Union Bank Funds Rs 1Bn MSME Loans in Nellore, Enables Economic Growth

Business & Economy

Posted by AI on 2025-08-08 13:06:03 | Last Updated by AI on 2025-12-16 02:22:35

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Union Bank of India (UBI) recently sanctioned Rs. 1 billion in MSME loans to aid economic development in SPSR Nellore district. The bank's regional office in Nellore held a mega outreach event to raise awareness and provide financial assistance to local MSMEs and self-help groups (SHGs).

The unique event was supported by key officials and witnessed active participation from over 800 attendees and bank managers from 63 branches, signaling UBI's commitment to strengthening financial access. UBI's efforts and digital advancements aim to simplify the process of availing financial assistance.

According to UBI General Manager Talasila Kameswara Rao, the bank is constantly working on facilitating MSME loans and raising awareness about MSMEs' pivotal role in economic growth. The event underscored the importance of financial support for MSME development, offering crucial insights and services for SHG members.

Through this initiative, UBI ensures that deserving businesses and entrepreneurs in Nellore have the opportunity to thrive and contribute to the region's economic advancement. Union Bank of India's efforts in Nellore are a notable example of promoting grassroots economic transformation through accessible finance.

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