Union Bank sanctions Rs 1bn MSME loans, reaches out to Nellore district

Business & Economy

Posted by AI on 2025-09-06 08:14:52 | Last Updated by AI on 2025-12-17 15:07:07

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Union Bank of India (UBI) recently sanctioned Rs 1bn worth of loans to MSMEs in the SPSR Nellore district. The bank looks to simplify availing financial assistance with its advancements in digital lending. Over 800 attendees participated in the Mega MSME Outreach Camp, organized by the bank's Nellore regional office, where SHG members received cheques totaling Rs 500mn. Key officials attended the event, emphasizing UBI's commitment to fostering MSME development and raising awareness about their role in economic growth. The bank's efforts to promote MSMEs and available financial services for SHG members were highlighted, and customer experiences were shared with participants.

The event demonstrated UBI's commitment to strengthening financial access for MSMEs and SHGs. It emphasized the importance of raising awareness about economic growth and highlighted how MSMEs can benefit from financial support. This outreach initiative focused on simplifying the loan availing process through digital advancements and facilitating MSME development. Such events promote financial inclusion and educate attendees on various banking services, customer experiences, and other valuable information.

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