TITLE: UNION BANK OF INDIA: A PIONEER IN RURAL & AGRICULTURAL BANKING

SERVICES.

NAME: RAHUL HELKAR.

CLASS: T.Y.B.COM (BANKING AND INSURANCE)

ROLL NO: 156211

COLLEGE: KARMAVEER BHAURAO PATIL COLLEGE, VASHI, NAVI MUMBAI.

 UNIVERSITY OF MUMBAI

RAYAT SHIKSHAN SANSTHA'S

KARMAVEER BHAURAO PATIL COLLEGE

VASHI, NAVI MUMBAI - 400703

COLLEGE CODE:-33

A PROJECT REPORT ON

UNION BANK OF INDIA: A PIONEER IN RURAL & AGRICULTURAL BANKING

SERVICES

SUBMITTED BY

RAHUL.S.HELKAR

PROJECT GUIDE:-

PROF. NEHA KHANDARE.

IN PARTIAL FULFILLMENT FOR THE COURCE OF

BACHELOR OF COMMERCE (Banking & Insurance)

SEMISTER V

ACADEMIC YEAR 2015-2016

 DECLARATION

I, RAHUL HELKAR student of KARMAVEER BHAURAO PATIL COLLEGE, VASHI

Studying in T.Y.B.COM (BANKING AND INSURANCE) (SEMESTER V) hereby declare
that I have completed project report on " UNION BANK OF INDIA : A PIONEER
IN RURAL & AGRICULTURAL BANKING SERVICES. and has not been
submitted to any other university or institute for the award of any degree, diploma etc.
The information is submitted to me is true and original to the best of my knowledge.

Date: Signature

Place: Vashi
 ACKNOWLEDGEMENT

I would like to extend my sincere Gratitude to all those people who helped me in the
successful completion of my project entitled UNION BANK OF INDIA : A
PIONEER IN RURAL & AGRICULTURAL BANKING SERVICES. First and
foremost I wish to take this opportunity of express my deep sense of gratitude to Prof.
NEHA KHANDARE for her valuable guidance in this endeavor. She has been a constant
source of inspiration and I sincerely thank her for her suggestions and help to
preparation this project.

I am grateful to our coordinator Prof. C.D. Bhosale and H.O.D Prof. Archana Salunkhe
for giving me valuable information regarding project.

Special thanks to my parents who have always stood by me I also wish to thank my
friends for their constant support and assignment to make this project worth
presentation before you.
 RAYAT SHIKSHAN SANSTHA'S

KARMAVEER BHAURAO PATIL COLLEGE

VASHI, NAVI MUMBAI - 400703

CERTIFICATE

This is to certify that RAHUL HELKAR STUDENT of B.COM (banking & insurance)
SEMISTER V has completed his project on UNION BANK OF INDIA : A
PIONEER IN RURAL & AGRICULTURAL BANKING SERVICES. And has
submitted a satisfactory report under the guidance of Prof. NEHA KHANDARE in the
partial fulfillment of B.COM (banking & insurance) course of university of Mumbai in the
academic year 2015-2016.

--------------------------- -----------------------------
--------------------------

Project Guide Coordinator Principal

-----------------------------------------------

University Examiner
 INDEX

CHAPTER 1 INTRODUCTION
1.1 A prelude
1.2 Objective of study
1.3 Importance of study
1.4 Scope of study
1.5 Research methodology
(Secondary data )

PROFILE OF UNION BANK OF INDIA

CHAPTER 2 2.1 Origin and History
2.2 Service Profile

CONCEPTUAL FRAMEWORK
CHAPTER 3 3.1: Operation of UBI
( Swot Analysis )
3.2: Performance and services of UBI
(consolidated balance sheet of UBI)
CHAPTER -4 1. ROLE OF UBI IN RURAL AND AGRICULTURE
SERVICE
LONG TERM CREDIT
SHOT TERM CREDIT
CROP LOAN
KISAN CREDIT CARD
2. Organizational Chart of the (UBI)

CHAPTER -5 CONCLUSION & SUGGESTION

ANNEXURE

BIBLIOGRAPHY
PREFACE

Agriculture and rural sectors play an important role in Indias overall development strategy in
terms of income and employment generation and poverty alleviation. Great significance has,
therefore, been accorded to developing appropriate institutions and mechanisms for catering to
the credit requirements of these sectors.

Government of India promoted Regional Rural Banks (RRBs) through the RRBs Act of 1976 to
bridge the gap in the flow of credit to the rural poor. The RRBs have a special place in the multi-
agency approach adopted to provide agricultural and rural credit in India. These banks are state-
sponsored, regionally-based and rural-oriented. Besides the RRBs, commercial and co-operative
banks have been catering to the credit requirements of the rural sector.

The renewed emphasis on agricultural and rural development by the Government of India would
lead to a growing demand for different types of financial services in the rural areas. The present
structure of rural credit may not be able to cater to the same. RRBs would be called upon to play
a greater role in providing such services due to their rural character and feel. RRBs have to take
over a larger share of credit disbursements calling for much larger resource mobilization, as also
greater efforts for their institutional strengthening.

Farmers in India have had to face a number of problems, one of them being great difficulty in
getting credit because of the peculiar nature of agricultural credit. The element of uncertainty is
greater in agriculture as compared to other sectors because even today a considerably high
proportion of Indian agriculture is dependent on the vagaries of the monsoon. The agriculturalists
(borrowers) want credit at relatively low rates of interest but the lender desires to charge a higher
rate of interest to cover the risk of uncertainty. Union Bank provides a complete suite for
products and services for Agricultural/ SSI/ Tertiary Sector needs. The range is large and varied,
and tailored for all segments of customers from individuals to corporate. Lending to Priority
Sectors of the economy is a very important of our advances portfolio. This study envisages the
significance of banking by union bank of india primarily for the development of agricultural and
rural sectors.
CHAPTER 1 : INTRODUCTION

1.1 A Prelude

In the last few years, the Indian economy has emerged as one of the fastest growing economies
in the world. However, the vulnerability of the Indian economy with respect to the performance
of the agricultural sector despite other macroeconomic indicators and sectors gaining in strength
is well known. The rural population in India suffers from a great deal of indebtedness and is
subject to exploitation in the credit market due to high interest rates and the lack of convenient
access to credit. Rural households need credit for investing in agriculture and smoothening out
seasonal fluctuations in earnings. Since cash flows and savings in rural areas for the majority of
households are small, rural households typically tend to rely on credit for other consumption
needs like education, food, housing, household functions, etc. Rural households need access
to financial institutions that can provide them with credit at lower rates and at reasonable terms
than the traditional money-lender and thereby help them avoid debt-traps that are common in
rural India.

The banking sector has witnessed a huge growth in the recent years. However, despite such a
growth, the credit flow by banks to the rural and agricultural sectors remains dismal, which,
more or less, has resulted in financial exclusion of the rural masses. The rural and agricultural
sectors have to play a very important role if a target of 8% GDP growth per annum as envisioned
in the tenth plan is to be achieved. And the banks and the Chartered Accountants have a huge
role to play in boosting the rural and agriculture sector through product innovation, broadening
the reach, promotion of SHGs/Micro enterprises and providing know-how.

Union Bank provides a complete suite for products and services for Agricultural/ SSI/ Tertiary
Sector needs. The range is large and varied, and tailored for all segments of customers from
individuals to corporate. Lending to Priority Sectors of the economy is a very important of our
advances portfolio. This study is conducted to highlight the important contribution in the banking
for agricultural and rural development.

1.2 OBJECTIVE OF THE STUDY :

To study effective management, professional approach and business success of Union bank of
India in the contemporary Indian Rural & Agricultural banking sector

The detailed objectives of the study are:

1. To understand the background of Union Bank of India (UBI).

2. To ascertain the effectiveness of management of UBI.
3. To know the professional approach adopted by UBI.
4. To evaluate the banks success and factors affecting the success.
5. To analysis the growth of UBI in rural and agricultural banking sector.
6. To recommend ways to UBI to improve its performance.

1.3 Importance of study:

From the inception of banking sector, it has been viewed as means to benefit the Rural &
Agricultural sections of society and bring out their financial inclusion. The Union bank of India
had been performing well in difficult financial environment and always satisfied their customers
and provided them with innovative products. Union bank of India has been giving results at par
with other private banking sector. The study of Union bank of India strategy, professional
approach and innovative products is the pathway for other banks.

1.4 Scope of study: The study encompasses various aspects of UBI such as its profile,
functions, various services rendered, problems faced, success stories, comparison with other
government banks, competition from private banks, its growth in rural and agriculture sector,
strategies and innovating ideas adopted, the trends in growth over the years and the future ahead.
1.5 Research methodology :

The study primarily uses data from secondary sources such as reports from books, journals, and
internet, banks annual reports and other publications.

The data so collected are analysis and interpreted with the help of statistical tools such as tables,
charts, diagrams, figures and trend analysis in order to provide clarity in the presentation.

