UBI gives exposure to rural banking

United Bank of India (UBI) has given more importance to rural banking in Jharkhand. It has spread its banking business through a network of 70 branches spread over all district headquarters and rural and semi-urban areas.

Chief regional manager (CRM), UBI, Umesh Kumar Roy told Business Standard that during financial year 2011-12, Jharkhand region of UBI performed quite well in line with corporate performance. The deposit growth was 25.52 per cent in the financial year 2011-12. The credit potential in Jharkhand lies in agriculture and MSME sector.

CRM said Jharkhand circle has shown impressive growth (36 per cent) in priority sector. The corresponding growth in agriculture was 55 per cent and in MSME 26 per cent.

He said the growth in agriculture was mainly directed towards issuance of Kisan Credit Card to small and marginal farmers and farm equipments. During 2011-12 ,UBI provided credit support to additional 10,770 farmers. UBI’s Hatia branch, in the state capital, has marginally reduced its non-performing assets (NPA). Chief manager, Pramod Kumar Rout said that in the financial year 2010-11, the NPA in the branch had been Rs 1.36 crore that reduced to Rs 1.06 crore in 2011-12. The deposit growth has been 59 per cent over corresponding period of last financial year, he added.