Union Bank of India

INTRODUCTION:

Type Industry

Public (BSE: 532477) Financial Commercial banks

branches = 2531 Headquarters Mumbai, India Mavila Vishwanathan Nair Key people (Chairman & MD) Revenue 18,491.40 crore (US$4.12 billion) (2011)[1] Net income 2,081.95 crore (US$464.27 million) (2011) Employees 27,772 (2010) Website www.unionbankofindia.co.in Union Bank of India (UBI) (BSE: 532477) is one of India's largest state-owned banks (the government owns 55.43% of its share capital), is listed on the Forbes 2000. It has assets of USD 13.45 billion and all the bank's branches have been networked with its 1135 ATMs. Its online Telebanking facility are available to all its Core Banking Customers - individual as well as corporate. It has representative offices in Abu Dhabi, United Arab Emirates, and Shanghai, Peoples Republic of China, and a branch in Hong Kong.

History
Union Bank of India (UBI) was registered on 11 November 1919 as a limited company in Mumbai and was inaugurated by Mahatma Gandhi. At the time of India's Independence in 1947, UBI still only had four branches - three in Mumbai and one in Saurashtra, all concentrated in key trade centres. After Independence UBI accelerated its growth and by the time the government nationalized it in 1969, it had grown to 240 branches in 28 states. Shortly after nationalization, UBI merged in Belgaum Bank, a private sector bank established in 1930 that had itself merged in a bank in 1964, the Shri Jadeya Shankarling Bank. Then in 1985 UBI merged in Miraj State Bank, which had been established in 1929. In 1999 the Reserve Bank of India requested that UBI acquire Sikkim Bank in a rescue after extensive irregularities had been discovered at the non-scheduled bank. Sikkim Bank had eight branches located in the North-east, which was attractive to UBI.

UBI began its international expansion in 2007 with the opening of representative offices in Abu Dhabi, United Arab Emirates, and Shanghai, Peoples Republic of China. The next year, UBI established a branch in Hong Kong, its first branch outside India. In 2009, UBI opened a representative office in Sydney, Australia. PREVIOUS YEARS: CSR activities:
Previous year's CSR activities & rating: www.karmayog.org/csr500companies/csr500companies_8629.htm

Rural Development and Self Employment Training Institute (RUDSETI)Established two RUDSETIs in our Lead Districts of Ernakulam and Varanasi and a Rural Development Foundation at Alibaug, Maharashtra, with the objective of training youth in rural and semi-urban areas to take up self-employment ventures, to conduct various vocational and human resource development training programmes, to provide consultancy services etc. Formation of Farmers' Clubs: Encouraging formation of Farmers Clubs in villages catered by our rural branches Introduction of Village Knowledge Centres:For the overall development of agricultural sector, Bank has introduced the innovative concept of "Village Knowledge Centres" for benefit of the farming community. These centres act as core centres for rural development activities and impart knowledge to the farmers about new developments in methods of cultivation/ technologies, proper use of fertilizers, pesticides etc. for better yield and higher income. Weather report and agro-climatic conditions, latest information on price of inputs and agriculture produce are also made available to the farmers. At these centres, farmers, landless labourers and other artisans are encouraged for formation of Self Help Groups, Farmers clubs etc. 100% Banking Habit Villages :Initiated the exercise of bringing maximum villages in each Region as 100% Banking Habit Villages" to provide banking services to each and every household. NEW INITIATIVES:
CSR activities:

www.karmayog.org/csr501to1000/csr501to1000_22034.htm Rural Development and Self Employment Training Institute (RUDSETI) Established two RUDSETIs in our Lead Districts of Ernakulam and Varanasi and a Rural Development Foundation at Alibaug, Maharashtra, with the objective of training youth in rural and semi-urban areas to take up self-employment ventures, to conduct various vocational and human resource development training programmes, to provide consultancy services etc. Formation of Farmers' Clubs Encouraging formation of Farmers Clubs in villages catered by our rural branches. Introduction of Village Knowledge Centres