CHAPTER SCHEME:

Chapter-1: Introduction

1.1 A prelude

1.2 Objective of study

1.3 Importance of study

1.4 Scope of study

1.5 Research methodology

Chapter-2: Profile of Union Bank of India

2.1 Origin and History

2.2 Service Profile

Chapter-3: Conceptual Framework

3.1: Operation of UBI

3.2: Performance and services of UBI

Chapter-4: 1. Role of UBI in Rural and Agriculture service

2. Organizational Chart of the Bank

Chapter-5: Conclusion & Suggestions

Appendix

Bibliography

CHAPTER-2: PROFILE OF UNION BANK OF INDIA

2.1 Origin and History

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 crore 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 crore and tens of crore 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 4200+ 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 96 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 mobilized through Current, Savings and Term Deposits and through refinance and
borrowings from abroad. The Bank has a large clientele base of over 5.7 crores.
Union Bank began its international expansion in 2007 with the opening of representative offices
in Abu Dhabi, United Arab Emirates, and Shanghai, Peoples Republic of China. The next year,
Union Bank established a branch in Hong Kong, its first branch outside India. In 2009, Union
Bank opened a representative office in Sydney, Australia.

At present, the offshore banking operations of Union Bank of India are led by its branches in
Hong Kong and newly opened branch in Dubai at Dubai International Financial Centre.

On the technology front the Bank has taken early initiatives and 100% of its branches are
computerized. The Bank has also introduced Core Banking Solution with connectivity between
branches. 100% of the business of the Bank 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.

The Bank operates in all the areas including retail lending, personal banking, corporate banking,
international banking and investments & treasury. Banks lending also caters to the rural and
semi urban centers, financing Agriculture and allied activities, rural artisans, micro & medium
enterprises in these areas. Bank has opened 198 Village Knowledge Centres to provide
information to the local community on better agriculture practices, commodities, marketing
facilities and financial education. Bank also offers third party products like life and general
insurance, mutual funds, on-line trading, wealth management services through tie- up with other
FIs.

Bank places customer at the centre of all its operations and has transformed the process, people
and organizational structure. Bank has initiated a large scale transformation process named Nav
Nirman to address two critical aspects of growth-instilling the drive of sales & marketing across
bank staff and reconfiguration of banks business model. The transformation process focuses on
four key initiatives
a) Retail Asset ( marketing & processing)
b) SME marketing & processing)
c) Branch sales and services( improving the customer experience in the branch)
d) Centralisation of key processes
Bank has brought all its branches under Core banking solutions .Union Bank is the first large
bank to achieve 100% CBS roll out. Bank has taken lead to establish alternate delivery channels
in the form of ATMs, internet banking, phone banking and Mobile Banking. Bank has introduced
many technology based services like RTGS, online NEFT free of cost, on line application for
products and services and online redressal of grievances.

The business is grouped under various Verticals and well defined Business Strategic Units
were formed, which will drive the growth. Bank has a network of more than 2500 service outlets
which includes specialized branches for MSME (SME SARALS), corporate credit, Union Loan
points for Retail Products etc. Bank has representative offices in Abu Dhabi and Shanghai and is
in the process of opening its office in Sydney, Australia. A full fledged overseas branch was
opened in Hong Kong. To serve the varied banking needs of the NRIs, Bank has placed number
of Marketing Officials at various centers in UAE and Shanghai. Bank has plans to deploy more
number of Marketing Officials at many other places. Bank plans to open 500 new branches in the
next six months for which it has received licences from RBI. The bank will accelerate its
presence in the global market space at key locations in the next two years as part of the Vision
strategy.

Diversification: Union Bank in partnership with Bank of India and Dai-Ichi of Japan has formed
a subsidiary for distribution of Life insurance products, which has started selling the products.
Bank has signed an agreement with Belgian KBC group for setting up a joint venture AMC in
India. Union Bank has signed MoU with NSIC for training and setting up Incubation cum
Training centers to promote first generation entrepreneurs in MSME segment. Bank has entered
into MoU with NCMSL for financing against warehouse receipts for agri. commodities kept at
NCMSL warehouses. Bank has announced opening 100 specialised Business Banking branches
across the country to focus exclusively on MSME sector with turn around time of 2 weeks for
sanction of proposals. Bank has launched mobile banking facility Umobile which facilitates
limited transactions and other services through mobile phones.

Growth & Performance: Total business of the Bank at the end of Dec08 stood at Rs.2,22,625
crore registering a growth of 28.33 % over Dec07.The banks total deposits as on 31st Dec08
reached a level of Rs.1,29,647 crore from Rs.99227 crore as on Dec07 ,an increase of 30.66%.
Gross advances of the Bank reached a level of Rs.92,978 crore as on 31st Dec08,registering a
growth of 25.22% over Dec07.The Capital Adequacy Ratio of the Bank (BASEL I) is at 12.32%
& BASEL II at 13.41 % as on Dec08.The net interest margin of the Bank increased to 2.97% for
the nine months period ended Dec08.Return on average assets improved from 1.31% in Dec07
to 1.92% in Dec08(QoQ) indicating more efficient use of Funds. The asset quality recorded a
significant improvement with steep reduction in Net NPAs from 0.35% in Dec07 to 0.14% in
Dec08 and the Gross NPAs from 2.10% to 1.68%.

The brand and the promises: Bank has adopted a simple new logo for universal appeal and to
aid top of mind recall. The new logo symbolizes the qualities and values we stand for- Blue
standing for the commitment and the Red for the passion the Bank brings to the work. Union
bank has promised 4 key deliverables to customers based on the strength built in
1) Value for money
2) Committed turnaround time for delivery of products and services
3) Choice of banking channels for customers and
4) Transparency in product offerings and prices

Bank promises that YOUR DREAMS ARE NOT YOUR ASLONE ,there is a bank that is ready
to fulfill the dreams of every one and thus ensuring that we remain GOOD PEOPLE TO BANK
WITH for all times to come.

At the end of March 2015 the Bank achieved total business level of Rs. 5,79,627 crore
(Rupees five lakh seventy Nine thousand six hundred and twenty seven 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 36,000 members of staff distinguishes itself with
its customer centricity, willingness to learn and adherence to values enabling us to be recognized
as a caring organization where people enjoy their work and relationship with customers.

2.2 Service Profile

1969 - The Bank was brought into existence by the Ordinance issued On 10th July, by the central
Government. In terms of the Ordinance, the Undertaking of `The Union Bank of India, Ltd. was
replaced by the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1969. An
Ordinance was thereupon promulgated which was later repalced by the Banking Companies
(Acquisition and Transfer of Undertakings) Act, 1970 which was made effective retrospectively
from 19th July, 1969.

1970 - Under the `Lead Bank' scheme, the Bank was allotted 5 districts and the survey reports in
respect of 3 districts were submitted. The Bank opened a total of 36 branches in the lead districts
till the end of 1972.

1972 - A fresh study-cum-survey was undertaken for evaluation of results of the Bank's
activities in the area, further identification of growth area and credit gaps and preparation of a
concrete programme of action in such areas. The Bank sponsored four regional rural banks.

1982 - Rs 275, 00,000 Was capitalized.

1985 - Rs 2400, 00,000 contributed by Government.

1986 - Rs 14, 00, 00,000 contributed by Government.

1988 - Rs 14, 00, 00,000 contributed by Government.

1991 - Rs 50 crores contributed by Government.

1993 - Rs 230 crores contributed by Government.

2000 M. Venugopal, chief executive of Bank of India's European Operations, has been
appointed executive director of Union Bank of India. Union Bank of India has introduced a
special leave scheme for its employees. The Bank has introduced novel credit schemes for
housing and consumer finance.

2001
-Bank closed its voluntary Retirement Scheme.
-United Bank of India has raised Rs.100cr by way of subordinated debt Under Tier II.
-UBI cuts its Prime Lending Rate to Rs.11.50% from 12.50%.
-United Bank of India has launched special Deposit Scheme for senior citizens, which will offer
a high rate of interest on all domestic term deposit.
-United bank of India staff college, which received ISO 9001 certification, is offering its
training programmes on commercial basis.
-Bank appoints Price Water Coopers (PwC) as consultant for putting in place a structured
asset liability management and risk management system.
-UBI has identified KPMG as its strategic technology consultant for implementing the 'core
banking solution'.
-Taking into consideration the sovereign ownership, diversified risk portfolio, consistent track
record, the credit rating agency (ICRA) has assigned an LAA+ rating to the 100cr subordinated
debt programmed of UBI.
-UBI bond issue for Rs. 100cr was oversubscribed by over 20% on the first day.
-UBI has increased the maximum limit for investments in 'held for trading securities to
Rs.1000cr for the current fiscal in a bid to increase its bottom-line.
-Bank lowers the interest rates on all maturities.
-HDFC Standard Life Insurance Company has tied up with Union Bank of India for selling its
insurance products.
-UBI has forayed into the loan syndication business for corporate. The bank has raised a one-
year syndicated loan of Rs.400cr IOC.
-Chennai based SSI has signed an agreement with Union Bank of India to jointly provide loans
to students to pursue IT education.
2002
-UBI ties up with New India Insurance Company for market and distributes the products of
New India Insurance Co on a commission basis.
-The issue of 170cr Tier-II subordinated debt was fully subscribed within two hours of its
penning.
-UBI has recorded 102% hike in the net profit to Rs. 314cr from Rs.155cr as in the last year.
-UBI has brought down interest rates on its housing loans.
-UBI introduced a new scheme called 'Union Express Remittance scheme to provide service to
NRI in West Asia. The scheme would reduce the time lag in the receipt of draft by the
beneficiary.
-UBI has set up Cash Management Services (CMS) in Coimbatore.
-Union Bank has tied up with two IT companies to develop core banking solutions. -Shares of
UBI were listed on sensex, Nifty.
-Union Banks specially designed loan product 'Union Rent' for owners of buildings or portion
thereof rented out to reputed companies has got good response.
-Union Bank of India has launched an emergency cash-on-hand scheme christened as Union
Lifeguard to cater to the hospitalization needs in Mumbai.
-Standard Chartered bank has entered into an 'agency trade services agreement with UBI,
according to which all letters of credit issued by UBI to Asian countries would be done through
Stan Chart.

