SUMMER TRAINING REPORT

FOR
UNION BANK OF INDIA

Submitted for the requirement of the award of

The Degree
In
Bachelor of Business Administration
(2008-2011)

Submitted To: Submitted By:

Internship co-ordinator Simpy Goyal
M.D.University 08BBA136
Rohtak BBA – 5th Semester

FARIDABAD INSTITUTE OF TECHNOLOGY

(AN ISO 9001-2000 CERTIFIED INSTITUTE)
ARAVALLI HILLS SECTOR -43, FARIDABAD
 ACKNOWLEDGEMENT
To acknowledge all the persons who had helped for the fulfillment of the project is not

possible for any researcher but in spite of all that it becomes the foremost responsibility of

the researcher and also the part of research ethics to acknowledge those who had played a

great role for the completion of the project.

So in the same sequence at very first, I would like to acknowledge my parents because of

whom I got the existence in the world for the inception and the conception of this project.

Later on I would like to confer the flower of acknowledgement to other faculty members

who taught me that how to do project through appropriate tools and techniques. Because

THE UNION BANK OF INDIA. has trusted me and given me a chance to do my

integrated research study.

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 TABLE OF CONTENTS
1. Company Profile

2. Objective of Study

3. Scope of Study

4. Data analysis and Interpretations

5. Conclusion and Recommendations

ANNEXURE
1. Bibiliography

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 INDUSTRY INTRODUCTION

What is Banking?

Banking in a traditional sense is the business of accepting deposits of money from public for the
purpose of lending and investment. These deposits can have a distinct feature pf being withdrawn
able by cheques, which no other financial institution can offer. In addition, banks also offer
financial services, which include:
 Issuing demand draft & travelers cheque.
 Credit cards
 Collection of cheques, bill of exchange.
 Safe deposit lokers
 Custodian services.
 Investment and Insurance Services.
The business of banking is highly regulated since banks deal with money offered to them by the
public and ensuring the safety of this public money is one of the prime responsibilities of any bank.
That is why banks are expected to be prudent in their leading and investment activities.
Every bank has a compliance department, which is responsible to ensure that all the services
offered by the bank, and the processes followed are in compliance with the local regulations and
the Bank’s corporate police

The major regulations and act govern the banking business are:-
 Banking Regulation Act, 1949
 Foreign Exchange Management Act,1999
 Indian Contract Act
 Negotiable Instruments Act, 1881

Bank lend money either for productive purposes to individual, firms, Corporate etc. of for buying
house property, cars and other consumer durables and for investment purposes to individuals and
the others. However, banks do mot finance any speculative activity. Lending is risk taking. The
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Depositor of banks is also assured of safety of their money by deploying some percentage of
deposit in statutory reserves like SLR & CLR.

BANKING INDUSTRY

Banking System
Banking system is an integral sub-system of the financial system. It represent an important channel
of collecting small saving from the households and ending it to the corporate sector.

The Indian Banking system has the Reserve Bank of India (RBI) as the apex body for all matters
relating to the banking system. It is the comucopia of Banks of India and bankers to all others
banks as well.

Classification of Banks
1. Non-Schedule Banks
These are banks, which are mot included in the second schedule of the Banking Regulations
Act, 1965. It means they do mot satisfy the conditions laid down by that schedule. They are
further classified as back:
 Central co-operative banks and primary credit societies
 Commercial Banks

2. Schedule Banks
Must have paid-up capital and reserve of mot less than Rs. 50, 00,000. The must
satisfy the RBI than its affairs are mot conducted in a manner detrimental to the
interests of its depositors. These are further classified as follow:
 State co-operative Banks
 Commercial Banks

Banks are further sub-divided as:-

1. Indian Banks:

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 These banks are companies registered in India under companies act, 1956, their
place of origin is in India. These are further classified into.

