United Commercial Bank (UCO) the Kolkata-based bank has opened its retail loan shoppe in Bangalore with an aim to achieve a target of Rs 100 crore businesses annually from its 40 branches in and around Bangalore.
Bank sources informed that soon the facility will be extended to other regions.
Addressing to presspersons on the sidelines of the launch program, General Manager S. K. Das informed that the bank has opened two different channels having a network of 20 branches in Bangalore. The network will be managed by the “lending automation and purchase system”. Through shoppe bank will be offering automobiles, consumer goods, education and personal loans.
Mr. Das told presspersons that the bank has been selected for a national award for its performance in agriculture and small and medium enterprises sectors. The award will be presented by Prime Minister Manmohan Singh in a ceremony in New Delhi on August 30. On this occasion, the bank will be launching “Pre-Funded Cheques”, which can be used as a multi-function instrument as a traveller’s cheque and a self drawn demand draft.
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