UBI launches debt waiver scheme

UBI launches debt waiver scheme
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First Published: Sun, Jun 08 2008. 02 31 PM IST
Updated: Sun, Jun 08 2008. 02 31 PM IST
PTI
Guwahati: The United Bank of India has launched its agriculture debt waiver and debt relief scheme in the north eastern States.
UBI executive director T M Bhasin said the bank, sponsor of three regional rural banks (RRB), told reporters here last night that errors of inclusion and exclusion in the eligible borrowers list should be avoided to make the exercise of debt waiver and relief a total success.
The bank has 249 branches in the North East region with 174 alone in Assam and collectively handles business of Rs7420 crore, comprising Rs5,528 crore deposits and Rs1,892 loans and advances.
The bank, he said, had witnessed a significant growth of 102% in total business from Rs37,187 crore on March 2005 to Rs75,123 crore this year.
UBI has been paying dividend to the centre for the past three years with this year’s amount being Rs46 crore. The banks business per branch has been improving over the years, while it has rolled out core banking solution at 442 branches, Bhasin said.
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First Published: Sun, Jun 08 2008. 02 31 PM IST