Mumbai : Union Bank of India launched another set of its next-gen MSME focused branches i.e., Union MSME First Branches (UMFB’s) at 25 locations across the country, taking the total of UMFB’s to 50 locations pan India.
The branches were inaugurated by Shri Nidhu Saxena, Executive Director of the bank at a virtual event held this Tuesday.
The Bank had earlier launched 25 such MSME focused branches which resulted in enhanced customer experience and quantity of business generated.
The new branch locations were identified based on geo-analytics, field discussions and are located close to SME clusters to enable easy access for its clients. In keeping with its aspiration of delivering maximum value & fast turn-around time to its SME customers, the branches will have dedicated relationship managers & product teams who will provide all products like MSME Loans, deposits, forex services, LC/BG, credit cards, insurance products etc. under one roof.
The initiative is an extension of the bank’s strong focus on the MSME segment which is a strong pillar of the Indian economy.