From left: Mr Yokeshraj Venkat – Director of La Freightlift, Mr Venkat A – Chief Guest (Founder/Managing Director of La Freightlift), Mr Vangala Srinivas (DGM of Union Bank of India), Mr Padmanaban (GM of Union Bank of India), Mr B P Daas (DGM of Union Bank of India), Mr Pulla Rao (DGM of Union Bank of India) and other officials.

The Union Bank of India(UBI) has launched one of the biggest ceremonies for the introduction of new banking schemes in Chennai, Tamil Nadu to help people achieve their interests more easily and quickly. The Smart Save option was announced to help customers maximise their interest savings without sacrificing their financial liquidity. Excessive funds will therefore help to reduce outstanding loans and lower interest rates.

This ceremony took place on 6th March 2021 with the La Freightlift Founder/Managing Director, Venkat A, as Chief Guest. He went on to say that Union Bank is a trustworthy bank as it is owned by the Indian government and he added that this bank has recently granted loans to small sized vendors through various camps in different cities of Telangana with Sanjay Kumar, Joint Secretary of the Ministry of Housing and Urban Affairs as Chief Guest. People and SMEs are also benefited by the new schemes and packages.

Sources from the higher official conveys that Union Bank maintained that each individual could restructure their loans by visiting the website of the bank or by approaching the bank branch directly (One needs to check the eligibility as per the rules of the Resolution under this framework). Union Bank of India(UBI) has been selected by Government of India as Anchor Bank for the amalgamation of Andhra Bank, Corporation Bank into Union Bank of India, which came into effect on 1 April 2020. The combined entity becomes the fourth largest bank in terms of branch network.   Following the merger, UBI now has approximately 9500 branches.