2003
-UBI launches 2 new schemes that is NRI Foreign Currency Loans (NRIFCL) and Domestic
Resident Foreign currency accounts for the benefit of NRI and FCNR (B) customers.
-UBI has launched today its major IT initiative, the Core Banking Solution (CBS), for
Anywhere Banking interconnecting its 12 branches across centers.
-Union Bank has signed an agreement with Corporation Bank to share its Cash Management
System infrastructure.
-UBI implemented Quality Management System in 64 branches and 3 extension counters and
obtained ISO-9001 certification.
-Union Bank ties up with more banks for the sharing of ATM network.
-UBI has launched Union Bill Pay, a convenient utility bill payment service for its customers in
association will Bill desk.
-Tata Consultancy Services, jointly with PeopleSoft Solutions is to implement an end-to-end
integrated HRMS and payroll solution for UBI.
-Towards its expansion, Union Bank has signed a contract with 2 more exchange companies,
one each with UAE Exchange Centre and Al Muzaini Exchange Company in the middle east.
-UBI with other five PSB's launched Cashtree, a network to interconnect all their countrywide
ATM's at Bangalore.
-Union Bank has forged with an alliance with Maruti Udyog Ltd and Ford India Ltd for
providing loans to their customers at competitive and plans to expand its business in retail
services.
-UBI has tied up with Jain Irrigation Systems Ltd to offer crop finance schemes to farmers.
-Central Government has appointed Mr. Suresh Vishnupant Dange, special Assistant, Union
Bank of India.
-UBI's Chairman and Managing Director have been appointed as Chaiman of India Bank
Association.
-Union Bank launches new schemes and hike interest rates on non-resident indian deposits.
-Raises Rs.250 crores towards Tier II Capital
-Opens representative offices at Dubai (UAE) & Doha (Qatar)
-Union Bank of India & Ford India tie-up for financing ford cars.
-Moodys Investor Services has upgraded the rating of Union Bank to D- from E+.
-UBI joins hands with Eicher, L&T for farm financing
-UBI launches unqiue Housing Loan Scheme for IB staff
2004
-Union Bank of India Launches Union Suraksha - Easy Life Cover -Union Bank ties up with
HDFC Standard Life to provide bank depositors an insurance cover under group policy with a
target to bring in 50,000 customers under risk cover
-Union Bank of India has informed that the Central Government has nominated Shri A N Rao,
Chief General Manager, Dept of Exp & Budgetary Control, Reserve Bank of India, Mumbai as a
Director of Union Bank of India with effect from January 09, 2004 and until further orders vice
Shri P Saran, RBI nominee Director on the Board of the Bank.
-Union Bank of India has entered into a bancassurance tie-up with the Export Credit Guarantee
Corporation Ltd (ECGC) for marketing the latter's export credit insurance products
-Union Bank Of India has informed that the Bank's Juhu Tara Road Branch has bagged the 'Best
Branch Award for Technosavvy & Customer Friendly' awarded by the Institute for Development
and Research in Banking Technology (IDRBT), Hyderabad.
-Union Bank Of India has informed that the Bank has on April 07, 2004, inked an agreement
with SBI Life Insurance Co. Ltd. to make available to the Bank's Home Loan borrowers' life
insurance cover on group basis.
-TVS Motor Company and Union Bank of India (UBI) have announced the launch of `Union
Miles Scheme,' an exclusive two-wheeler finance scheme
- Union Bank of India (UBI) has signed an agreement at Kochi, to facilitate international money
transfer services using UAE Exchange Company's `Xpress Money' on April 28, 2004.
-Union Bank of India has launched Union e-Remit, powered by TimesofMoney
-UBI ties up with Reliance MF to sell its products
-Union Bank of India in association with SBI Life Insurance has launched its new product,
Union Home Plus
-The Union Bank of India and the TVS company have tied up to provide finance for purchase
of 3,000 motor-cycles in the coastal districts during the current financial year
-The Union Bank Of India has launched a new scheme `Union Home Plus' for the benefit of
housing loan borrowers
-Union Bank of India inaugurated its retail finance boutique at Ghatkopar (East) in Mumbai
-Union Bank of India has tied up with SBI Life to provide a group life insurance scheme for
housing loan borrowers in Andhra Pradesh called 'Union Home Plus'
-Union Bank of India has launched a life insurance linked recurring deposit (RD) scheme in
association with the Life Insurance Corporation of India.
-Union Bank of India introduced six new products, including an insured recurring deposit
scheme in association with Life Insurance Corporation, as part of its strategy to become a one-
stop shop
-UTI Mutual Fund (UTI MF) and Union Bank of India announced a strategic tie up for
distribution of UTI MF Schemes
-Union Bank of India has signed a memorandum of understanding for a tractor financing
Arrangement with Indo Farm Tractors & Motors Ltd and L&T - John Deere Pvt. Ltd on all India
basis. Indo Farm Tractors & Motors Ltd has agreed to offer discount of Rs 6,000 for tractors up
to 45 H.P. and Rs 6,500 for tractors above 45 H.P. L&T - John Deere Pvt. Ltd has offered
discount of Rs 4,000
-UBI launches new 'insurance recurring deposit' scheme
-UBI forges alliance with Netafim Irrigation Pvt Ltd

2005
- Principal PNB Asset Management Company ties up with Union Bank of India for distribution
of their mutual fund schemes.
-Union Bank's tie-up for Boosting Agriculture Lending
-Union Bank unveils new scheme to promote milk production
-UBI opens retail mart in Pune
-Union Bank's Launch of On-Line Trading Services
-Union Bank of India launches new agri-clinic scheme

2006
-Dena Bank and Union Bank of India have tied up with Small Farmers Agri-business
Consortium (SFAC) to facilitate growth of agri business.
-Union Bank ties up with LIC to unveil group insurance.
- Union Bank of India has nominated Smt. Rani Satish as part-time non-official Director on the
Board of the Bank for a period of three years from the date of notification i.e. January 02 ,2007
or until her successor is nominated or until further orders, whichever is the earliest.
-Union Bank inks agreement with DGFT
-Union Bank joins hand with NBHC
-Union Bank launches sale of gold coins

2007
- Union Bank of India has informed that the Central Government, in exercise of the powers
conferred by clause (a) of Sub-section (3) of section 9 of the Banking Companies (Acquisition
and Transfer of Undertakings) Act, 1970 / 1980, read with sub-clause (1) of clause 3, sub-
clause(1) of clause 8 of the Nationalised Banks (Management and Miscellaneous Provisions)
Scheme, 1970 / 1980, and after consultation with the Reserve Bank of India, have appointed
Shri. T Y Prabhu,
General Manager, Canara Bank, as Executive Director of the Bank, from the date of his taking
charge of the post and until further orders or till the date of his superannuation i.e. up to
December 31, 2010, whichever is earlier.
-Union Bank sets up retail asset branch at Madurai

2008
- Union Bank of India has informed that the Central Government, in exercise of the powers
Conferred by Sub-section 3(h) and (3-A) of Section 9 of the Banking Companies (Acquisition
and Transfer of Undertakings) Act, 1970/1980, read with sub-clause (1) of clause 3 of the
Nationalised Banks (Management and Miscellaneous Provisions) Scheme, 1970/1980, have
nominated Shri. Ashok Singh as part-time non-official Director on the Board of the Bank for a
period of three
Years from the date of notification i.e. February 19, 2008 or until further orders, whichever is
earlier.
-Union Bank Of India had informed regarding appointment of Smt. Monika Kalia as Company
Secretary of the Bank. The Bank has now informed that Smt. Monika Kalia is designated as
Compliance Officer of the Bank. Her Contact number is 22896650 and E-mail id
Monikakalia@unionbankofindia.com.
-Union Bank of India has rolled out two prepaid cards- Gift Card and Payroll Card. Both the
cards are issued in denomination of Rs 500 to Rs 50,000 and are Visa-enabled. Gift Cards are
issued in convenient denomination of Rs 500 to Rs 50,000
-Union Bank launches wealth management services
- Union Bank of India has informed that the Central Government, in exercise of the powers
conferred by clause (e) of sub-section 3 of Section 9 of the Banking Companies (Acquisition and
Transfer of Undertakings) Act, 1970, read with sub-clause (2) (a) of clause 9 of the Nationalized
Banks (Management and Miscellaneous Provisions) Scheme, 1970, has appointed Shri. N
Shankar as Workmen Director on the Board of Union Bank of India in place of Shri. Suresh
Vishnupant Dange, for a period of three years from the date of notification i.e September 15,
2008 or until further orders, whichever is earlier.

