UBL Sales Ltd, a wholly-owned subsidiary of UTI Bank Ltd, entered Rajasthan by opening its branch in Jaipur. Currently, UBL Sales has branches in Bangalore, Hyderabad, Indore and Ahmedabad. | |
| All of these were inaugurated last week. Sanjay Silas, managing director of the subsidiary company, inaugurated the Jaipur branch. |
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| UBL Sales will market the financial asset products such as retail loans and credit cards of UTI Bank. UBL Sales will launch operations at 42 locations across the country by March next year and will hire around 3,500 sales staff for marketing the financial asset products of UTI Bank. |
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| The subsidiary company will set up an effective sales model that will attract better quality of sales personnel, optimise sales force productivity and provide better control and monitoring of the sales effort vis-à-vis the prevailing DSA model. |
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| Speaking on the occasion, Sanjay Silas said, "The objective of the company will be to build competitive advantage in the marketing of credit cards and retail loans through skilled and trained manpower, speedy geographical reach covering high potential and less serviced centres, specialised business processes to build efficiencies and adopting best practices and benchmarking with the relevant markets." |
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| Enormous growth in retail and consumer lending in India coupled with the rising incomes of middle-class and affluent segments offers huge opportunities in the retail-financing segment. |
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| UTI Bank, through its subsidiary, will offer various retail asset products including its recently launched credit card to its existing retail customer-base and tap new customers. |
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| Umesh Arora, UTI Bank's cluster Head (Delhi), said, "With the launch of UBL Sales at Jaipur, UTI Bank will be able to increase its reach in the city and tap effectively the potential business opportunities available here." |
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| UTI Bank Vice-President & Branch Head (Jaipur) NM Raja was also present on this occasion. He said the bank should extend full support to its subsidiary for meeting the business challenges and exploring new geographical avenues in the city. |
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| Manoj Dixit, branch head (Tilak Nagar), said it would give employment opportunities to aspiring sales people in Jaipur. |
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