Ubi Project Report

8/8/2019 Ubi Project Report

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UNION BANK

OF

INDIA



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INTRODUCTION

Union Bank of India (UBI) is one of

India's largest state-owned banks (the

government owns 55.43% of its share

capital), is listed on the Forbes 2000. It has

assets of USD 13.45 billion and all the

bank's branches have been net worked with

its 1135 ATMs. Its online Telebanking

facility are available to all i ts Core

Banking Customers - individual as well ascorporate. It has representative offices in

Abu Dhabi, United Arab Emirates, and

Shanghai, Peoples Republic of China, and a

branch in Hong Kong.

Because of its acronym UBI , the public

sometimes confuses it with United Bank of

India.



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Union Bank of India was inaugurated by the

Father of the Nation, Mahatama Gandhi, on

November 11, 1919. Started as a limited

company in Mumbai, it was one of the few

Financial Commercial banks in India. Until

1947, UBI had only 4 branc hes - 3 in

Mumbai and 1 in Saurashtra, all

concentrated in key trade centres. Catering

to all the sectors of the society, be it

agriculture, industry, trade and commerce,

services or infrastructure, the bank has also

played a major role in rendering services to

the financial needs of every section. Apart

from this, the bank also extended financial

support to educational, housing and trade

sector.

Union Bank of India undertook the task o f

establishment of village knowledge centers

and self-employment training centers. It

was in 1975, that the Union Bank of Indi a



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was nationalized. It was, then, that it

merged with the Belgaum Bank, a private

sector bank. Another merger was on cards

in 1985, this time with the Miraj State

Bank. 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.

With the age of global banking, Union

Bank of India also changed its style,

boasting of urbani zed and computerized

core banking systems. A front runner

among public sector banks in modern-day banking, it h as all the facilities that a

modern bank should have - internet banking

and centrally computerized branches. UBI

was one of the pioneer public sector banks,



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which launched Core Banking Solution in

2002. As of September 2005, more than 670

branches/extension counters of Bank ar e

networked under Core Banking Solution.

The Bank has launched multiple Electronic

Delivery Channels and has installed nearly

423 networked ATMs.



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BRANCHES IN DELHI

City Branch Contact

DELHI PATEL NAGAR 26/2, East Patel

Nagar, New Delhi,

Pin - 110 008.

PAHAR GANJ 2/2, Desh Bandhu

Gupta Road, Pahar

Ganj, New Delhi, Pin

- 110 055.SUNDER

NAGAR

52, Sunder Nagar,

New Delhi, Pin - 110

003.

MALL ROAD -

NEW DELHI

B-5, Model Town 2,

Delhi, Pin - 110 009.

011 7115362 7425268

AZADPUR D-2, PanchwatiCommercial Centre,

Azadpur, New Delhi,

Pin - 110 033.

Anand Vihar,

Delhi

C-8, Anand Vihar,

New Delhi 110092

Maurya Enclave,

Delhi

Delhi

SSI OKHLA B-231, Okhla

Industrial Area, Phase

- I, New Delhi, Pin -

110 020.

KAROL BAGH 10184, Arya Samaj

Road, Karol Bagh,



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005.

SAKET, DELHI J-292, SAKET, NEW

DELHIKIRTI NAGAR

NEW DELHI

37,DLF Industrial

Area,Kirti Nagar,

New Delhi-110015.

NEHRU PLACE 73-74, Sheetla House,

Nehru Place, New

Delhi, Pin - 110 019.

LODHICOLONY

F-5, New KhannaMarket, Lodhi

Colony, new Delhi,

Pin - 110 003.

KASHMERE

GATE

1366-68, Kashmere

Gate, Delhi, Pin - 110

006.

PASCHIM

VIHAR

Jwala Heddy

Shopping Complex,

Paschim Vihar, New

Delhi, Pin - 110 063.

LAJPAT

NAGAR

25, Feroze Gandhi

Road, Lajpat Nagar

Iii, New Delhi, Pin -

110 024.

Punjabi Bagh 38,Central Market,Punjabi Bagh (West)

New Delhi-110026

DELHI CANTT. Ii/111,112, Jain

Bhawan, Delhi Cantt.,

Pin - 110 010.



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CHAWRI

BAZAR

3581, Chawri Bazar,

Post Box No.1151,


006.SOUTH

EXTENSION

D-43, Nd South

Extension Part I, New

Delhi, Pin - 110 049.

SOWCARPET 194, MINT STREET,

SOWCARPET,

CHENNAI-600003

ASAF ALIROAD

4/14-a, Asaf AliRoad, New Delhi, Pin

- 110 001.

OVERSEAS

BRANCH

26/28, Connaught

Place, New Delhi -

110 001.

IFB CP G-39, Connaught

Circus, New Delhi,

Pin - 110 001.

Janakpuri New

Delhi

C-15,Community

Centre, Janakpuri

New Delhi - 110058.

Pin - 110 048.

I.P. Extention 8- A, Madhuvihar, I.