2009
- Union Bank of India has informed BSE that the Central Government, in exercise of the powers
conferred by sub-section 3 (h) and (3-A) of Section 9 of the Banking Companies (Acquisition
and Transfer of Undertakings) Act, 1970/1980, read with sub-clause (1) of clause 3 of the
Nationalised Banks (Management and Miscellaneous Provisions) Scheme, 1970/1980, has
nominated Dr. Gulfam Mujibi as part-time non-official Director on the Board of Directors of the
Bank, for a period of three years from the date of notification i.e. January 29, 2009 of his
appointment or until further orders, whichever is earlier.
- Union Bank of India has informed that the members at the Extra Ordinary General Meeting
(EGM) of the Company held on June 22, 2009, to elect three Directors from amongst
shareholders other than the Government of India, in place of the following retiring shareholder's
directors:
Shri. R R Nair, Prof. N L Sarda, Prof. M S Sriram. Further it may be noted that the following
three Directors have been elected in the aforesaid Extraordinary General Meeting. Shri. Arun
Kumar Nanda, Prof. M S Sriram (re-elected), Shri. S Ravi.
- Union Bank Of India has appointed Shri S.C. Kalia, (DoB: 06.08.1951) Executive Director of
Vijaya Bank, as Executive Director of Union Bank of India.
- Union Bank of India appointed Mr S.C. Kalia as Executive Director.

2010
- Union Bank of India has nominated Shri B. M. Sharma, as part-time non-official director
under Chartered Accountant Category, on the Board of Directors of Union Bank of India, for a
period of three years from the date of notification i.e. April 16, 2010, of his appointment and/or
until further orders, whichever is earlier.
- Union Bank of India has informed BSE that the Central Government, in exercise of the powers
conferred by clause (c) sub-section 3 of Section 9 of the Banking Companies (Acquisition and
Transfer of Undertakings) Act, 1970/1980, read with sub-clause (1) of clause 3 of the
Nationalized Banks (Management and Miscellaneous Provisions) Scheme, 1970/1980, has
nominated Smt. Meena Hemchandra, as Director under RBI Nominee Category, on the Board of
Directors of Union Bank of India, in place of Shri K. Sivaraman with immediate effect from the
date of notification i.e. July 30, 2010 and until further orders.
- Union Bank of India has informed BSE that the Central Government, in exercise of the powers
conferred by clause (a) of Sub section (3) of section 9 of the Banking Companies (Acquisition
and Transfer of Undertakings) Act, 1970/1980, read with sub-clause (1) of clause 3 and sub
clause (1) of clause 8 of the Nationalised Banks (Management and Miscellaneous Provisions)
Scheme, 970/1980, and after consultation with the Reserve Bank of India, has appointed Shri. S
S Mundra, General Manager, Bank of Baroda, as Executive Director of Union Bank of India,
with effect from the date of his taking over charge of the post and up to July 31, 2014 i.e. the last
day of the month in which he would attain the age superannuation or until further orders,
whichever is earlier Shri. S. S. Mundra has taken over charge as Executive Director of the Bank
from September 01, 2010.

2011
-Union Bank to expand operation in UK, Australia.
-Union Bank of India bags Best Middleware Implementation Award.

2012
-Union Bank to open 100 talking ATMs.
-Board recommended a Dividend of Rs. 8 per equity share.
-Our bank bags IDRBT IT Excellance Awards 2012-13 under following categories
- IT Excellance Award for Best IT Team
- Special Award for Technology for FI
- Special Award for Managing IT Risk
2013
--Union Bank of India has Appointed Ms. Neha Agrawal as a Compliance Officer.
-Board recommended a Dividend of Rs. 8 per equity share.
2014
-Union Bank of India has Appointed Shri. Mihir Kumar as a Nominee Director.
-Board recommended a Final Dividend of Rs. 1.30 per equity share.
-Union Bank of India bags the Express Uptime Champion Award 2014 for its Network
Operations.
-union bank has won 3 IBA banking technology awards

Source : Dion Global Solutions Limited

CHAPTER-3: CONCEPTUAL FRAMEWORK

3.1: Operation of UBI:

SWOT ANALYSIS
 SWOT Analysis

1. Financial products for agricultural sector

2. Products aligned to Government schemes
3. Emphasis on Customer Satisfaction
4. Union bank of India has over 27,700 employees
5. It has representative offices in Abu Dhabi, United Arab
Emirates, and Shanghai, Peoples Republic of China, Australia and
a branch in Hong Kong.
6. Online Telebanking facility are available to all its Core
Strength Banking Customers - individual as well as corporate

1. Nominal International presence as compared to leading

players

Weakness 2. Advertising is lesser which leads to lower brand presence

1. Small scale business banking

2. More global penetration through International banking
Opportunity 3. Acquisition of smaller local banks

1. Economic crisis
2. Highly competitive environment
Threats 3. Stringent Banking Norms
consolidated Balance Sheet of Union Bank
------------------- in Rs. Cr. -------------------
of India

Mar '15 Mar '14 Mar '13 Mar '12 Mar '11

12 mths 12 mths 12 mths 12 mths 12 mths

Capital and Liabilities:

Total Share Capital 635.78 741.31 707.79 661.55 635.33
Equity Share Capital 635.78 630.31 596.79 550.55 524.33
Share Application Money 0.00 0.00 0.00 0.00 0.00
Preference Share Capital 0.00 111.00 111.00 111.00 111.00
Init. Contribution Settler 0.00 0.00 0.00 0.00 0.00
Preference Share Application Money 0.00 0.00 0.00 0.00 0.00
Employee Stock Opiton 0.00 0.00 0.00 0.00 0.00
Reserves 17,838.68 16,544.67 16,722.39 14,117.15 12,297.11
Net Worth 18,474.46 17,285.98 17,430.18 14,778.70 12,932.44
Deposits 317,450.34 297,651.06 263,681.55 222,776.52 202,400.00
Borrowings 35,168.00 29,316.23 23,796.88 17,909.49 13,315.97
Total Debt 352,618.34 326,967.29 287,478.43 240,686.01 215,715.97
Minority Interest 8.81 19.17 29.79 40.54 52.66
Policy Holders Funds 0.00 0.00 0.00 0.00 0.00
Group Share in Joint Venture 0.00 0.00 0.00 0.00 0.00
Other Liabilities & Provisions 11,042.64 9,282.69 7,973.51 7,519.45 7,861.88
Total Liabilities 382,144.25 353,555.13 312,911.91 263,024.70 236,562.95
Mar '15 Mar '14 Mar '13 Mar '12 Mar '11

12 mths 12 mths 12 mths 12 mths 12 mths

Assets
Cash & Balances with RBI 15,063.87 18,419.98 10,763.22 11,633.69 17,644.84
Balance with Banks, Money at Call 7,539.14 4,900.66 5,447.98 4,070.15 2,487.99
Advances 255,921.12 229,104.67 208,102.43 177,882.09 150,993.22
Investments 95,449.41 94,636.35 81,808.31 63,103.81 58,913.15
Gross Block 2,690.14 2,621.17 2,482.53 2,339.20 2,287.92
Revaluation Reserves 1,424.71 1,459.34 0.00 0.00 0.00
Accumulated Depreciation 0.00 0.00 0.00 0.00 0.00
Net Block 1,265.43 1,161.83 2,482.53 2,339.20 2,287.92
Capital Work In Progress 4.29 2.22 12.87 8.59 13.58
Other Assets 6,900.99 5,329.40 4,294.57 3,987.16 4,222.25
Minority Interest 0.00 0.00 0.00 0.00 0.00
Group Share in Joint Venture 0.00 0.00 0.00 0.00 0.00
Total Assets 382,144.25 353,555.11 312,911.91 263,024.69 236,562.95

Contingent Liabilities 362,805.87 207,999.87 330,847.48 238,838.79 164,743.35

Bills for collection 0.00 0.00 0.00 0.00 0.00
Book Value (Rs) 290.58 272.49 290.20 266.42 244.53

