Union Bank of India is betting on retail loan to strengthen its presence in the east.
It plans to give Rs 120 crore as loan through its retail asset branches this fiscal, against Rs 16 crore last fiscal in the eastern region.
Speaking at a press conference to launch the bank's new logo, S L Bansal, general manger, Union Bank of India, informed that this fiscal the bank aimed to open four new retail asset branches, which caters exclusively to retail customers seeking loans, in the east.
At present the retail asset branches are operational in Kolkata, Patna and Ranchi.
The new branches will come up in Bhubaneswar, Guwahati, Kolkata and in Jharkhand.
Meanwhile, the bank has applied for ten overseas branches with the Reserve Bank of India this fiscal.