A. State Bank of India and its Subsidiaies:

This group comprises of the State Bank of India (SBI) and its seven subsidiaries
viz., State Bank of patiala, State Bank of Hyderabad, State Bank of Travancore,
State Bank of Bikaner & jaipur State Bank of Indore.

B. Other Nationalized Banks:

This group consists of private sector bank that were national. The Government of India
Nationalized 14 private banks in 1969 and another 6 in the year 1980.

C. Regional Rural Banks:

The RBI established these in the year 1975 of Banking Commission. It was established to
operate exclusively in rural areas to provide credit and other facilities to small and marginal
armers, agricultural alboras, artisans and small entrepreneurs.

D. Old private Sector Banks:

This group consists of Banks that were established by the privy states, community
organization or by a group of professionals for the cause of economic betterment in
their area of operations. Initially their branches slowly speard throughout the national as
they grew.

E. New Private Sector Banks:

These banks were started as profit oriented companies after the RBI opened the banking
sector to the private sector, these banks are monthly technology driven and betterment in
their branches slowly spead throughout the nation as they grew.

2Foreign Banks:
There are banks that were registered outside India and had origiented in a foreign country.

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 COMPANY PROFILE

UNION BANK OF INDIA underwent a registration process as a LIMITED COMPANY in

MUMBAI in the year 1919. Our Father of the NATION “MAHATAMA GANDHI” has done the
inauguration of this bank in 1947.UNION BANK had 3 branches in Mumbai and government. AT
that point of time, it was managing 240 Branches across 28 States

IN its journey, UNION BANK OF INDIA witnessed merges with a Private Sector Bank .But
called BELGAUM BANK and then MIRAJ STATE BANK. On the request of RESERVE BANK
OF INDIA is acquired SIKKIM BANK, which had 8 Branches in the North-East at that time

UNION BANK is the public sector unit with 55.43% Share capital held by the Government of
India. The came out with its INITIAL PUBLIC OFFER (IPO) in February 2006. Presently 44.57%
of Share Capital is presently held by institutions, individual, and others
IN the year 2007, UBI made its presence felt in the international arena by opening reprentatives
office in the destination of UNITED ARAB EMIRATRS, ABU DHEBUI, SHANGHAL and
people REPUBLIC of CHINA. Besides, it chose HONG KONG as the destination to open its very
first branch outside the India.

PRODUCTS AND SERVICES

UNION BANK OF INDIA provides various types of product and services .The wide range of
product and services consists of
BANKING

• Accounts & Deposits – cumulative deposit scheme, deposit reinvestment certificate,

monthly income scheme, union flexi-deposit, senior citizens scheme, multi gain savings
account, no frills saving account, union super salary account, union classic current account
• Retail Loans – union cash, union home, union health, union miles, union education, union
top up, EMI calculator, union smile.

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 • Cards - Classic / Silver / Gold, Corporate Credit Cards, Add-On Cards
• Insurance & Investment – mutual fund, union healthcare
• Demit – demit accounts, online share trade
• Payment

NRI Banking

• Remittance - Union E-Remit, Nostro Details for Remittance

• Savings & Deposits - NRO Non Resident Ordinary A/c Scheme, NRE Non Resident
External Rupee, RFC, FCNR(B), Union Unfixed, Foreign Currency Deposit
• Loan & Services – house loans, foreign currency loans, loans against deposit, immovable
property, and shares or debenture
• Payments - Union Bill Pay

Corporate Banking

• CMS - Union Speed, Union Centralized Debits/Credits, Union Prompt

• E-Tax - Customs and Direct taxes, DGFT, Central Excise and Service Tax
• Trade Finance – trade finance for exporters, trade finance for importers, foreign currency
loans, correspondent banking
• Insurance - Non life Insurance – Corporate Agency, Insurance- Corporate Agency
• Syndication of Loans
• MSME Banking
• Loans & Policies

Internet Banking

• Account Information
• Transfer of Funds
• Bills
• Requests

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 • Mails
• Trade
• Limits

• Currency
• Uploads
• Customization
• Financial enquiries
• Non Financial enquiries

