GUWAHATI, Jan 13 – To reach out to more areas in the North East, United Bank of India (UBI) is planning to open at least 20 new branches in the region. The bank is also planning to infuse additional doses of credit into agriculture and small and medium enterprises (SMEs) in the region. Talking to The Assam Tribune here today, UBI Chairman SC Gupta said that since UBI has a strong presence in the region, the bank has identified some core areas for development. “As part of our plan, we have decided to enhance our credit flow to agriculture and SME sectors,” he said.
Providing more information in this regard, the Chairman informed that in 2008 (up to December), the credit flow to the agriculture sector stood at Rs 392 crore, registering a growth of over 22 per cent, and considering the potential in SME sector, the bank was planning to provide sufficient credit to boost the industry.
In this context, Gupta said that UBI is committed to uplifting the economy in the region by way of smooth flow of credit so that the North East is immensely benefited. “Realty and power sectors are also some productive areas in which we want to focus on and we are ready to extend all possible help to any viable project in the North East,” he added.
Replying to a question on the Indian banking sector in the backdrop of global financial turmoil, he observed that the banks are still insulated from the crisis. “The Indian banks have sufficient liquidity to cope with the situation and the support extended by the Government,” Gupta added.
The UBI Chairman also held a meeting with the officials to review the ongoing schemes in the North East. UBI has also decided to open more ATMs in order to provide better service to the customers.
UBI has taken a slew of measures to increase the credit deposit ratio (CDR) in the North East. It has also increased the retail credit from Rs 685 crore ( Dec 2007) to Rs 784 crore. Moreover, the bank has successfully implemented financial inclusion products including United Basic Savings, United Bhumiheen Credit Card and United Gramin Sahaj Credit Card.