P. Extension,

Delhi110092KAILASH

COLONY

H-532, Kailash

Colony Market, New

Delhi, Pin - 110 048.

S.B.SARAFA

MARKET

Post Box No. 1578,

S.b. Sarafa Market,



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Chandni Chowk, New

Delhi, Pin - 110 006.

Shankar Vihar 2-3 Shankar Vihar

Shopping Complex, New Delhi

EC at Kailash

Colony

H-532, Kailash

Colony Market,New

Delhi,Pin - 110 048.

CONNAUGHT

PLACE

14/15-f, Connaught

Place, New Delhi, Pin

± 110001.

UNION BANK OF INDIA BRANCH

WHERE I HAVE UNDERGONE TRAINING

PROVIDES FOLLOWING SERVICES:-

y Cash Receipt and withdrawal

y Loan

y Updation of Passbook

y Account Opening

y Demand Draft



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y Real Time Gross Settlement(RTGS)

y

Fixed Deposits

y Plastic money

y Tax

y Public Provident Fund

y Government Pension

y E-Banking

DETAILED COMMENTS ON THE

SERVICES

1. CASH RECEIPT AND WITHDRAWAL:-

A deposit account is a current account,

savings account, or other type of bank

account, at a banking institution that



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allows money to be deposited and

withdrawn by the account holder. These

transactions are recorded on the bank's

books, and the resulting balance is recorded

as a liability for the bank, and represents

the amount owed by the bank to the

customer. Some banks charge a fee for this

service, while others may pay the customer

interest on the funds deposited.

2. LOAN

UBI provides these types of loan:-

UNION HOME-A home is every one¶s

Dream. We make it true. Easy repayable

instalments. Value added services.

Minimum paper work.



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ELIGIBILITY

y Indian Citizen - 21 years and above.

y Either single account or joint account with other

family members viz.(father, mother, spouse or

son ) with regular source of inco me.

y Individuals who may be employed/self-employed

in business having regular inco me.

y A minimum of 40% marks as per investment

grade scoring chart(Internal method of the bank).

PUR POSE

y Purchase/construction of independent

house/flat.

y Repair/Improvement/Extension.

y Repayment of loan availed from another

agency/Bank/NBFC.

y For purchase/ construction of 2nd property

(independent house/flat)

y Plot sold by a Government-recognized agency

viz., HUDA, HOUSEFED and such others.



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QUANTUM

y Max Rs. 300 Lacs for Mumbai, Delhi, Kolkata,

Chennai, Bengaluru, Ahmedabad,Hyderabad,Gurgaon, Noida and New Delhi.

y For other cities Rs. 100 lacs

y Max. Rs. 10 lacs for repair.

MARGINy For loan up to Rs. 200 lacs, 20% of the cost o f

the property.

y For loan above Rs. 200 lacs, 35% of the cost

of the property.

R EPAYMENT

y Moratorium up to 18 months wherever loan is

taken for under construction flat or building.

y By Equated Monthly Installment (EMI.)

y The maximum repayment period should not

exceed 25 years (including moratorium) for

construction / purchase of house/ flat and 10

years for repair.

y Option of Flip/Step-up/Balloon methods of



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repayments for the convenience of the

borrowers

UNION EDUCATION:-

Give your children the higher education

they deserve. Give them chance to fulfil

their dream. Provide them the best

education with Union Education.

OBJECTIVE &

PUR POSE

The scheme aims at providing financial assistance

on reasonable terms to the poor and needy students

to undertake basic education and to meritorious

students that they may pursue higher or

professional or technical education.



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ELIGIBILITY

Student Eligibility

y Indian citizen

y Secured admission to the concerned institute in

India or abroad through an appropriate

selection process and cleared the qualifying

examination,if any

Courses Eligibility(Indicative List) :

a. Studies in India

y Graduation/Post-Graduation

y Professional courses

y Management courses

b. Studies Abroad :

y Graduation: For job-oriented professional or

technical courses offered by reputed

universities

y Post-Graduation: MCA, MBA, MS and such

other courses



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y Courses conducted by CIMA, London, CP A,

USA., and such other institution

EXPENSES CONSIDERD FOR LOAN

y Fee payable to Institute/Hostel.

y Examination/Library/Laboratory fees

y Purchase of

Books/Equipments/Instruments/Uniforms

y Caution Deposit,Building Fund/refundable

deposit supported by Institution

Bills/receipts,subject to the condition that the

amount does not exceed 10% of the total

tuition fees for the entire course.

y Travel Expenses/passage money for studies

abroad

y

Purchase of computers-essential for completionof the course

y Insurance premium for the student borrower

y Any other expense required to complete the



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course, such as, Study Tours,Project

Work,Thesis, etc.

QUANTUM OF LOAN

Need based finance subject to repaymen

capacity of the parent or student with margin

and up to following ceilings:-

For studies in India-up to Rs10 lacs

For studies in Abroad-up to Rs20 lacs

MARGIN

No margin for loans up to Rs4.00 lacs. However,

for loan of higher amounts, the margin requirement

is 5% for inland studies and 15% for studies

abroad.