Vision, Mission and Values:

VISION
To be the premiere financial institution in the emerging markets
Technologically Strong
Financially Sound
All India presence
Personalized Services
Value Maximization
Employee Satisfaction
Skill Maximization

MISSION
To be premiere bank, responsive to the needs of our target market customers, recognized for
consistently superior service quality innovative products ,thereby delivering superior value to our
shareholders

CORE VALUE

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CUSTOMER FOCUS
Relentlers focus in understanding and fulfilling customer needs through superior service

INNOVATION
Continually generating validates and implement creation solution to business challenge

MERITOCRAYC
Ensure a fair recruitment process and closely line recognized and reward to performance against
goals irrespective of personal relationship, gender, religion

TEAMWORK
Share the glory of achievement as well as responsibility for failure.

SWOT ANALYSIS

A SWOT analysis is used as a framework to help the firm develop its overall corporate, marketing
or product strategies. Strengths and Weaknesses are internal factors, which are controllable by the
organization. Opportunities and threats are external factors, which are uncontrollable by the
organization.

During My internship period, I closely studied the SWOT of Union Bank Limited and is described
below

STRENGHTS

Excellent Customer Services

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Union Bank provides excellent customer services and constantly makes the improvements through
its state of the art programs CMP (Complaint Management Program), ISM (Internal Service
Measurement)
MSP (Mystery shopping Program) and CSS (Customer Satisfaction Survey).

Real Time Online Services

Union Bank offers real time online services to its customers. Its branches are connected and
supported by a sophisticated Computerized Network that makes use of real time online softwares.
No matter where the customer holds his/her account, to him, any branch is like his/her own branch
moreover, Union Bank has 24 hours state of the art call center that helps out customers.

It has also introduced Internet banking and has launched a unique debit card, which is called the
"shopping card". It is an internationally accepted debit card and is linked to all of customer’s
current account, savings account, and personal loan account and can accessed overseas through the
Visa network. Union Bank was the first only bank to offer this service in India to their customers.

Innovative IT Technology

To increase employees work efficiency, Union Bank makes use of high-end distributed softwares
such as Autos Tracking System, OSMS and CTL, Lotus Notes. Such softwares immensely increase
work efficiency of employees as well as business processes and reduce the chance of error.

Seasoned Employees

Union Bank benefits from a strong independent local management team with a wealth of
experience from leading international banks. Union Bank keeps most qualified and experienced
staff. Most employees are rendering their services in the banking sector for more than a decade.
Yet they encourage the young talent for they are well aware of their long-term investment.

Increased Employee Productivity through Training and New Techniques

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Union Bank always seeks to increase employee productivity through a combination of training and
implementation of modern human resource techniques. Frequent in-house and external training
programs, seminars are carried out to help the Bank in maintaining and developing an efficient
work force.

Culture of Working towards Cooperate Goals

Union Bank’s organizational members are its strongest asset who together work towards the
attainment of cooperation goals through dedication and devotion.

Well-Diversified Consumer Portfolio

Union Bank’s has well-diversified consumer portfolio. This diversification is giving it immense
profitability and respect within society. It can be judged from following

WEAKNESSES

Lack of Sophisticated Performance Related Incentive Systems

Union Bank provides worthy allowances to its permanent staff in Branch Banking. However most
staff in Consumer Banking is not completely satisfied with the inducements. This dissatisfaction
sometimes leads to less motivated employees in consumer banking which in turn can affect its
business efficiency. Moreover, permanent staff is not given any performance related incentives. As
a result of this, an inefficient manager or employee is earning the same as an efficient employee
who is the real asset for the organization.

Low Brand Loyalty

Union Bank has still not got the edge where the consumers become loyal to its products and
services. Mostly customers become its customers out of no reason than request from a personal
banker. And talking about consumer banking, though credit cards awareness in our middle class
society has gradually improved but not up to the point where they can compare the perks that one

12
Bank is offering and other is not. Truth must be said, most customers do not even know the
intricacies behind the term “interest free days”. The point is, consumers do not know of the product
being offered so how can they become brand loyal?

