UCO Bank to disburse Rs 4000 Cr loan within 45 days to mark its 77th foundation day beginning Monday

Of the Rs 4000 cr earmarked for loans, the state-owned lender has set a target to disburse Rs 500 cr on the very first day to mark "UCO Bank Carnival", a programme to boost its growing financial portfolios as well to reach its customers in all walks of life, UCO Bank chairman A K Goel told reporters here.

To boost the credit of taking and benefitting the consumer segments, Bank is coming with UCO Carnival campaign, an initiative for Retail and MSME borrowers.

Of the Rs 4000 crore, Rs 2700 cr loans to be given in the retail sector and rest Rs 1300 cr for MSME ( Micro, Small & Medium Enterprises).

The Rs 4000 cr loans to be given in the heads of gold, housing, car and other sectors like mudra for 45 days across India, added Mr Goel.

The city-based lender is also dedicating 3 more Rural Self Employment Training Centres (Dausa in Rajasthan, Jagatsinghpur in Odisha & Ropar in Punjab) in addition to its existing 27 RSETIs across the country.

The Bank is also extending credit linkage to 10,000 Self Help Groups and opening two urban Bank Mitra centres in Kolkata.

A mega CASA campaign will also be launched to provide banking service to the unbanked areas.

The lender has announced to launch IVR (Interactive Voice Response) based Phone Banking system and online account opening and virtual card issuance through UCO Pay+ (Bank’s Digital Wallet).

Further, With the development of various Technology Products e.g. Digilocker, UCO Mobile Banking plus, UCO Secure, UCO UPI, Cash withdrawal without Debit Card, Internet Banking; UCO Bank has significantly contributed to the digitalisation of different segments of the customers.