UBI MD attends business meet

GUWAHATI, Feb 5: A business development meet of the Branch Magers of United Bank of India, Guwahati Region was held on February 3 in the city which was attended by UBI MD & CEO Pawan Bajaj.In his deliberation, Bajaj talked about the banking scerio of the country as a whole and the United Bank of India in particular, when most of the banks in India are under statutory restrictions like PCA imposed by the Reserve Bank of India. He said the need of the hour is to focus on recovery of bad loans, classified under NPA and shadow category, and augmenting flow of credit to the MSME, agriculture and retail credit sector for the development of the economy and employment generation.

The branches under the Guwahati Region have targeted recovery of Rs 8 crore from NPA accounts and Rs 2 crore from shadow accounts during February and March by giving publicity of the liberal One Time Settlement scheme of the Bank. Further, fresh credit to MSME sector is expected to increase by Rs 30 crore and retail credit by Rs 25 crore covering approximately 300 and 200 beneficiaries respectively during the period. The bank also plans to increase its non-interest income by selling third party products like Life Insurance and General Insurance policies. This was stated in a press release.

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