Source : Dion Global Solutions Limited

Union Bank of India

Consolidated Yearly Results ------------------- in Rs. Cr. -------------------

Mar '15 Mar '14 Mar '13 Mar '12 Mar '11
Interest Earned
(a) Int. /Disc. on Adv/Bills 23,982.58 21,740.36 19,140.46 16,026.63 12,031.24
(b) Income on Investment 7,742.79 7,314.59 5,714.86 4,578.28 4,011.00
(c) Int. on balances With RBI 191.12 178.53 198.61 330.91 161.10
(d) Others 247.79 160.05 114.60 216.66 257.60
Other Income 3,957.12 3,140.73 2,868.04 2,316.31 2,039.72
EXPENDITURE
Interest Expended 23,639.55 21,466.72 17,575.38 14,229.73 10,234.31
Employees Cost 3,844.63 3,347.66 2,793.94 2,496.51 2,604.23
Other Expenses 2,838.64 2,528.42 2,111.53 1,519.76 1,370.05
Depreciation -- -- -- -- --
Operating Profit before Provisions
5,798.58 5,191.46 5,555.72 5,222.79 4,292.07
and contingencies
Provisions And Contingencies 3,041.12 3,149.26 2,518.21 2,541.42 1,349.59
Exceptional Items -- -- -- -- --
P/L Before Tax 2,757.46 2,042.20 3,037.51 2,681.37 2,942.48
Tax 1,000.00 372.64 906.36 925.62 873.45
P/L After Tax from Ordinary
1,757.46 1,669.56 2,131.15 1,755.75 2,069.03
Activities
Prior Year Adjustments -- -- -- -- --
Extra Ordinary Items -- -- -- -- --
Net Profit/(Loss) For the Period 1,757.46 1,669.56 2,131.15 1,755.75 2,069.03
Minority Interest -- -- -- -- --
Share Of P/L Of Associates -- -- -- -- --
Net P/L After M.I & Associates 1,757.46 1,669.56 2,131.15 1,755.75 2,069.03
Equity Share Capital 635.78 630.31 596.79 550.55 635.33
Reserves Excluding Revaluation
17,838.68 16,544.67 15,158.23 12,583.32 10,723.27
Reserves
Equity Dividend Rate (%) -- -- -- -- --
ANALYTICAL RATIOS
a) % of Share by Govt. 60.47 60.13 57.89 54.35 57.06
b) Capital Adequacy Ratio - Basel -I -- -- -- -- --
c) Capital Adequacy Ratio - Basel
10.83 11.89 11.45 11.85 12.95
II
EPS Before Extra Ordinary
Basic EPS 27.67 27.56 38.44 33.79 39.46
Diluted EPS 27.67 27.56 38.44 33.79 39.46
EPS After Extra Ordinary
Basic EPS 27.67 27.56 38.44 33.79 39.46
Diluted EPS 27.67 27.56 38.44 33.79 39.46
NPA Ratios :
i) Gross NPA 13,030.87 9,563.72 6,313.83 5,449.86 3,622.82
ii) Net NPA 6,918.97 5,340.08 3,353.38 3,025.23 1,803.44
i) % of Gross NPA 4.96 4.08 2.98 3.01 2.37
ii) % of Net NPA 2.71 2.33 1.61 1.70 1.19
Return on Assets % 0.48 0.52 0.79 0.79 1.05
Public Share Holding
No Of Shares (Lakhs) 25.13 25.13 25.13 25.13 22.51
Share Holding (%) 39.53 39.87 42.11 45.65 42.94
Promoters and Promoter Group Shareholding
a) Pledged/Encumbered
- Number of shares (Lakhs) -- -- -- -- --
- Per. of shares (as a % of the total
-- -- -- -- --
sh. of prom. and promoter group)
- Per. of shares (as a % of the total
-- -- -- -- --
Share Cap. of the company)
b) Non-encumbered
- Number of shares (Lakhs) 38.44 37.90 34.55 29.92 29.92
- Per. of shares (as a % of the total
100.00 100.00 100.00 100.00 100.00
sh. of prom. and promoter group)
- Per. of shares (as a % of the total
60.47 57.89 57.89 54.35 57.06
Share Cap. of the company)
Notes |201503 |201403 |201303 |201203 |201103

3.2: Performance and services

The Annual Report of the Bank for the Financial Year 2014-15 together with the ''Audited
Balance Sheet'', ''Profit & Loss Account'', ''Cash- Flow Statement'' and the report on ''Management
Discussion & Analysis''. The ''Corporate Governance Report'' and ''Business Responsibility Report'' also
form part of the Annual Report 2014-15.

1. Financial Highlights

1.1. Strategic approach towards balanced growth, profitability and proactive risk management has
helped your Bank in achieving the targeted growth, thereby strengthening the Bank''s business base for
a more profitable growth in future.

Table 1: Income Statement

(Rs.crore)
Particulars FY FY Annual Growth
2014-15 2013-14 Absolute %
Interest Income 32084 29349 2735 9.3
Interest Expended 23640 21470 2170 10.1

Net Interest Income 8444 7879 565 7.2

Other Income 3523 2822 701 24.8
W/W fee based income 1872 1635 237 14.5
Total Income 35607 32171 3436 10.7
Operating Expenses 6144 5483 661 12.1
 Establishment Expenses 3786 3308 478 14.4
Operating Profit 5823 5218 605 11.6
Provisions 4042 3522 520 14.8
Net Profit 1782 1696 86 5.1
Earnings Per Share (Rs.) 28.1 28.0 0.1 0.2

1.2. As per the capital conservation and augmentative strategy, the Bank strives to generate higher
profits from its operations. The total income of the Bank increased by 10.7 per cent to Rs. 35,607 crore
during the financial year. The interest income grew by 9.3 per cent to Rs. 32,084 crore and the interest
income on investments grew by 5.5 per cent.
1.3. The interest expenses of the Bank stood at Rs. 23,640 crore for the year ended March 31,2015.
Operating expenses of the Bank increased at a decelerated rate of 12.1 per cent as against a growth rate
of 21.5 per cent registered last year.

2. Non Interest Income

For enhancing its coverage of operating expenses, your Bank has undertaken several initiatives to
boost income through alternative revenue streams which resulted in an increase of 24.8 per cent in Non
Interest income of the Bank to Rs. 3,523 crore for the year 2014-15 compared to Rs. 2,822 crore for
2013-14. Fee based income has been one of the focus areas of the Bank for FY 2014-15; and it
increased by 14.5 per cent to Rs. 1,872 crore mainly due to increase in commission & exchange, forex
income and processing charges. The income from treasury operations also contributed with a growth
rate of 44.7 per cent and stood at Rs. 1,334 crore, within which the profit of Rs. 709 crore was on
sale of investment for FY 2014-15. Due to your Bank''s continuous efforts to improve the asset quality,
the Bank has more than doubled in terms of cash recovery. The same thrust was also seen in recovery
in written-off accounts which increased by 19.7 per cent during the year.

3. Provisions and Contingencies

3.1. The allocations for provisions and contingencies for the year 2014-15 amounted to Rs. 4,042
crore compared to Rs. 3,522 crore in FY 2013-14.

3.2. The provisions for non-performing assets stood at Rs. 2,537 crore during 2014-15 compared to
Rs. 2106 crore in the previous year. The provision for standard assets was Rs. 246 crore compared to
Rs. 310 crore in the previous year.

4. Profitability & Productivity

4.1. The operating profit of your Bank increased by 11.6 per cent during the year and reached Rs.
5,823 crore for FY 2014-15 compared to Rs. 5,218 crore for FY 2013-14.

4.2. The BankRs.s provisions to operating profit ratio at 43.6 per cent for FY 2014-15 as against 40.4
per cent for FY 2013-14.

Chart 2: Movement of Operating Profit and Provisions

4.3. Even after a proportionately higher increase in provisions, the net profit of the Bank increased by
5.0 per cent and reached Rs. 1782 crore for FY 2014-15 compared to Rs. 1696 crore for FY 2013-14.

4.4. Reviving the asset quality has been another focus area of the Bank as one of the causes of
declining profits is the deteriorating asset quality. The higher amount of provisions against bad assets
has adversely affected the net profits in the past. Your Bank laid special attention on restricting
slippages and better recovery, as a result of which the total recovery improved to Rs. 3,060 crore
within which the cash recoveries stood at Rs. 1,537 crore as on March 31, 2015 as against
Rs. 765 crore as on March 31, 2014, registering a growth of 100.9 per cent during the year. The
slippages were also restricted to Rs. 6,527 crore as of March 31,2015; thus, the gross NPA stood at
4.96 per cent of gross advances.

4.5. The following are the key productivity ratios of your Bank as on March 31,2015.

Table 2: Productivity Ratios

FY FY Annual
Parameters Growth %
2014-15 2013-14
Average Business Per
Employee (Rs. crore) 14.5 13.8 5.1
 Average Business Per
Branch (Rs. crore) 125.8 120.2 4.7
Net Profit Per Employee
(Rs. lakh) 5.0 5.0 0.0
Net Profit per Branch
(Rs. lakh) 43.7 43.8 -0.23

5. Spread Analysis

5.1. Your Bank took a pro-active stance in the dynamic macro-economic setting to withstand the
pressure on the cost of funds. By rebalancing the portfolio and focusing on risk return trade off, the
yield on advances were maintained at 10.4 per cent for FY 2014-15. Though there was no momentum
on increase in yield on advances, the advances risk weighted assets to gross advances ratio came down
to 75.7 per cent as on March 31, 2015 as against 77.4 per cent as on March 31,2014. Also the Bank
was able to restrict the growth in risk weighted assets at a slower pace of 10.5 per cent for March 2015
compared to growth of 12.1 per cent registered by advances for March 2014.

5.2. The cost of deposits improved to 7.3 per cent for March 2015 as against 7.4 per cent for March
2014 and was mainly driven by the reduction in high cost deposits, a 9.9 per cent annual growth in
saving deposits and an overall softening of interest rates in the domestic economy.

CHAPTER- 4.1: ROLE OF UBI IN RURAL AND AGRICULTURE BANKING

SERVICES
Long Term Credit

Our Government Business Cell offers a bouquet of products for our customers: Pension
payments, Collection of various Taxes, Deposit Schemes like Senior Citizens Deposit Scheme &
Public Provident Fund Accounts, Investment opportunities in Government Bonds, Future -
securing Schemes like the New Pension Scheme.
In many ways, we are like a bridge linking the people and the Government.

LOAN FOR MINOR IRRIGATION

Loan for minor irrigation is available for financing - Drip/Sprinkler Irrigation System.

Eligibility:-

All small/marginal/large farmers are eligible for financing for installation of drip/sprinkler
irrigation system.
Quantum of loan:- Around 85% of the project cost, including cost of electric motor, pipeline,
booster pump (sprinkler system), filtration equipment (Drip System), etc. is provided by the
Bank.