We can say that Autos is a business where consumers can become for consumers are associated
with it for more than a decade unlike credit cards but UBL and many other banks are leading the
market and hence consumers are more loyal to them and will continue unless Union Bank
upgrades its Autos Financing System by focusing consumers.

Lack of Promotional Activities

Union Banks Services and products are excellent but I feel that there is a lack of appropriate

promotion of these innovative products and services e.g. being an American Express card holder, I

did not know that Ufone and Union Bank has special alliance that facilitates to avail free Ufone

connections and Ufone special packages with International Roaming, GPR.

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 Objective Of Study

Project study which is being conducted by me for the last two month is not only a formality for the

fulfillment of the two year full time Post Graduate Diploma in Business Management. But being a

management student and a good employee I tried my best to extract best of the information

available in the market for the use of society and people. The objectives have been classified by me

in this project form personal to professional, but here I am not disclosing my personal objective

which has been achieved by me while doing the project. Only professional objectives which are

being covered by me in this project are as following-

 The foremost objective of this study is to come across different types of account and to

know how to maintain such account

 The objective of this study is to find out the different ways of transferring the funds from

one bank to another banks

 The primary objective of this project is to find out the lacunas in different products and

how the union bank has to work on these fields to overcome these drawbacks.

 One of the most important objective of this report is to become familiar with different

terms and to know how they work.

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 Scope of the Study
Each and every project study along with its certain objectives also has scope for future. And this

scope in future gives to new researches a new need to research a new project with a new scope.

Scope of the study not only consist one or two future business plan but sometime it also gives idea

about a new business which becomes much more profitable for the researches then the older one.

Scope of the study could give the projected scenario for a new successful strategy with a proper

implementation plan. Whatever scope I observed in my project are not exactly having all the

features of the scope which I described above but also not lacking all the features –

 Research study could give an idea of network expansion for capturing more market and

customer with better services and lower cost, with out compromising with quality.

 In future customer requirements could be added with the product and services for getting an

edge over competitors.

 Different parameter could also be used for the purpose of launching a new product with

extra benefits which are required by customers.

 Factors which are responsible for the performance for bank can also be used for the

modification of the strategy and product for being more profitable.

These all could also be interchanged with each other for each other in banks strategies for making

a final business plan to affect the market with a positive way without disturbing a lot to market,

customers and competitors with disturbance in market shares.

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SOURCES OF PRIMARY AND SECONDARY DATA:

For the purpose of project data is very much required which works as a food for process which will

ultimately give output in the form of information. So before mentioning the source of data for the

project I would like to mention that what type of data I have collected for the purpose of project

Primary Data:

Source from where first hand information are gathered directly are called primary source and

information thus collected is called primary data. Primary data is basically the live data which I

collected on field while talking with the employees and I shown them list of question for which I

had required their responses. In some cases I got no response form their side and than on the basis

of my previous experiences I filled those fields.

Source: Main source for the primary data for the project was my face-to-face conversation which

I got by the employees or some times filled myself on the basis of discussion with the employees.

Secondary Data:

The data that are collected for other purposes already exist somewhere is called secondary data.

Secondary data for the base of the project I collected from intranet of the Bank and from internet.

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 DATA ANALYSIS

Vouchers Audit

One of my regular duties was to carry out the audit of debit and credit vouchers. This department
comes under Mr. Ashok who is Operations Control Officer at Union Bank and I worked under his
supervision. Audit of vouchers is a lengthy and tedious and hence wearisome process. It requires
constant attention and any negligence can lead to fanatic situation.

Firstly we have to sort all the vouchers in the same order as it appears on the TRL (Transaction
List) so that it could become easier to match the vouchers with their corresponding entry on the
list. Once sorted, each and every voucher is carefully examined for stamps and signatures and also
that none are post dated or stale. After satisfying ones self, the transaction on the TRL is
underlined.

