UCO Bank’s ED, Vijaykumar Nivrutti Kamble visits Itanagar, reviews banking operations and growth plans

ITANAGAR: The Executive Director of UCO Bank, Vijaykumar Nivrutti Kamble, arrived in Itanagar on April 20 to participate in the meeting of the Parliamentary Committee during its study visit to Itanagar. While participating in various important meetings, he discussed UCO Bank's contribution towards the development of the State of Arunachal Pradesh and the necessary measures required to further strengthen and streamline banking services in the State.

All the Branches under Jorhat Zone were addressed through the online mode. The Executive Director stated that UCO Bank has made several modifications to its products in line with the needs of customers so that loans can be made easily available to the needy. At present, the Bank's total business has reached Rs 5.89 Lakh Crore, which includes advances of Rs 2.62 Lakh Crore and deposits of Rs 3.27 Lakh Crore. A target has been set to increase this to Rs 7.00 Lakh Crore in the current financial year. All were apprised of the measures to be undertaken to achieve the banking business targets. Along with business growth, all branches were instructed to place emphasis on compliance and credit monitoring. To help NPA account holders to settle their NPA accounts, the Bank will motivate the maximum number of eligible defaulters under the Lakshya Rin Mukti Scheme. UCO Bank is providing Housing Loan and Car Loan at the lowest and most competitive rate which is 7.15% * and 7.45% * respectively. Our Bank is also extending priority based credit to the Agriculture and MSME sectors in order to create maximum employment opportunities. He informed that UCO Bank is presently offering an interest rate of 6.45% under the UCO 444 (Term Deposit) scheme, with an additional 0.50% interest rate for senior citizens. To promote the MSME sector, a new loan scheme, UCO Abhinandan, has been launched with the objective of providing loans to new customers at minimum interest rates. No processing fee is charged under this scheme. To bring speed and efficiency in loan sanction and disbursement, several loan schemes such as UCO Pension, Kisan Credit Card renewal, Education Loan, Suryodaya Loan, Gold Loan, Car Loan, Loans against Term deposits, Mudra Loan, UCO GST Smart, renewal of Cash Credit, PM Vishwakarma, SHG Loans, etc., are being provided through the STP (online) mode.

This information was stated in a press release.

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