Union Bank of India Q3 was marked by renewed optimism of an early recovery in the economy. A series of legislative measure enacted during this period, particularly relating to the Banking Sector augurs well for the future of the industry.
In this backdrop, Union Bank maintained its initiative to enlarge its retail banking capabilities and emerge as a one stop financial supermarket. The initiatives included entry into corporate insurance agency for HDFC Standard Life Ltd the first Bank to be accredited by IRDA as a corporate agency, innovations in the Home Loan Products, greater momentum in the Cash Management Services business and bullion trade. The IT initiative is also surging ahead as per schedule and will make an impact by enhanced customer service by March 03.
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