Any objection in the vouchers is reported and is taken care of accordingly. The purpose of
matching is to make sure the cashier did not miss anything and all the transactions were made
correctly.

In the end, the transaction list is revised to make sure that no transactions were overlooked and that
every transaction that appears on the TRL is underlined, a transaction that is not underlined
suggests that the related voucher is missing.

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My job as CRO (Customer Relationship Officer)

My job as CRO was a completely new and exciting experience. CRO is a person who
interacts with every customer who steps into the bank and guides him/her according to his
need and business. I do not think I have interacted with such large number of people as CRO
in these six weeks than in my whole life.

As CRO, I learnt a lot of things, not only work related or career related but things, which are good
for one’s character as well. For instance in my experience I learnt how to be patient when dealing
with customers, it became so irritating at times. But then looking around, and seeing how the other
colleagues worked with customer’s everyday and observing their tactics made me realize the art.

Every customer who arrives at the Bank needs a different treatment because different
customers belong to diverse backgrounds and set of values and beliefs. Some are educated,
others uneducated and cannot even write, some are rude, other are cooperative and polite,
some are in urgent need while others are more trivial, some need an outstanding treatment
and are fully aware of their rights as customers whereas others are afraid of asking even for
their rights. I had to interact with all and guide them.

I also guided customers who interacted through phone and this requires immediate feedback,
good communication, quick thinking and fast decision-making skills. This interaction with so
many people built huge confidence in me.

I also maintained the record of outward and inward mails, which included OBC as well, that
are received on daily bas

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Maintaining CBR, CBI and Debit Cards Record

During my internship, I worked in CRD (Customer Relationship Department) under the

direct supervision of Ms. bheem who serves as Customer Relationship Manager at Union
Bank. I was also assigned the duty of maintaining the record of chequebooks and shopping
cards. Chequebooks arrive from Head Office at Mumbai within 15 days receiving
chequebook requests. The request is received on CBR (chequebook request form) from
customer. All the requests at the end of the day are sent to head office through Union Bank’s
special online system OSMS. The next day, chequebooks arrive through courier service. An
entry is made in OSMS confirming that chequebooks have arrived.

The record of these received chequebooks is maintained manually in a register to take

customers signature upon receiving. The customers are informed through telephone to come
and collect their chequebooks. Upon customer arrival, CBI (chequebook issuance) that is in
the chequebook is signed by the customer and is kept safely for record whereas the CBR
initially given by customer is returned because CRD does not need it any more. Another
signature of customer is taken on chequebook register.

A customer can also authorize a person to collect his/her chequebook if he/she cannot come
in person. The account holder fills out an authorization form and authorized person ID card
is submitted and signatures of both are taken. The authority holder can be one time or full
time.
Rests of the chequebooks that are not delivered on that day are kept safely in the locker
room. If a customer does not come to collect his chequebook within 90 days, they must be
destroyed. Ten days before destruction, the customers are again informed to receive their
chequebooks

Who are Customers and Non Customers?

Union Bank keeps the distinction between customers and non-customers. According to Union
Bank, individuals who possess account with Union Bank are their customers and those who do not
19
are non-customers. To become a customer, an individual opens an account with Union Bank as
follows.

How an Account opens?

Account opening is the first step towards establishing banker-customer relationship. A written
contract in the form of Account Opening Form (AOF) attached at the end of report must be
completed and signed by the customer who desires to open an account with the bank. The
customer submits the required information and submits the required documents.

How to make a deposit?

To make a deposit, customer needs to fill out a deposit slip attached at the end of report. Deposit
can be made through cash, cheque or draft. When the customer’s desired account is actually
debited, depends on the nature of instrument presented. For example if the cheque presented needs
to be launched in clearing then the transaction cannot take place immediately as in the case of cash
deposit or Union Bank crossed cheque deposit. Deposit voucher is marked with a number of
stamps and can be signed by a number of employees. A deposit voucher must not contain any over
writing or extra markings. During audit of deposit vouchers, a number of things must be carefully
checked.

