Project Report on Union Bank of India-Marketing and Finance Topics
Case Studies on Ratio Analysis of Union Bank of India
Dissertation on Strategic and Financial Analysis of Union Bank of India
Union Bank of India has been a major commercial bank since its establishment in the early twentieth century and was inaugurated by the legendary Mahatma Gandhi. The bank with its efficient value-added services, sustained growth, consistent profitability and development of new technologies, bank has ensured complete customer delight, living up to its image of, “GOOD PEOPLE TO BANK WITH”. The head office of Union Bank of India is situated in the trade hub of the country - Mumbai.
The Union Bank of India has 2484 branches out which 1031 branches are under CBS. Presently 1573 ATMs spread out across India both Onsite and Offsite. All the ATMs are inter-connected through the Bank’s ATM Switch, thus facilitating on-line operations in case of CBS customers. The Bank is a member of Cash Tree consortium and also has bilateral arrangement with State Bank of India, enabling the Bank’s ATM card holder access to over 20000 ATMs across the country.
Union Bank is a Public Sector Unit with 55.43% Share Capital held by the Government of India. The Bank came out with its Initial Public Offer (IPO) in August 20, 2002 and follow on Public Offer in February 2006. Presently 44.57 % of Share Capital is presently held by Institutions, Individuals and Others. Union Bank has believed in growing at par with the society. As the society underwent an IT boom, Union Bank of India changed its banking style from plain contemporary to urbanized and computerized core banking systems. Union Bank of India ventured into Internet banking and centrally computerized branches.
Company Services
The various banking products and services offered by Union Bank of India include:
DEPOSITS
- Cumulative Deposit Scheme
- Deposit Reinvestment Certificate
- Union Flexi-Deposit
- Union Insured Recurring Deposit
- Union 94 Months Double Scheme
- Monthly Income Scheme
- Tax Exemption Deposits
- Union Float Deposits
- Union Unfixed Deposits For NRI
- FCNR (B)
- Foreign Currency Deposit
- RFC.
- Senior Citizens Savings Account
- Pensions Accounts
- Multi Gains Current Account
- Multi Gains Savings Account
- No Frills Savings Account
- Union Super Salary Account
- Union Bullet
- NRO Account Scheme
- NRE Rupee Account.
LOANS
- Trade Loans
- Home Loan
- Home Renovation Loans
- Car Loan
- Consumer Choice Loans
- Education Loan
- Health Loan For Setting Up Of Clinics By Medical Practitioners
- Union Mortgage
- Union Shares
- Working Capital Loans
- Loans To SSI
- Finance For SME
- Agricultural Loans.
CARDS
- Credit Cards
- International Debit Cum ATM Card
- Kissan ATM.
INSURANCE
- Life Insurance
- Non-Life Insurance
- Family Health Insurance
- Accidental Mediclaim Policy
- Home Insurance
- Car Insurance.
OTHER SERVICES
- E-Banking Or Online Banking
- Remittance Service
- Bill Payment Service
- Tax Payment Service
- ATM Banking
- Tele Banking
- Online Demat Trading
- Cash Management Services
- Mutual Funds
- Railway Tickets Booking.
Besides all these services, Union Bank of India offers special investment and other services to its customers. These include 8% Tax Saving Bonds, Public Provident Fund (PPF), Direct Tax Collection, Central Excise and Service Tax Collection Services and Special Savings Schemes for Senior Citizens.
The bank has extended financial support to educational, housing and trade sector as well to help them grow and bring about social and economic reform. Initiatives have been taken by Union Bank of India for establishment of village knowledge centres and self-employment training centres.
Key Concerns
• The Banking industry is very competitive and the ability of banks to grow depends on their ability to compete effectively.
• Banking in India is a heavily regulated industry and material changes in the regulations could adversely affect Banks business.
• Exchange rate fluctuations may have an impact on banks financial performance.
• A slowdown in economic growth in India could cause banks business to suffer.
• The introduction of technology in banking operations has also imposed greater responsibility to protect against various information security threats and to ensure wider assurance of safeguard of the interest of customers.
• Implementation of Basel II requires higher capital.
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