Margin:- Margin includes 10% to 15% of the project cost. Subsidy, if any, will form part of
margin.

Repayment:-

15 years with moratorium period up to 11 months (to coincide with harvesting of

crops/marketing of produce).

Security:- Up to Rs. 1,00,000/- Hypothecation of assets/crops will be taken. Above

Rs.1,00,000/- Mortgage of land and/or third party guarantee will be taken in addition to
hypothecation of assets/crops.

LOAN FOR LAND RECLAMATION & DEVELOPMENT: Loan for Land Reclamation and
Development provides hassle-free finance for land leveling, reclamation, bunding, and other soil
conservation developmental activity.

Eligibility:- Farmers having own land or cultivating Registered leased land. Small and Marginal
Farmers as defined by NABARD for this purpose Share croppers/Tenant Farmers. The farmer
should have adequate surplus income from his production activities on the land being financed
and other income to repay the Bank loan with interest.

Quantum of loan:- Quantum of loan to be sanctioned depends upon:

Area of the land to be purchased.

Its value in the market.

(For the purpose of valuation of land, for fixing the quantum of finance, the price indicated by
the borrower may be crosschecked with the Registrar/Sub-Registrar of the area).Quantum of loan
will include land purchase cost, development cost and cultivation expenses.

Margin: - No margin in case of finance for crop cultivation based on scale of finance. Up to Rs.
1,00,000/- - Nil Above Rs.1,00,000/- - 10% to 15%.
LOAN FOR AGRICULTURAL LAND PURCHASE

Loan for Agricultural Land Purchase is provided:

To make small and marginal holdings economically viable.

To bring fallow lands and waste lands under cultivation.

To step up agricultural production and productivity.

To increase the income of share croppers, tenant farmers, small and marginal farmers.

Eligibility:- Small and Marginal Farmers as defined by NABARD for this purpose Share
croppers/Tenant Farmers.

The farmer should have adequate surplus income from his production activities on the
land being financed and other income to repay the Bank loan with interest.

Quantum of loan:- Quantum of loan to be sanctioned depends upon:

Area of the land to be purchased.

Its value in the market.

(For the purpose of valuation of land, for fixing the quantum of finance, the price
indicated by the borrower may be crosschecked with the Registrar/Sub-Registrar of the
area).Quantum of loan will include land purchase cost, development cost and cultivation
expenses.

LOAN FOR FARM MECHANIZATION

Loan for farm mechanization provides hassle-free and adequate credit for purchase of farm
machinery like tractors, combine harvester, power tillers, farm implements, trolley, etc.

Eligibility:- In order to avail loan for the purchase of Combine Harvesters, etc.

Farmers should have five acres of perennial irrigated land or corresponding acreage as
Farmers should have done productive work for a minimum of 2,000 hours in a year.

In order to avail loan for the purchase of Tractors, Power Tillers with accessories, implements
&/or Trolley, etc.

Farmers should have at least five acres of perennially irrigated land or corresponding
acreage as prescribed for different categories of land under the concerned State Land
Ceiling Act.

Farmers should have done productive work for minimum 1000 hours for Tractors and
600 hours for Power Tillers. prescribed for different categories of land under the
concerned State Land Ceiling Act.

Quantum of loan:- The amount of loan that one can avail depends on 85% to 95% of
cost of the Unit based on quotation.

ESTATE PURCHASE LOAN

Objective

To purchase estates growing traditional plantation crops vie. coffee, tea, rubber and
cardamom, cashew, pepper, coconut and other perennial orchard crops.

ELIGIBILITY

The purchaser should have yielding estates and should be in a position to rejuvenate the
Estate proposed to be purchased.
 The purchaser should be experienced in the line, financially sound and should be in a
position to bring in margin and service the debt and should have satisfactory past dealings
with the Bank

The intending buyer should qualify the respective State Government norms of being an
agriculturist / satisfy the income criteria stipulated by the State Government

The total land holding including the land to be acquired should be within the land ceiling
norms of respective State.

Quantum of Loan

Shall be based on the lowest of (i) Market value (ii) Guidance value/Circle rate fixed by
the State or (iii) purchase consideration, after retaining the necessary margin.

For the purpose of the valuation of land to be purchased, price indicated may be cross
checked with the last five years average registration value available with the registrar/sub
registrar of the area and a view is taken by the bank for fixing the quantum of finance.

Rate of Interest: Linked to base rate.

Repayment Period: The loan should normally be repayable within 7 to 9 years.

In case of specific cases, depending on the status of the Estate and rejuvenation period
required, it may be extended up to 20 years.

KISAN ALL PURPOSE TERM LOAN

Objective

To create a hassle free single -term loan limit to farmers for all term loan requirements. Like
Farm Mechanization. Land Development, Minor irrigation, Water Conservation, Horticulture,
Allied activities and other agri related activities etc.
However development projects with a long gestation period (say more than 3-4 years) may not
be considered in view of the specific tenor of this credit product (egg. demo plantation-requiring
gestation of 6-7 years)

ELIGIBILITY

Individual, Joint/ Group of Farmers-owner cultivators, JLGs/SHG etc. engaged in Agriculture

and related activitiese.

Type of Loan:

It shall be single transaction Term loan Limit Loan repayable within 9 years. The purposes for
which the limit is granted shall not be a part of the Kisan Credit card limit and it shall be a
separate Single transaction account.

Quantum of loan Ceiling

To be based on the investment plan given by the farmer to be undertaken in the next 2-3
years.

The plan can be a combination of investment/development activities relating to

agriculture and allied activities.

It shall be subject to 5 times of Annual income of the farmer including allied activities or 50% of
the value of land mortgaged whichever is lower, with a maximum Rs. 20 Lakhs-

Margin:

Small and Marginal farmers: 5%

Other farmers 15%

The entire margin need not be brought in upfront for the entire limit.

The required margin may be brought at the time of creation of asset only.
SCHEME FOR FINANCING CONSTRUCTION OF COLD STORAGES/ GODOWNS

PURPOSE

To meet the production, investment, and consumption needs of the farmer, i.e. cultivation
of crop, purchase of farm equipment, etc., allied activities and consumption needs like
marriage, medical treatment, education, etc.

To cover farmers having proven track record and also new farmers who are either not
availing any loan or if availing finance from some other Bank, can be taken over if the
repayment record is clean and their existing loan account is standard asset. Alternatively
they can close their account with their existing Banks and switch over to us.

Eligibility:-

All Co-Operatives, Companies, Corporations, Partnership and Proprietary Firms, Agriculture

Produce Marketing Committees/Boards, Agro Industries Corporations and Growers'
Associations, Individuals.

Quantum of loan:-

50% of the project cost may be considered as term loan. The eligible amount of subsidy also
would be allowed as term loan as the subsidy is back ended.

Subsidy:- Cold storage unit is eligible for subsidy of 25% of the project cost.

Objective

The scheme aims at providing term loan to small marginal farmers including share croppers
/tenant cultivators to purchase agricultural land as well as fallow and wasteland production/ to
develop and cultivate it with a view to increase production/ productivity and also enables them to
diverse the present activities and take up allied activities.

ELIGIBILITY
 Small and marginal farmers i.e., those who would own maximum of 5 acres of non-
irrigated land or 2.5 acres of irrigated land including the land to be purchased.

Entrepreneurs with agricultural background are also eligible (Provided State laws permit
purchase of agriculture lands by non-agriculturists).

Share' croppers / tenant farmers cultivating upto 2.5 acres of irrigated land or 5 acres of
unirrigated land as the case may be.

The total land holding of the borrower after the purchase of the .land under the scheme should
not exceed 2.5 acres of irrigated land or 5 acres of non-irrigated land or equivalent.

Quantum of Loan & Ceiling

The quantum of loan will depend upon (i) valuation as assessed by the Branch (ii) Guidance
value/Circle rate fixed by the State or (iii) the registration value whichever is lower, plus value of
stamp duty, registration charges for sale / mortgage deed. Maximum amount Rs. 10.00 lakhs.

The applications /documentation as applicable to agriculture Term loans as per respective Bank's
guidelines

UNION MORTGAGE SCHEME FOR FARMERS

The main reasons behind providing Union Mortgage Scheme for Farmers are:

To meet the production, investment and consumption needs of the farmer, i.e. cultivation
of crop, purchase of farm equipments, etc., allied activities and consumption needs like
marriage, medical treatment, education, etc.

To cover farmers having proven track record and also new farmers who are either not availing
any loan or if availing finance from some other Bank, can be taken over if the repayment record
is clean and their existing loan account is standard asset. Alternatively they can close their
account with their existing Banks and switch over to us.

Eligibility:- Progressive, literate and illiterate farmers who are owners, cultivators, tenants,
lessee farmers with recorded occupancy rights or farmers with ancestral/perpetual rights. Oral
tenants can be eligible for loans, if landowners agree to become co-borrowers. Loan can be
availed jointly if property is in the name of some one else.

Quantum of loan:-

Loan amount will be fixed on the basis of 5 times of annual farm income or 50% of the
value of land mortgaged, whichever is less, subject to maximum limit Rs.10.00 lakh.

Farmers can avail finance for educational needs of his ward up to 50% of the sanctioned
amount - maximum Rs. 2.50 lakh (whichever is lower) within the overall sanctioned
limit.

For other consumption purposes, loan will be restricted to 20% of the sanctioned amount or
Rs.50, 000/- whichever is lower.

