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The Union Bank of India (UBI) recently organized a special outreach program for MSMEs (Micro, Small, and Medium Enterprises) and CASA (Current Account Savings Account) customers in Andhra Pradesh. The event was held at the MSME Industries Associations Facilitation Centre, bringing together over 150 business owners and entrepreneurs from in and around the city.
This initiative is part of a nationwide campaign by Union Bank to support MSMEs and encourage financial inclusion. The Bank is conducting these outreach programs across India for three days, starting from Monday, with a focus on empowering small businesses and helping them grow.
Union Bank Showcases MSME and CASA Services
During the event, Union Bank officials gave detailed presentations about their financial products and services that are specially designed for MSME customers. These include:
- Collateral-free loans up to ₹10 crore under the CGTMSE scheme
- Loans at low interest rates with minimum collateral requirements
- Exclusive schemes for women entrepreneurs (Nari Shakti)
- Support for young business owners (Yuva Shakti)
- Specialised funding for agriculture, food processing, and allied sectors
Bank representatives also held one-on-one discussions with entrepreneurs to understand their financial needs and offer tailored solutions.
Loans Worth ₹100 Crore Sanctioned
As part of the program, several entrepreneurs received sanction letters and in-principle approvals for business loans. The total loan amount sanctioned is expected to reach ₹100 crore, a major boost for local businesses and the MSME sector in the region.
Union Bank Highlights National Performance
UBI General Manager Renu K Nair addressed the gathering and shared the Bank’s performance highlights:
- Total business turnover of ₹22.93 trillion in FY 2024–25
- Total deposits: ₹13.10 trillion
- Total advances: ₹9.83 trillion
- A vast network of 8,500+ branches and 9,000+ ATMs across India
She reaffirmed the Bank’s commitment to supporting MSMEs with easy financing, special schemes, and digital banking services to make business banking more accessible and efficient.
Senior Officials Attend the Program
Key attendees included CVN Bhaskara Rao (Zonal Head), MV Tilak (Regional Head), and Sambaiah, General Manager of District Industries Centre, NTR District, along with other senior officials from Union Bank of India.
