Page 31 - Banking Finance September 2019

PRESS RELEASE

United Bank of India Taking Reforms to the Branch level
Multi-level Consultation and Ideation Holding

of Branch Level Meet

Y Enabling Bank Credit towards a $5 Tn Economy
The meet also reviewed the region's performance, and its
alignment with national priorities in areas such as-
Y Credit support for economic growth
Y Infrastructure/industry
Y Farm sector and Blue economy
Y Jal Shakti
Y MSME Sector and MUDRA loans
Y Education loans
Y Housing Loans
Y Export credit
The first stage of bottom-up consultative process designed Y green economy
to generate ideas and review performance of banks and Y Swachh Bharat
their alignment with national priorities, was conducted at
the Regional Level United Bank of India, involving all Y financial inclusion and women empowerment
branches within the Region's jurisdiction. This was a first of Y Direct benefit transfers
its kind consultation where the branches were themselves Y Less cash/digital economy
asked to review their performance, deliberate on the issues Y Ease of living
before the banking sector, and ideate on future strategy
Y Alignment with local priorities, and
and the way forward. The meet focused on the ways and
Y Corporate social responsibility.
means to increase credit to various sectors of the economy,
enhance use of technology to bring about innovation and As a result of the consultations, a number of implementable
enable big data analytics, and make banking citizen-centric and innovative suggestions came up on how PSBs in general,
as well as more responsive to the needs and aspirations of and our region/bank in particular, may improve their
senior citizens, farmers, small industrialists, entrepreneurs, performance and what the road map for the future should
youth, students and women. be.
The following nine thematic papers by domain experts on These suggestions were collated and have been sent to the
various challenges facing the banking sector, were discussed H.O.level for further discussions at the SLBC/State level,
during the meet with a view to suggest reforms in Public along with comparative performance assessment of the
Sector Banks (PSBs), and the future roadmap for them: branches under each region. After the SLBC level, final
Y Increasing digital payments consultations will be held at the national level to compare
both intra and inter-bank performances, and to finalize the
Y Corporate Governance in PSBs
suggestions regarding the way ahead for implementation
Y Credit for India's MSMEs across PSBs.

Y Use of Technology in PSBs
The consultative process has resulted in a renewed sense
Y Retail Lending - A Great Opportunity of involvement and purpose down to the branch level and
Y Agriculture Credit the bank is geared towards implementing the roadmap for
the future, improve its performance, and align itself to
Y Export Credit in India
national priorities so that it may fulfil its mandate of
Y Need to Establish Financial Grid partnering the Indian growth story.

BANKING FINANCE | SEPTEMBER | 2019 | 31