Centre [VKC]

Village Knowledge Centres serve as information dissemination centre providing instant access to farmers to latest information/ knowledge available in the field of agriculture, starting from crop production to marketing. Every VKC is manned by a “VKC In-charge” who looks after the operations of the VKC.

Farmers' Clubs

Farmers' club is an initiative by Union Bank of India to encourage farmers in villages catered by our rural branches. Basic idea is to bring farmers together and discuss their problems, solutions and new agricultural practices. This initiative will help in overall adoption of better farming practices.

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