UNION BANK of India’s Chairman and Managing Director M V Nair inaugurated the bank’s Staff Training Centre on the Union Bhawan premises at Arera Hills here today.
The full-fledged training centre has three channels – an exclusively designed computer centre, accommodation facility for 90 to 100 candidates at a time and an in-house hostel – with facilities for recreation, cyber café and sports area.
Addressing a press conference at the bank’s zonal office, Nair said the bank currently has 153 branches in Madhya Pradesh, which would be increased by five more by 2007, including one at Khargone this year.
The bank has 48 branches in the State under core-banking solution (CBS) and 10 more would be included while by March 2008, all branches would be brought under the CBS Network.
“In the absence of power or infrastructure at any village branch, we will not go in for it there,” he said adding that the bank has funded Rs 175 crore in technological intervention this year.
“The bank has come up with the Union Bhumiheen Green Card covering 16,000 villages currently for the benefit of landless labourers, tenant farmers and tillers, and 25,000 villages would be covered within a year,” Nair said.
Speaking high of the recently launched Union Cash Certificate Scheme, he said that deposits would earn 8 per cent interest over a three-year period, with quarterly compounding of interest.
Speaking of the bank’s HR initiatives, he said the aim of the bank is to enhance capabilities of training from one channel to the other.
“We are providing one-year condensed MBA programme at the Union Bank School of Management in association with IIM-B for staff members selected under strict parameters,” he said asserting on the importance of transforming of business to branches.
The banks main thrust is on agriculture, and thereby, increasing financial inclusion and opening of no-frills accounts for the BPL families, he said.
“Under our scheme of converting villages into banking habits, we have covered 800 villages, and by 2007 it would be 1,000,” Nair said adding the bank has targeted a total business mix of Rs 1,60,000 crore for the fiscal ending 2007.
UBI in Madhya Pradesh
1 Total Business – Rs 5,400 crore
2 Total Deposits – Rs 3,790 crore
3 Total Advances – Rs 1,610 crore
4 ATMs – 44