Type of information to be published
The particulars of its organization, functions and duties
Union Bank has its Corporate Office at Mumbai. Bank is having 54 Regional Offices and more than 3175 branches through out India. Union Bank is in the Banking business and does functions stated under Banking Regulation Act, 1949 and perform functions as permitted by RBI. For details visit our Banks '
The powers and duties of its officers and employees
The powers and duties of officers and employees are decided by the Board of Directors and in terms of Service Regulations and Memorandum of Understanding/agreements with majority Unions
To sanction advance
The delegation of financial, administrative and other powers to Branch Heads /
Committees are decided by the Board of Directors of the Bank and in terms of
Service Regulations and Memorandum of Understanding/agreements with
majority Unions. These powers are revised periodically, depending upon the
organization's requirement and statutory / regulatory guidelines issued by
Government / RBI from time to time.
The concerned sanctioning authority takes a decision to sanction a loan or
otherwise, on merits of each proposal after taking into consideration relevant
facts and other requisite information.
For compromise/write off : click here
DELEGATED AUTHORITY FOR DEATH CLAIM SETTLEMENT : click here
The procedure followed in the decision making process, including channels of supervision and accountability
Board of Directors delegate powers to officers/employees at various levels for discharging various duties for smooth functioning of the organization. Guidelines are laid down for exercising supervision, control and fixing accountability / responsibility.
Specific details may be obtained from CPIO, Central Office, Mumbai
The norms set by it for the discharge of its functions
Directions received from Ministry of Finance, Government of India, Reserve Bank of India and /or approved by the Board of our Bank from time to time are the guiding principles for discharging various functions.
The rules, regulations, instructions, manuals and records held by it or under its control or used by its employees for discharging its functions
Best Practice Code (Manual of Instructions and circulars) on all our products, periodical circulars, Hand books etc., is made available to all employees for discharging various functions. Information about various assets and liability products, best practices code, grievance policy etc are already provided on the website of the bank .
A statement of the categories of the documents that are held by it or under its control
Documents, as required under law, rules and regulations, such as, Balance Sheets, record of the staff, licenses obtained from RBI for opening branches/offices etc., are held by the Bank.
Annual Report / Quarterly Reports of our Bank are made available on our
(Provide a link to see INVESOR RELATIONS under ABOUT US)
The particulars of any arrangement that exists for consultation with, or representation by, the members of the public in relation to the formulation of its policy or implementation thereof;
Board of Directors, which formulates and implements its policy, also includes representatives nominated by Government of India.
A statement of the boards, councils, committees and other bodies consisting of two or more persons constituted as its part or for the purpose of its advice and as to whether meetings of those boards, councils, committees and other bodies are open to the public, or the minutes of such meetings are accessible for public;
Board of Directors are constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 .
Various committees as per the requirement of the Bank are formed as per the approval of Board or by the top management, as per the powers delegated by the Board.
Publics are not entitled to participate on the meetings of the Board / Committees and minutes are not accessible to Public however matter that do not fall under exempted category under RTI Act can be disclosed on specific request.
Board Level Committees
A directory of its officers and employees;
(Provide a link to see HUMAN RELATIONS under DISCLOSURE & POLICIES under ABOUT US)
The monthly remuneration received by each of its officers and employees including the system of compensation as provided in its regulations,
The Government of India fixes remuneration of the Chairman & Managing Director as well as the Executive Director of the Bank.
As regards the remuneration of other officers/employees, the same is fixed as per the service regulations/settlements reached with unions.
The budget allocated to each of its agency, indicating the particulars of all plans, proposed expenditures and reports on disbursements made
The manner of execution of subsidy programmes, including the amounts allocated and the details of beneficiaries of such programmes
The subsidy is available under Government sponsored schemes e.g. PMEGP, SGSY, SJSRY and each scheme has specific guidelines for the appropriation of the subsidy as per guidelines issued by RBI from time to time. For example under SJSRY and SGSY subsidy is kept under Subsidy Reserve Fund Account with some lock in period and to be appropriate as specified in the scheme after lock in period. In case of PMEGP subsidy is to be kept in form of Term Deposit Receipt. No interest is to be paid on subsidy amount and no interest is to be charged on the corresponding loan amount. There is no specific allocation of subsidy however targets are allocated to branches under each scheme by the implementing Government agency e.g. KVIC, DRDA etc. Beneficiaries of these schemes are very large in number, details about them is available in the respective branch wherefrom the loan is taken. click here for details
Particulars of recipients of concessions, permits or authorisations granted by it
Farmers are given crop production credit loans @ 7% p. a.up to maximum amount of Rs 3.00 lacs. An additional interest subvention @ 3% is given to such farmers who are promptly repaying their above loans.
Under DRI scheme loan is provided at 4% p. a.
Details in respect of the information, available to or held by it, reduced in an electronic form
Details of products and services offered by the Bank are made available on our website :http://www.unionbankofindia.co.in/Home.aspx
The particulars of facilities available to citizens for obtaining information, including the working hours of a library or reading room,if maintained for public use
Union Bank is not maintaining any Library/Reading Room for Public. However, Public can obtain information on our various products from any of the Bank branches. Further the information is also made available on our
The names, designations and other particulars of the Public Information Officers
List of Public Information Officers placed at various Regional Offices and FGMOs and Central Office all over the country and Appellate Authority placed at Head Office is made available on Ban's website under RTI portal.
Such other information as may be prescribed
Norms for Basel II / III issued by RBI