UBI mulls special loan offers for start-ups, brainstorms on $5-trn GDP goal

The PSB has organised a meeting of all branch heads wherein collective consultative and ideation process was undertaken to align banking with national priorities

Union Bank of India on Saturday said it would come up with lending products specifically for start-ups.

“Currently there are no products to address their (start-ups’) long gestation period… Start-ups do no generally create cash flow immediately and, hence, specific products need to be designed for them,” Union Bank of India Managing Director & Chief Executive Officer Rajkiran Rai G said on Saturday.

The public sector bank organised a consultative meeting of all branch heads at the regional level to align banking services with national priorities.

The finance ministry had asked the state-run banks to initiate a month-long consultation process with officers starting