Margin:-

As per the scale of finance for crop cultivation. In other cases, 5% to 15% margin to be brought
by the borrower depending upon purpose

SCHEME FOR FINANCING SETTING UP OF AGRI-CLINICS/ AGRI-BUSINESS

Agri-clinics or Agri-business are envisaged to provide expert services and advice to farmers on
cropping practices, technology dissemination, crop protection from pests and diseases, market
trends and prices of various crops in the market and also clinical services for animal health etc.
which would enhance productivity of crops/animals.

For the development of Agri-business/Agri-clinic, finance set up scheme is available only

for the below given model projects

Soil, Water Quality and Input Testing Laboratory Service Centre.

Plant Protection Service Centre.

Vermi-composting Unit
 Horticulture Clinic and Business Centre.

Agro service Centre - Farm Machinery.

Agro service Centre- Farm Machinery and Primary Processing.

Private Veterinary Clinic.

Private Veterinary Clinic with Retail Outlet for Feed and Medicine.

Private Veterinary Clinic with Small Dairy Unit.

Private Artificial Insemination Centre.

Eco-hatchery for Carp Seed Production and Extension Services.

Purpose:-

To provide finance to set up Agri-clinics/Agri-business centres as

Agri-clinics are to provide expert services and advice to farmers on agriculture and
clinical services for animal health.

Agri-business centres are to provide input supply and farm equipments on hire to farmers

Eligibility:- As per the scheme, only agricultural graduates or graduates in subjects allied to
agriculture like Horticulture, Animal Husbandry, Forestry, Dairy, Veterinary, Poultry Farming,
Pisciculture and other allied activities are eligible for this finance.

Quantum of loan:- As per the scheme, 10 lakhs are available to individuals and 50 lakhs are
provided to a group of five members.

Repayment Period:-

The repayment period is from 5 to 10 years depending on the activity including a grace period of
2 years.
Insurance:- All movables of the unit will be insured as per norms. Insurance of poultry birds is
optional. The poultry borrower can contribute towards a separate risk fund in lieu with insurance

LOAN FOR AGRICULTURE ALLIED ACTIVITIES

The purpose behind providing loan for allied activities is to give hassle free and adequate credit
i.e. working capital and term loan for agriculture allied activities, mainly livestock rearing, like
Dairy, Poultry, Goatery, Piggery, sheep rearing, etc.

Eligibility:-

Individuals/SHGs having knowledge in running the activity.

Quantum of loan:- As per the NABARD, the quantum of loan will depend on the unit cost with
applicable margins subject to economic viability.

Repayment Period:- 3 to 6 years.

Insurance:- All movables of the unit will be insured as per norms. Insurance of poultry birds is
optional. The poultry borrower can contribute towards a separate risk fund in lieu with
insurance .

KISAN TATKAL SCHEME

Purpose

An instant credit, for farming community to meet the emergency requirements for Agriculture
and Domestic purposes for tiding over temporary difficulties.

ELIGIBILITY

Individual farmers /joint borrowers (not exceeding 4 farmers) who are existing Kisan Credit
Card (KCC) holders having satisfactory track record of atleast two years.

Type of Loan:

It shall be single transaction Term loan limit Loan repayable within 3 years.

Quantum of loan Ceiling

Minimum limit: Rs. 1000/Maximum limit: Rs. 50000 /- (Subject to ceiling at 50% of KCCS
limit/ 25% of annual income)

LOAN FOR BIO/GOBAR GAS PLANTS

When planning for big projects, sometimes there are chances that we may not have adequate
liquid cash available with us. That is the time when Banks come to your rescue in the form of
loans. RABD provides loan for an assortment of projects among which one is the construction of
Bio/Gobar Gas Plants.

Purpose:-

To provide hassle-free and adequate credit, i.e, working capital and term loan for the construction
of bio-gas plant and to acquire accessories like stove, lamp, etc.

Loan amount:-

The loan amount will depend upon the size of the plant. Subsidy is fixed by the Government of
India in relation to geographical areas, states, and notified hill areas/desert district. Subsidy is
given to all farmers irrespective of their Category, which will be treated as part of margin.

Minority Welfare

Many developmental plans are being implemented for Minority Communities focusing on their
social and economic development. Once their educational, social and economic condition is
improved, they can be brought more fully into the main stream of society.

Union Bank has prepared a Roadmap to step up Priority Sector Lending to Minority
Communities, planning to achieve the targeted level of 15% of Priority Sector Advances by
2010.

Government of India has recently launched the 'Prime Minister's New 15 Point Programme
for the Welfare of Minorities' to ensure that the beneficiaries from Minority Communities get a
fair share of Bank credit under various Government sponsored schemes as well as other Priority
Sector Lending.
An important objective of the programme is to ensure that the appropriate percentage of the
Priority Sector Lending is targeted for the Minority Communities and the benefits of the various
Government sponsored schemes for the under privileged reach the disadvantaged sections of the
Minority Communities.

ROAD MAP TO ACHIEVE TARGETED LEVEL OF 15% BY 2016 :-

Union Bank of India as a leading Nationalised Bank of the country has a widespread network of
4078 branches throughout the country and has already commenced initiatives to enlarge our
financial exposure to Minority Communities.

To step up Priority Sector Lending to Minorities Bank has prepared a Roadmap to achieve the
targeted level of 15% of Priority Sector Advances to Minority Communities by 2016. Present
status of lending to Minority Communities is Rs.10482 crores as of Mar-2015 (11.99%) and our
Bank has planned to reach the projected level of Rs.15000 crores by 2016, which will meet the
stipulated requirement of 15% of Priority Sector Advances.

SUPPORT FOR AGRICULTURE/FARM SECTOR

Under Farm sector, assistance is available for poultry/dairy development, production credit, farm
mechanization, minor irrigation, land development, purchase of land, etc
TRAINING NEEDS:-

Our Bank has established 14 Rural Development and Self Employment Training Institutes (R-
Seti) in our Lead Districts viz. Ernakulam and Idukki (Kerala), Varanasi, Mau, Azamgarh,
Ghazipur, Jaunpur, Bhadohi, Chandauli (Uttar Pradesh), Samastipur, Khagaria (Bihar) and Rewa,
Sidhi, Singrauli (Madhya Pradesh) and a Rural Development Foundation at Alibaug
(Maharashtra) to impart training for skill upgradation as well as provide consultancy services to
take up self employment ventures

Self Help Group(SHG)

Self Help Group is a homogeneous group of micro entrepreneurs with affinity among themselves,
voluntarily formed to save whatever amount they can conveniently save out of their earnings and
mutually agree to contribute to a common fund of the group from which small loans are given to
the members for meeting their productive and emergent credit needs at such rate of interest,
period of loan and other terms as the group may decide.

SELP HELP GROUP.

Objective:

To meet the credit needs of the poor by combining flexibility, sensitivity and
responsiveness of the informal credit system with the strength of technical and
administrative capabilities and financial resources of the formal credit institutions.

To build mutual trust and confidence between the bankers and the rural poor.

To encourage banking activity both on thrift as well as credit side in a segment of the population
that the formal financial institutions usually find difficult to cover.

Eligibility:

The group should

Be in active existence for at least a period of six months.

Have successfully undertaken savings and credit operations from its own resources.

Maintain proper accounts/records.

Work democratically wherein all members feel that they have a say should be evident.

Be formed to reflect genuine need to help each other and work together and Branch
Manager should be convinced that the group has not come into existence only for the sake
of participation in the project and availing benefits there under.

Have members preferably with homogenous background and interests.

CLUSTER SCHEMES

Features:-
Bank has approved various Area Specific Schemes based on the suitability of various location.
Some of the major Area Specific Schemes are as under:

Area Specific Scheme for Poultry Farming for Andhra Pradesh and Punjab State;

Area Specific Scheme for cultivation of sugarcane under tie-up with sugar factories (Pan
India);

Area Specific Scheme for sugarcane harvesting and transport contractor under tie-up with
sugar factories (Pan India);

Area Specific Scheme for Pine Apple Growers for Kottayam & Ernakulam Regions ;
 Scheme for financing Crossbred Cows under tie-up with Milk Producer Union for Baroda
Region;

Area Specific Scheme for cultivation of crops / vegetables / flowers under green
house/poly house/shade for Gujarat State; (Union Bio-Tech PAN India);

Scheme for financing modern Aquaculture (shrimp farming) for Nellore Region;

Scheme for financing farmers for installation of Drip Irrigation System under tie up with
Jain Irrigation (Pan India);

Cluster scheme for construction/renovation of cold storage (Pan India);

Area Specific Scheme for financing farmers for Mango & Cashew Plantation for Goa &
selected districts of Maharashtra;

Scheme for returned NRIs in the state of Kerala;

Scheme for tobacco growers under tie up arrangement with Tobacco Board for
Vijayawada Region;

Scheme for financing group of mango cultivator under tie up of M/S Keventer Agro
Limited for Kolkata Region

Kisan Credit Card Scheme for financing farmers above Rs.3.00 lacs at concessional Rate
of Interest in Rajasthan

Scheme for potato growers in Jalandhar Region

Scheme for financing Cross Bred Cows under tie up with SABAR Dairy in Mehsana
Region
 Scheme for financing Food & Agro Based processing units in Dehradun Region

Scheme for financing to Cotton Ginners & Traders (PAN India)

Scheme for production, multiplication, processing, certification and distribution of seeds

(PAN India)

Scheme for agriculture inputs/machineries/ implements dealers (PAN India)

SHORT TERM LOAN:

Rural and Agriculture Business

Union Bank provides a complete suite for products and services for Agricultural/ SSI/ Tertiary
Sector needs. The range is large and varied, and tailored for all segments of customers from
individuals to corporate. Lending to Priority Sectors of the economy is a very important of our
advances portfolio.

