Business   

UCO bank introduces retail loan shoppe

BANGALORE: Kolkata-based United Commercial Bank (UCO) on Friday launched its retail loan shoppe here with a target of Rs. 100 crore business annually from 40 branches in and around Bangalore.

The facility will be extended to other regions soon.

Speaking to presspersons on the sidelines of the launch programme, General Manager S. K. Das said the bank had opened two different channels comprising a network of 20 branches in Bangalore. The network was managed by the “lending automation and purchase system”. The shoppe would offer automobiles, consumer goods, education and personal loans.

Mr. Das said the bank had been selected for a national award for its performance in agriculture and small and medium enterprises sectors.

The award will be presented by Prime Minister Manmohan Singh in New Delhi on August 30. On this occasion, the bank will launch “Pre-Funded Cheques”, which act as a multi-function instrument.

It can be travellers’ cheque and self drawn demand draft.

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

Selling iPhone not a cakewalk
Customers to get interest on inoperative accounts
‘Cut steel prices if rates fall globally’
Bajaj Allianz launches Insta insurance product
UCO bank introduces retail loan shoppe
Sensex recovers 158 points
Exchange Rates
Bullion Rates
GE Healthcare, Gujarat government sign MoU
German firm to invest euro 200 m in Phoenix Mills
Wipro, Cargotec sign partnership agreement
ING Vysya launches priority banking service
Infotech starts operations in Japan
Tulsyan NEC signs MoU with Budhrani group
Aptech ties up with Italian company
India included in Iodine network
Eicher, Volvo finalise deal
Banks may incur loan losses with IFRS: KPMG

Copyright © 2008, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu