Government of India has recently launched the 'Prime Minister's New 15 Point Programme for the Welfare of Minorities' to ensure that the beneficiaries from Minority Communities get a fair share of Bank credit under various Government sponsored schemes as well as other Priority Sector Lending.

An important objective of the programme is to ensure that the appropriate percentage of the Priority Sector Lending is targeted for the Minority Communities and the benefits of the various Government sponsored schemes for the under privileged reach the disadvantaged sections of the Minority Communities.


The target group of the programme consists of the following communities notified as Minority Communities by the Government of India, Ministry of Welfare viz.
a. Muslims,
b. Christians,
c. Sikhs,
d. Buddhists and
e. Zoroastrians (Parsis)
f. Jainism

The programme covers 121 districts of the country where population of Minority Communities is concentrated.

 

Union Bank of India as a leading Nationalised Bank of the country has a widespread network of 4078 branches throughout the country and has already commenced initiatives to enlarge our financial exposure to Minority Communities.

To step up Priority Sector Lending to Minorities Bank has prepared a Roadmap to achieve the targeted level of 15% of Priority Sector Advances to Minority Communities by 2016. Present status of lending to Minority Communities is Rs.10482 crores as of Mar-2015 (11.99%) and our Bank has planned to reach the projected level of Rs.15000 crores by 2016, which will meet the stipulated requirement of 15% of Priority Sector Advances.

To reach the above targeted level following initiatives have been taken by our Bank:

• A special cell has been set up at Corporate level to monitor the flow of credit under Priority Sector to Minority Communities and also to address their problems. Shri K.R. Jaiprakash, Asst.General Manager, Rural & Agri Business Department has been appointed as Officer-In charge of the Special Cell. Contact numbers/ E-mail address is as under-
  Tel. 022-22896554 Fax:022-22811694
  E-mail: kr.jayaprakash@unionbankofindia.com
• Lending to Minority Communities is being monitored on regular basis in the 121 Minority Dominated Districts and 338 identified towns. As of Mar-2015 Rs.10482 crores has been financed under Priority Sector to specified Minority Communities covering 4.49 lac beneficiaries, out of which 183209 beneficiaries have been covered with credit exposure of Rs.4524.08 crores in the identified 121 Minority Concentration Districts.
• Our Bank is having 1072 branches in 121 Minority Concentration Districts/Towns/Cities as of 31.03.2015
• Adequate publicity is being given by our Bank in 121 Minority Concentrated Districts of the various deposit and loan products of the Bank
• Our Bank has lead responsibility in 14 districts in 4 States viz. 7 in Uttar Pradesh, 2 in Bihar, 3 in Madhya Pradesh and 2 in Kerala and the respective Lead District Managers are playing a prominent role in enhancing lending to Minority Communities. Our 2 Lead Districts in Kerala i.e. Ernakulam and Idukki are Minority Concentrated Districts
• Our Bank has also opened 26 Financial Literacy Credit Couseling Centres (FLCC) in our Lead Districts of which 8 FLCCs are in Ernakulam & Idukki Districts which are minority concentrated districts where financial literacy and financial education is imparted free of cost.

Our Bank has a basket of various need based/tailor made deposit/loan products to cater to individual needs such as Retail Loans, Housing Loans, Education Loans, Agricultural Loans, Loans for Small Business, Loans to Traders, Loans to Self Employed etc.

SPECIAL SCHEMES 

Loans are being provided for gainful employment under various Government sponsored schemes viz. National Rural Livelihood Mission (NRLM), National Urban Livelihood Mission (NULM), Self Employment Scheme for Rehabilitation of Manual Scavengers (SRMS), Prime Minister Rural Employment Generation Programme (PMEGP), Differential Rate of Interest scheme (DRI) etc.


SUPPORT FOR AGRICULTURE/FARM SECTOR

Under Farm sector, assistance is available for poultry/dairy development, production credit, farm mechanization, minor irrigation, land development, purchase of land, etc

Our Bank has established 14 Rural Development and Self Employment Training Institutes (R-Seti) in our Lead Districts viz. Ernakulam and Idukki (Kerala), Varanasi, Mau, Azamgarh, Ghazipur, Jaunpur, Bhadohi, Chandauli (Uttar Pradesh), Samastipur, Khagaria (Bihar) and Rewa, Sidhi, Singrauli (Madhya Pradesh) and a Rural Development Foundation at Alibaug (Maharashtra) to impart training for skill upgradation as well as provide consultancy services to take up self employment ventures

The details of the available schemes for Deposits and Loans are given overleaf and can be viewed by accessing our Bank's Website at www.unionbankofindia.co.in.

Retail Deposit Schemes

• Union Classic Current Account : Offers a host of value added services. 
• Multi-City Cheque Facility : Helps the customer to withdraw funds or make payments to others at different centres. 
• Multi Gain Saving Account : Offers a host of value added services. 
• Union Flexi Deposit : Offers Term Deposit Interest Rates on Savings Account & even on a Current Deposit Account. 
• Deposit Reinvestment Certificate : Deposit where interest is compounded quarterly. 
• Senior Citizen Scheme : For higher interest rate to Senior Citizens. 
• Union Insured Recurring Deposit : Recurring Deposit with Life Insurance. 
• Money Multiplier Deposit Scheme : Fixed Deposit with higher returns and option of Life Insurance. 
• Cumulative Deposit Scheme : Save in easy installments over a fixed period to accumulate into a lumpsum. 
• Fixed Deposit Scheme : Interest payable monthly/quarterly/half yearly as desired.
• Union Monthly Plus Scheme: Offers cumulative deposits with flexibility to deposit in monthly instalment by way of step up and step down options
  
  Retail Lending Schemes
• Union Home : For purchase / repairs of flat / house, construction of house. 
• Union Trade : Facility for easy finance to Wholesale/Retail Traders. 
• Union Miles : For purchase of vehicle for personal/professional use. 
• Union Education : An ideal education loan for students. 
• Union Share : Loan against shares / debentures / bonds. 
• Union Top-up Loan : Loan to existing home loan borrowers to the extent of 50% of the amount repaid. 
• Union Smile : To meet unforeseen expenses of salaried class / pensioners. 
• Union Mortgage : Loan for personal needs against mortgage of property.
• Union Health : Loan scheme for Medical Practitioners. 
• Union Reverse Mortgage : Loan Scheme for Senior Citizen. 
• Union Cash : Loan scheme for Pensioners. 
  
  Priority Sector Lending Schemes
• Union Green Card : Short term/medium term loans for cultivation of crops, purchase of agricultural equipments and allied activities.
• Loans for purchase of Tractors / Power Tillers. 
• Minor Irrigation : Loans for sinking / repair of wells / borewells / tubewells / pump sets / electric motors / pipelines. 
• Loans for Floriculture. 
• Union White Card : Loans for purchase of milch cattle/Dairy operators. 
• Poultry : Loans for purchase of birds, construction of shed and mainteance expenses. 
• Agricultural Loan : For purchase of land for small / marginal farmers. 
• Loans against gold ornaments for agriculture purpose. 
• Advance to SSI units for acquiring fixed assets, machineries and working capital. 
• Loans for Small Road and Water Transport Operators for purchase of vehicles / vessels. 
• Retail Trade : Loans for retail traders. 
• SHGs : Loans for Self Help,NGOs, Micro Finance Institutions.
• Social Infrastructure: Financing for construction of School, Health Care Facilities, Drinking Water Facilities, Sanitation Facilities in Tier II to Tier VII centres.
• Renewable Energy : Financing for purposes like Solar based power generator, Biomass based power generator, wind mills, micro hydel pumps and for non conventional base public utilities like street lighting system and remote village electrification.