Scholarship/assistance to be included in margin.

Margin may be brought in on pro-rata basis as and

when disbursement is made.



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REPAYMENT

Repayment holiday or moratorium on loan: course

period +1 year OR 6 months after job p lacement,

whichever is earlier.

Starting from then point, th e loan is to be repaid in

5-7 years after completion of course period/

moratorium.

3.UPDATION OF PASSBOOK

Book issued by a bank or savings institution to

record deposits, withdrawals, and interest earned in

a savings account.

A passbook or bankbook is a paper book used torecord bank transactions on a deposit account.

Depending on the country or the financial

institution, it can be of the dimensions of a



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chequebook or a passport.

Traditionally, a passbook is used for accounts with

a low transaction volume, such as a savings

account. The bank teller or post master writes, by

hand, the date and amount of the transaction, the

updated balance, and enter his or her initials. In the

late 20th century, small dot matrix or inkjet

printers were introduced to update the passbook at

the account holder's convenience, either at an

automated teller machine or a passbook printer,

either in a self-serve mode, by post, or in a b ranch.

SPECIMEN OF PASSBOOK:



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4. ACCOUNT OPENING

RATES AT A QUICK GLANCE

AS ON 01.01.2010

DEPOSIT ACCOUNTS

NATURE RATE OF INTEREST

MINIMUM BALANCE

(AQB)

NORMAL SENIOR

CITIZEN RURAL SEMI-URBAN

URBAN /

METRO

ACCOUNT



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1. Savings Bank A/c

A. Domestic

a.

With Cheque Bookfacility 3.50% 3.50% Rs.250 Rs.500 Rs.1000

b. Without cheque book

facility 3.50% 3.50% Rs.100 Rs.250 Rs.500

c. No Frills Account

North-eastern states

Other than north-eastern

states

3.50%

3.50%

3.50%

3.50%

NIL

Rs.25

NIL

Rs.25

NIL

Rs.25

a. NRO 3.50% 3.50%

b. NRE 3.50% 3.50%

DOCUMENTS REQUIRED AT THE TIME OF

ACCOUNT OPENING:

For

Individuals:

Passport

copy

Voter¶s id

card

Photo Credit

Card

Gas

Connection

Receipt



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Employer¶s

ID card

Driving

license

(laminated card

)

PAN card

Latest

Telephone Bill

Latest

Electricity Bill

Statement

from existing

bank

In addition, the following documents

are required:-

Proof of PAN / GIR No or Form 60

(In case of cash deposit)

Latest passport size photograph(2 copies)

5. DEMAND DRAFT

A method used by individuals to make

transfer payments from one bank account to



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another. Demand drafts are marketed as a

relatively secure method for cashing

checks. The major difference between

demand drafts and normal checks is that

demand drafts do not require a signature in

order to be cashed.

Demand drafts were originally designed to

benefit legiti mate telemarketers who

needed to withdraw funds from customer

checking accounts. However, the lack of a

signature required to authorize the trans fers

have left demand drafts open to fraudulent

use. The only information needed to cre ate

a demand draft is a bank account number

and a bank routing number - this

information is found on a standard chec k.

6. REAL TIME GROSS SETTLEMENMT

Real Time Gross Settlement is a funds

transfer mechanism where transfer of

money takes place from one bank to another



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on µreal time¶ and on µgross basis¶. This is

the fastest possible mode of money transfer

through bank channel µavailable in India.

Presently, there are over 45000 bank branch

enabled for remitting and receiving funds

through RTGS. RTGS is primarily for large

value remittances. The minimum amount to

be remitted through RTGS is Rs.1.00 Lakh.

The customer intending to remit money

through NEFT has to submit an application

with particulars of IFSC (Indian Financial

System Code) of the beneficiary

Bank/Branch, full account number and

name of the beneficiary.

Union Bank offers RTGS facility to its

customers through all i ts 2400+ branches.

The bank has completely waived service

charges on all RTGS remittances and as

such the facility is free to our customers.



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RTGS remittance service for customer

transactions is available from9.00 hours to

15.30 hours on weekdays and from 9.00

hours to 11.00 hours on Saturdays. Under

this facility money will be credited to the

beneficiary account instantly on µreal time¶

basis.



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7. PLASTIC MONEY

Credit Cards

Shop Shop Shop with Union Bank¶s International

Credit Card. And pay at your own sweet

convenience. It will bridge the gap between

wanting and having. Get it now and see your

tensions melt away. Union Bank in association with

VISA International offers Global credit card-

Union Card exclusively to its customers.

Types of credit cards:-

y Classic/silver/Gold

y Corporate card

Documents required:-

-Copy of PAN card(mandatory)\

-Salary slip/Certificate(latest)



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-Form 16

-IT Return(latest)

-Address proof

-Identity proof

Ubi Project Report

Documents

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