Fwd: Local Release.........1

---------- Forwarded message ----------
From: Press Information Bureau Ministry of I&B <pib.kolkata@gmail.com>
Date: Tue, Aug 24, 2010 at 3:54 PM
Subject: Local Release.........1

Press Information Bureau

Government of India

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UBI  MoU

Kolkata: Tuesday, August 24, 2010.

 

United Bank of India has entered into a Memorandum of Understanding (MOU) with Ashok Leyland Ltd., a leading manufacturer of Commercial Vehicles of the country. According to the terms of the MOU, United Bank of India will extend finance to the eligible customers of Ashok Leyland Ltd. for procuring different kinds of commercial vehicles being manufactured by the Company.

 

Speaking on the occasion, Shri Bhaskar Sen, Chairman & Managing Director, United Bank of India expressed hope that the MOU will facilitate Bank to increase its exposure to MSME sector substantially in the Eastern and North Eastern parts of the country where 82% of the total branches of the Bank are located. In the last year (2009-10) the growth of the Bank under MSME sector was also at a comfortable level of 74%. Shri Sen also mentioned that Ministry of MSME, Govt. of India has Selected United Bank of India for MSME National Award –2010 for both Eastern and North Eastern zones for its outstanding performance under PMEGP. The Transport sector being an important segment of MSME sector, with this MOU, the Bank will be able to intensify its growth in MSME sector further during the current year and the years to come also. The MOU will cover all the branches of the Bank located all over the country aiming for aggressive growth in the MSME sector.

 

Shri P.K. Roy, General Manager- (Priority Sector & Financial Inclusion), United Bank of India and Shri K Sridharan, Chief Financial Officer of Ashok Leyland Ltd signed the MOU on behalf of their respective organizations.

 

ah/dk/kol/15:52 hrs.

 

--
Palash Biswas
Pl Read:
http://nandigramunited-banga.blogspot.com/