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Union Bank to hire 5,000, add to branch network
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Union Bank to hire 5,000, add to branch network
24 Dec 2008 Delhi: State-run Union Bank of India (UBI) plans to hire about 5,000 employees including 300 specialist officers for the micro, small and
medium enterprises (MSME) and 2,500 probationary officers. The process will start in 2009, an official in the company said.
The bank will also add over 400 new branches by the end of the current fiscal. UBI plans to open 175 specialised branches exclusively for the MSME sector. Out of these, 75 would be exclusive for the small and medium business.
“They are meant for customers in this segment with limits up to Rs 35 crore or having a turnover less than Rs 1,000 crore,” UBI field general manager north zone A K Bansal told reporters.
The bank expects its advances to the MSME sector to grow at 30%. MSMEs constitute 16% of the banks total advances and UBI plans to take it to 20%.
UBI has tied-up with Small Industries Development Bank of India (SIDBI) for identifying and financing working capital component for those MSMEs where term finance has been extended by SIDBI.
Source:
http://economictimes.indiatimes.com/articleshow/3882822.cms
medium enterprises (MSME) and 2,500 probationary officers. The process will start in 2009, an official in the company said.
The bank will also add over 400 new branches by the end of the current fiscal. UBI plans to open 175 specialised branches exclusively for the MSME sector. Out of these, 75 would be exclusive for the small and medium business.
“They are meant for customers in this segment with limits up to Rs 35 crore or having a turnover less than Rs 1,000 crore,” UBI field general manager north zone A K Bansal told reporters.
The bank expects its advances to the MSME sector to grow at 30%. MSMEs constitute 16% of the banks total advances and UBI plans to take it to 20%.
UBI has tied-up with Small Industries Development Bank of India (SIDBI) for identifying and financing working capital component for those MSMEs where term finance has been extended by SIDBI.
Source:
http://economictimes.indiatimes.com/articleshow/3882822.cms
