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Union Bank of India launches 25 next-generation MSME branches, bringing total to 50 locations across India

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Union Bank of India launches 25 next-generation MSME branches, bringing total to 50 locations across India

Posted on March 23, 2022

  • Union MSME First (UMFB) branches will now be present at 50 locations in the country
  • Focusing only on MSME clients, these branches will enable fast processing and better service of its MSME client Needs

Union Bank of India has launched another set of MSME-focused next-generation branches, namely Union MSME First Branches (UMFBs) in 25 locations across the country, bringing the total of UMFBs to 50 locations nationwide. ‘India.

The branches were inaugurated by Shri Nidhu Saxena, Executive Director of the bank during a virtual event held on Tuesday.

The Bank had previously launched 25 MSME-focused branches, which improved the customer experience and the amount of business generated.

The new branches have been identified on the basis of geo-analyzes, discussions on the ground and are located near clusters of SMEs to allow easy access to its customers. In line with its aspiration to deliver maximum value and a quick turnaround time to its SME customers, branches will have relationship managers and dedicated product teams to provide all the products such as loans to MSMEs, deposits, currency exchange, LC / BG, credit cards, insurance products, etc. under the same roof.

The initiative is a continuation of the bank’s focus on the MSME segment, which is a strong pillar of the Indian economy.