Press Release
Date: 3rd January 2010
Union FM, Shri Pranab Mukherjee, inaugurates Palsanda & Malancha branch of
United Bank of India
In the well-attended function on the occasion of inauguration of Palsanda & Malancha branch and Credit Delivery Camp at Palsanda ,organized by United Bank of India today, at Palsanda in Murshidabad District, Shri Pranab Mukherjee, the Hon'ble Union Finance Minister disbursed loans to the beneficiaries under KCC, DRI & MSE schemes. The beneficiaries included those from Small & Marginal Farmers, Minority, Women, Physically Challenged and Distressed Women & SC/STs.
Speaking on the occasion, Shri Mukherjee appreciated the efforts of United Bank of India in accelerating the flow of credit to different priority areas of the government as well as opening of bank branches in unbanked rural areas. Agriculture being main stay of rural economy, he desired that more bank finance should flow to the sector and expressed his happiness over the efforts of United Bank of India by providing financial assistance to poor beneficiaries under KCC & DRI at the Camp. MSE being a key driver of the economic growth of the country, also deserves adequate flow of bank credit and towards this end, he appreciated that the bank has also disbursed loans to this sector during the Camps. Shri Mukherjee, in his speech, appealed to the borrowers for timely repayment of bank loans so that banks can recycle the funds for further productive purposes. He appreciated United Bank of India for opening the first floating mobile branch in Sunderban and the lead taken by the bank for opening its first RRB in West Bengal, the erstwhile Gaur Gramin Bank, covering the districts of Malda and Murshidabad. He complimented the good efforts of the workforce of the bank for achieving 100% CBS.
Shri S.C. Gupta, Chairman & Managing Director welcomed the Hon'ble Union Finance Minister and other respectable public representatives, dignitaries and peoples of the locality in the inaugural ceremony of Palsanda & Malancha branch and Credit Delivery Camp at Palsanda.
Shri T.M. Bhasin, Executive Director, presented vote of thanks to all the dignitaries.
Disclaimer:
“The Bank proposes, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed a Draft Red Herring Prospectus (“DRHP”) with the Securities and Exchange Board of India (“SEBI”). The DRHP is available on the website of SEBI at www.sebi.gov.in as well as on the websites of the book running lead managers at www.sbicaps.com; www.edelcap.com; and www.enam.com.
Any potential investor should note that investment in equity shares involves a high degree of risk. For details, potential investors should refer to the section titled “Risk Factors” of the aforementioned DRHP.”
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