Union Bank to further expand in Andhra villages

Union Depository Financial Institution of India, as portion of its concern edifice initiatives, is looking to spread out the 'Banking Habit Villages' programme in Andhra Pradesh.

"The thought is to guarantee that all households in a small town have got a depository financial institution business relationship and entree to our assorted services. For this, the depository financial institution is deputing field staff and providing business office space with Internet and other installations at its rural branches," Degree Centigrade Abraham, bank's regional manager, said.

The undertaking have already been implemented in over 240 small towns in the state and programs are on to widen it to other areas. The depository financial institution would carry on a study of a peculiar part for assessing the banking necessitates of the people and would also work with self-help groupings to place the people, understand their earning and disbursement forms to invent services and merchandises that lawsuit them.

Under this project, the depository financial institution supplies a smart card apart from gap a nest egg account. The smart card can be used for accessing pensions, claiming reward under the National Rural Employment Guarantee Scheme and other societal security programmes. So far, it have issued about 6,000 smart card game in assorted districts. It will publish another 150,000 card game shortly in Warangal, Karimnagar, Medak, Mahboobnagar, Chittoor and East Godavari districts. "The smart card can be used at the local grocery store supplies too," said Abraham.

The depository financial institution have also initiated Village Cognition Centres to leave cognition to husbandmen on the new developments in cultivation and harvest, right usage of fertilizers and pesticides for better output and higher income. So far, there are 14 such as Centres in the state and this would be increased in the current fiscal year.

On Friday, the depository financial institution launched its contrary mortgage strategy across the state and is working to open up its abroad subdivision in Hong Kong shortly. It would also establish Union M-Pay for transportation of finances through mobile this calendar month besides adding another 50 subdivisions to the present 156 in the state, he said.