Page 28 - Banking Finance October 2015

PRESS RELEASE

Shri K.V Rama Moorthy takes over as Executive Director of
United Bank of India

Shri K.V. Rama Moorthy assumed the charge as Executive
Director of United Bank of India on 29th August, 2015. Prior
to this assignment, he was the Executive Director of Bank
of Baroda since 10th March, 2015. He has been elevated
from within the organisation.

Born on 12th January, 1959, Shri Rama Moorthy holds a
Bachelor Degree in Agriculture and is a Certificated
Associate of Indian Institute of Banking & Finance (CAIIB).
Shri Rama Moorthy started his career as an Agricultural
Officer in Bank of Baroda in 1981 and has over three decades
of experience in banking. Just before the elevation to
Executive Director, Mr Moorthy was General Manager of
North Gujarat Region of the Bank. Shri Rama Moorthy
brings with him diverse experience in banking having worked in various capacities both in India and abroad. Prior to his
posting as Zonal Head, North Gujarat Zone, in September, 2014, he was the Chief Executive of the Bank's Gulf Operations,
UAE for a period of 3 years.

Mr Moorthy believes that Real Leadership challenge is to create more leaders rather than having followers and it clearly
reflects his thought of 'walking along all to achieve the goal'.

Mr Moorthy ends his day with a single thought of "Money is important, but Not everything".

United Bank of India Mudra
Card distribution in Patna

Shri Jayanta Sinha, Hon'ble Minister of State for
Finance, distributed United Bank of India Mudra Card
under the Pradhan Mantri Mudra to beneficiaries
under the Pradhan Mantri Mudra Yojana, that aims
to speed up lending to small entrepreneurs involved
in manufacturing, trading and services. The function,
held at Patna was attended by eminent political
leaders, senior officials of the State and Bank. The
Mudra or Micro Units Development and Refinance
Agency card is based on the RuPay platform.

Vijaya Bank reduction in base rate

Vijaya Bank, a premier nationalized Bank in India, has announced a reduction in its base rate by 15 basis points with
effect from September 4, 2015. Accordingly, the revised Base Rate will be 9.85% p.a as against the existing rate of
10.00% p.a. This is the second rate cut announced by Vijaya Bank during the last three months. Earlier, Bank had reduced
Base Rate from 10.25% to 10% on June 01, 2015. With this reduction in Base Rate,the Bank is poised to hike its exposure
in Retail Lending especially Housing and Vehicle segment.

28 | 2015 | OCTOBER | BANKING FINANCE

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