For the overall development of agricultural sector, Bank has introduced the innovative concept of "Village Knowledge Centres" for benefit of the farming community. These centres act as core centres for rural development activities and impart knowledge to the farmers about new developments in methods of cultivation/ technologies, proper use of fertilizers, pesticides etc. for better yield and higher income. Weather report and agro-climatic conditions, latest information on price of inputs and agriculture produce are also made available to the farmers. At these centres, farmers, landless labourers and other artisans are encouraged for formation of Self Help Groups, Farmers clubs etc. 100% Banking Habit Villages Initiated the exercise of bringing maximum villages in each Region as 100% Banking Habit Villages" to provide banking services to each and every household. Bhumiheen Green Card Introduced the scheme of "Bhumiheen Green Card" to provide easy credit facilities to tenant farmers, oral lessees, sharecroppers, landless labourers and their Joint Liability Groups/SHGs etc. This scheme will benefit those farmers who are unable to give any tangible security. Joint Liability Groups To inculcate the habit of group based financing, to tenant farmers, share croppers, oral lessees, farmers with small land holding without proper title of Agriculture land, our Bank has introduced the mechanism of Joint Liability Groups (JLGs). "No Frills" Account "No Frills" Account scheme has been introduced to bring the down trodden and poverty ridden masses which have been socially and financially excluded so far from the main stream. "Union Mitr" As part of our initiatives and corporate social responsibility to create financial awareness we have launched "Union Mitr" to provide financial education services and debt counselling to all strata of the society especially the rural population, free of cost. Initially "Union Mitr" has been established at 51 Village Knowledge Centres in rural areas and will subsequently be rolled over to other areas of the country. Corporate Social Responsibility 17.1 Your Bank is committed to its role as a responsible corporate citizen by adopting ethical business practices and contributes to economic development beyond its statutory obligation. The Bank fully realizes its social responsibility to improve the quality of life of the local community and society at large. The Bank has now moved a step ahead in this direction. In order to pay a focused attention, the Board of the Bank has decided to set apart 1% of its annual public profits to undertake Corporate Social Responsibility Activities through its trust named Union Bank Social Foundation. 17.2 The trust would provide for infrastructure facilities in rural areas and committed to undertaking one major project in each of the 13 lead districts across the country, namely, Ernakulam and Idukki in Kerala, Varanasi, Ghazipur, Jaunpur, Azamgarh,Chandauli, Bhadohi and Mau in U.P., Rewa and Sidhi in M.P. and Samasthipur and Khagaria in Bihar. 17.3 The Bank has established Village Knowledge Centres (VKCs) in nearly 200 villages across the country, which provides knowledge dissemination and extension services to the rural community helping them in improving their productivity. These VKCs are non-profit entities, fully funded by the bank. The Bank has also established two Rural Development and Selfemployment activities in Perambavur (Kerala) and Varanasi (U.P) funded jointly by the Bank, NABARD and respective State Governments.

OTHER SCHEMES Interest Subsidy Scheme of Ministry of New and Renewable Energy (MNRE) for purchase of Solar Water Heaters.

Keeping in view the potential benefit to the national energy, economy and to promote large scale utilization of Solar Water Heaters in the country, the MNRE is operating an Interest Subsidy Scheme on Solar Water Heating Systems through Indian Renewable Energy Development Agency (IREDA) and designated Commercial Banks and other Financial Institutions since 1996.

Swarna Jayanti Gram Swarozgar Yojana (SGSY) The scheme has been launched w.e.f. 01.04.1999 as an integrated programme to bring every assisted rural family above the poverty line. Subsidy is available upto 30% of project cost subject to maximum Rs.7500/-. For SC/ST 50% of the project cost maximum Rs.10,000/- and for SHGs 50% or maximum Rs.1.25 lacs. ...................................................... Differential Rate of Interest (DRI) The objective is for upliftment of weaker sections of the society by providing easy credit at cheaper rate of interest. Loan amount is maximum Rs.15000/- and Rs 20000/- for housing loan at 4% p.a. for individuals. .................................................... Prime Minister's Rojgar Yojana (PMRY) This scheme was launched by Government of India in October 1993 with the objective of providing employment to educated unemployed youth for setting up micro enterprises. Maximum project cost of Rs.2.00 lac for business sector and Rs.5.00 lacs for industry sector of composite nature are permitted. In case of partnership firm projects upto Rs.10.00 lacs are also considered subject to prescribed share of each borrower. Subsidy is 15% of the project cost maximum upto Rs.7500/- per entrepreneur. For North Eastern States, H.P., J & K, Uttaranchal subsidy will be maximum Rs.15,000/-. SHGs can also be considered for financing under this scheme provided all members satisfy the eligibility norms. ...................................................... Scheme for Liberation & Rehabilitation of Scavengers (SLRS) The scheme aims to provide alternate employment to scavengers and their dependents with a maximum unit cost of Rs.50,000/-. Subsidy is available at 50% of project cost maximum Rs.10,000/- at interest rate of 4% p.a. for loans upto Rs.15000/- and at prescribed rates of the Bank for loans above Rs.15000/-. ...................................................... Swarna Jayanti Shahari Rojgar Yojana (SJSRY)

This scheme seeks to provide gainful employment to the urban poor (living below the urban poverty line) who are unemployed or underemployed, through setting of self employment ventures or provision of wage employment. Maximum project cost is Rs.50,000/- and subsidy is available at 15% of project cost subject to maximum of Rs.7500/-. Joint ventures are also permitted. In the case of group project of women subsidy of Rs.1.25 lacs maximum is available subject to 50% of project cost.

CSR 2010 Details of Union Bank of India Ltd., Mumbai, Maharashtra Union Bank of India Ltd. - Corporate Social Responsibility Activities are as follows
Company Profile

Company's Building Confidence through Consistent Performance..Year After Year. Slogan Good people to bank with. To become the Bank of first choice in our chosen areas by building Company's beneficial and lasting relationship with customers through the process of Vision Continuous improvement. Company's Our corporate mission to gain market recognition in chosen areas by Mission building effective strategies. Special Notes Company Public Sector Type Industry Banking Sector Products / 1. Financial Services Services No. of 29419 employees Other locations of Offices and Branches across India. Overseas Offices in Hong Kong, factories / Abu Dhabi, Shanghai, Beijing, Sydney & London offices Financial April 2009 - March 2010 result for time period - Sales Rs. 15277 Crores - Profit Rs. 2075 Crores before tax - Net profit Rs. 2075 Crores after tax - CSR Not Disclosed Budget Nil Remuneration of MD/CEO
CSR Activities

Trust / Foundation Union Bank Social Foundation for CSR CSR Areas 1. Community Welfare 2. Education 3. Healthcare 4. Physically Challenged