Minister Prof. Lalnilawma Inaugurates Union Bank of India Saitual Branch

Saitual, Nov 2025: Today, Minister of State Prof. Lalnilawma inaugurated the Union Bank of India (UBI) Saitual Branch, located at Keifang Police Veng.

Speaking at the inaugural function, Prof. Lalnilawma said he was delighted that the UBI Saitual Branch had been opened, calling it an important milestone for the development of Saitual District. He emphasized that cooperation between banks and the public is essential, as such coordination ensures efficient financial services.

The Minister highlighted the various banking facilities available, stating that UBI would provide great assistance in accessing loans, savings, and other financial services. He encouraged Mizo people to cultivate the habit of maintaining savings accounts in banks. He expressed hope that the new UBI branch would grow steadily and effectively serve the people, especially in facilitating local businesses.

The inaugural programme was chaired by Pu C. Vanlalruala, Manager, UBI, while the invocation prayer was offered by Rev. Lalsanglura Sailo, Pastor, BCM Saitual. Pu Srabana Kumar Pradhan, Deputy Regional Head, Regional Office Jorhat, delivered a welcome address, and both Prof. Lalnilawma and Saitual Deputy Commissioner Dr. Lalngura Tlau also gave speeches. The programme concluded with a vote of thanks by Pi Florence L. Joute.

Union Bank of India is one of India’s five largest public sector banks, established on 11 November 1919 by Mahatma Gandhi. Its headquarters is located in Mumbai. Today, 11 November 2025, marks the bank’s 107th anniversary.

On 1 April 2020, UBI merged with Andhra Bank and Corporation Bank. The bank now operates over 8,600 branches, 10,000 ATMs, and employs more than 74,100 staff across India and abroad. Internationally, UBI has branches and subsidiaries in the Dubai International Financial Centre (UAE), Sydney (Australia), London (UK), and Malaysia. The bank’s total deposits and advances this year stand at ₹22.14 lakh crore, a 5% increase from the previous year.

UBI’s motto, “Good people to bank with,” reflects its commitment to customer-focused service. The bank disburses about 57% of its total advances to the Retail, Agriculture, and MSME sectors. Its Gross NPA stands at 3.52%, Net NPA at 0.62%, and Capital Adequacy Ratio at 18%. Union Bank is also among the first public sector banks in India to provide a fully integrated core banking solution across all its branches.