The Agriculture sector plays a major role not only in the economy of our country but also in
providing livelihoods to millions of rural folk. We support the farmer by way of Short term credit
for financing crop production, by helping with purchase of seeds, fertilizers, pesticides etc. All
types of crops are supported, from staples like rice to cash crops like sugarcane and cotton
including multiple cropping.

UNION GREEN CARD:

Union Green Card is provided to meet working capital requirements of farmers for cultivation of
crops. Under this loan, investment credits like minor irrigation, farm mechanization, etc. and
allied activities to agriculture are provided. Besides, to meet other consumption needs such as
education, consumable items, medical expenses, etc. up to 25% of the limit are available at or
Rs.50, 000/-, whichever is lower.

Eligibility:-

All farmers are eligible to avail loans under conventional/cash credit crop loan scheme
and/or other agricultural activities including allied activities.

Farmers, who are not defaulter in any credit institution.

Progressive, literate and illiterate farmers who are owners, cultivators, tenants, lessee
farmers with recorded occupancy rights or farmers with ancestral/perpetual rights, oral
tenants can be eligible for loans, if land owners agree to become co-borrowers.

UGC can also be taken against some liquid securities like gold jewellery/NSC/FDRs/KVPs, etc.

Quantum of loan:-

A) For conventional as well as high yielding crops, investment credit viz. minor irrigation, farm
mechanization, etc. allied activities and consumption needs: -

Acreage (Irrigated Lands) Maximum loan limit*

a) Up to 1 acre --- Rs.20,000/-

b) Above 1 acre and up to 3 acres --- Rs.75,000/-

c) Above 3 acres and up to 6 acres --- Rs.2.00 lacs

d) Above 6 acres and up to 8 acres --- Rs.3.00 lacs

e) Above 8 acres --- Rs.3 to Rs.5 lacs

* Lower limits can be sanctioned in each category.

However, for medicinal and herbal plants, hi-tech agriculture, plantation of special crops like
vanilla, safed musali, etc. and medium term loans like minor irrigation, farm mechanization, etc.
actual cost of cultivation plus medium term loan and allied activities and consumption needs may
be considered in which case above mentioned maximum ceiling will not be applicable. In such
case, proper proof for cost of cultivation should be produced and value of land must be more or
equal to amount of loan.

CROP LOAN:

The crop loan is provided to meet all expenses involved in raising a particular crop including
various agronomic practices.

Eligibility:-

Farmers cultivating owned/Registered leased lands/share croppers.

Quantum of loan:-

As per the scale of finance fixed by the Technical Committee of each district. [Depending on
merits of each case, branches may sanction crop Loans 35% more than the scale of finance fixed
by district technical committee. In other cases where scale of finance is not specified, the branch
will work out the credit requirements of the farmer.

KISAN CREDIT CARD:

Kisan Credit Card is provided with the following objectives

The short term credit requirements for cultivation of crops

Post harvest expenses

Produce marketing loan

Consumption requirements of farmer household

Working capital for maintenance of farm assets and activities allied to agriculture, like
dairy animals, inland fishery etc.

Investment credit requirement for agriculture and allied activities like pump sets, sprayers, dairy
animals etc.

ELIGIBILITY

a. All Farmers Individuals / Joint borrowers who are owner cultivators

b. Tenant Farmers, Oral Lessees & Share Croppers

SHGs /JLGs of Farmers including tenant farmers, share croppers etc.

3. Fixation of credit limit/Loan amount

a)All farmers other than marginal farmers:

 For first year: farmers raising single crop in a year(scale of finance*area cultivated +10%
of limit towards post-harvest/house hold/consumption needs+ 20% of limit towards
repairs and maintenance expenses of farm assets + crop insurance, PAIS and asset
insurance.

For subsequent years: First year limit plus 10% of the limit towards cost
escalation/increase in scale of finance for every successive year and estimated term loan
for the tenure of kisan credit card.

In case revision of scale of finance for any year by the DLTC exceeds the notional hike of 10%, a
revised drawable limit may be fixed and the farmer is advised about the same.

Term loans Investments

Term Loan is provided towards investment in land development, minor irrigation, purchase of
farm equipments and allied agricultural activities. The quantum of credit for term and working
capital limit for agricultural and allied activities, etc., is worked out based on the unit cost of the
asset/s proposed to be acquired by the farmer, the allied activities already being undertaken on
the farm, and on repayment capacity vis-a-vis total loan burden devolving on the farmer,
including existing loan obligations

The long term loan limit is based on the proposed investments during the five year period and the
banks perception on the repaying capacity of the farmer

Maximum Permissible Limit:

The short term loan limit arrived for the 5th year plus the estimated long term loan requirement
will be the Maximum Permissible Limit (MPL) and treated as the Kisan Credit Card Limit.

Fixation of Sub-limits
The card limit is bifurcated into separate sub limits for short term cash credit limit cum savings
account and term loans, due to difference in interest rates, repayment schedule and norms.

B) For Marginal Farmers:

A flexible limit of Rs.10,000 to Rs.50,000 be provided (as Flexi KCC) based on the land holding
and crops grown including post harvest warehouse storage related credit needs and other farm
expenses, consumption needs, etc., plus small term loan investments like purchase of farm
equipments, establishing mini dairy/backyard poultry as per assessment of Branch Manager
without relating it to the value of land. The composite KCC limit is to be fixed for a period of
five years on this basis.

Disbursement :

The short term component of the KCC limit is in the nature of revolving cash credit
facility.

There is no restriction in number of debits and credits.

The drawing limit for the current season/year could be allowed to be drawn using any of
the following delivery channels e.g. Operations through branch, using Cheque facility ,
Withdrawal through ATM enabled KCC, Operations through Business Correspondents,
Operation through PoS available in Sugar Mills/ Contract farming companies, input
dealers, Mobile based transfer transactions at agricultural input dealers and mandies etc.

Issuance of ATM enabled Rupay card to eligible farmers.

Rate of interest:

ROI will be linked to Base rate. However, if Government supported interest subvention is
provided for any component of the limit, the rate of interest may be fixed accordingly

Repayment Period:
 The repayment period may be fixed as per anticipated harvesting and marketing period
for the crops for which loan is granted.

The term loan component will be normally repayable within a period of 5 years depending on the
type of activity / investment as per the existing guidelines applicable for investment credit.

. Margin:

For crop loans, no separate margin. For term loan component, margin will be:
Upto Rs 1.00 lac - NIL
Above Rs 1.00 lac - 15%

. Security:

Up to Rs.1.00 lac- Hypothecation of crops

lacs, mortgage of land and/or third party guarantee in addition to hypothecated

crops/assets.

In states where banks have the facility of online creation of charge on the land records, the same
shall be ensured.

. Documentation:

The scheme provides fixation of scale of Finance for the first year and subsequent
increase for every successive year. Therefore documentation will be done by the Bank
only for maximum limit so that there is no need of documentation during the validity of
account.

Where the validity period of KCC is 5 years, there might be a legal requirement to renew the
account by taking a fresh letter from the farmer before expiry of 3 years.
4.2: ORGANIZATIONAL CHART OF THE UNION BANK OF INDIA:
Org chart & enterprise lending :
Org chart & enterprise lending

By creatly templates

A colorful org chart example showing the clear reporting.

Tagged:- org chart, organization,

CHAPTER-5: CONCLUSION & SUGGESTIONS

Union Bank of India is a prominent public sector bank. It does a wonderful service in
development banking in enhancing the growth of the country. It bags SKOCH ORDER-OF-
MERIT award for Financial Inclusion Technology in Skoch Financial Inclusion & Deepening
Award Conference held on 11th June 2015 at Mumbai, Maharastra. Bank bags this award for
implementing various Technology initiatives to support all government schemes covered under
the ambit of Financial Inclusion.

Initiatives include FI Gateway, Centralized Bio-metric Authentication System, AADHAAR

Enabled Payment System, AADHAAR Payment Bridge System, Kiosk Banking Application,
Demographic verification of AADHAAR holders & AADHAAR seeding, Direct Benefit
Transfer Scheme and eKYC based account opening. Union Bank of India bags the Express
Uptime Champion Award 2014 for its Network perations. It won 6 IBA (Indian Bank
Association) Technology Awards Union Bank of India bags Financial Inclusion Technology
Initiative award in the Global Conference on Financial Inclusion & Payment Systems.

Union Bank bags First prize under RBI Rajbhasha Shield and Second prize under Bilingual
House Journal Competition from Reserve Bank of India. 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.

The 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. It 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 in Asia-Pacific Region in 2009. The Bank was
ranked at No. 3 amongst banks in India. Its financial records shows that its performance
excellence is consistent. It can be a winner in all the activities of development, financial
inclusion and in avoiding regional imbalances. Its transparent activities show that it can sustain
in any economic challenges in the country or in the world.
CHAPTER 6: BIBLIOGRAPHY

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