How inquires about account balances are handled?

Customers can inquire about their account related information by providing the account number on
phone or by coming in person. Customer satisfaction is priority of Union Bank. The culture of
Union Bank is to receive the phone call in maximum three rings. This culture helps Union Bank to
maintain its position as a leader in providing best customer services in banking sector.

Debit Card / Shopping Card

When a customer opens an account with Union Bank, he/she can request for a shopping card free
of charge for the first time. This shopping card can be used 24 hours to withdraw cash through
ATM machine. The request for shopping card is sent to the head office Karachi, where they are
produced and delivered to different branches. The maximum cash of 25000 can be withdrawal in a
day through ATM or debit card. The maximum limit of cash withdrawal depends on how much
customer deposits in his/her account.
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Types of accounts

To open any account, a different set of documents and proofs are required

 Individual Account

An individual account is the property of only a single individual and hence only that
individual’s signature or presence is required to carry out certain activities.

 Joint Account
Two or maximum four individuals possess joint account. In this case, it is possible that one
of the two individuals can carry out the transactions with his authority alone.

 Sole Proprietor Account

This account requires Rubber Stamp, CNIC, request for opening sole proprietor account on
firm's letterhead and NTN certificate.

 Partnership account
This account requires Rubber stamp, List of partners, Partnership deed, Registration of
Partnership, request for opening sole proprietor account on firm's letterhead and NTN
certificate.
This account requires Memorandum of Association, Article of Association, List of
Directors, Certificate of Commencement of Business (only for Public limited companies),
NTN certificate, Rubber Stamp, Board Resolution, NIC of all Directors and Registration of
Company.

 Association/Trust/Club/Society Account

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 This type of account requires NIC, Rubber Stamp, List of Members, Resolution, Copy of
Rules, and Copy of By-Laws.

Types of Cheques

 Self or Bearer
A self or bearer cheque is a type of cheque that can be cashed. The person who presents the
cheque is paid the amount written on the cheque.

 Crossed Cheques

 Order cheque
In order cheques, the name of person is mentioned who is eligible to get cash, the person
has to show NIC to get the cash.

Stale Cheque
A cheque is stale if it has completed its six months limit and it sort of expires and cannot be
presented for withdrawal.

Post-Dated Cheque
A cheque is post dated if it is presented but it face date is some future date.
only be transferred into an account. They cannot be cashed. There are two

Funds can be transferred through following security leaves

Pay order
To transfer funds within the city, an account holder can make use pay order. The advantage
of pay order against cheques is that the bank gets involve at two points. At first the pay
order has to be made from bank and the second point where the pay order will be presented

22
 for withdrawal. Pay order is used to transfer funds in the account of the beneficiary
however, if the account does not exist then the signatures of two bank officers are required
to cancel the effect of payee's account only.

Demand Draft (DD)

The difference between pay order and DD is that, DD is used to transfer funds between cities.

Telegraphic Transfer (TT)

Telegraphic transfer is a fast way to complete transaction. To make TT, .1 % of the amount
transferred or 200, which ever is higher, is charged to the customer. The customer fills out
funds transfer request form and pays cash.

Types of Accounts

Union Bank offers its customers to open different types of accounts, these include

Current Account

Current account is a deposit account subject to withdrawal on demand. This account does not bear
any interest. A maintenance fee of 200 is charged to accounts that do not maintain a minimum
average balance of 100000. Further types of current accounts are

UNB Saving Account

Saving account is an interest bearing account. The minimum average balance requirement of
saving account is Rs. 1000. It is the latest addition to Union Bank's ever-increasing portfolio of
products. This product offers a good rate of return and profit is paid out on a six-monthly basis.

ONLINE UNION BANK SERVICE

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Union Bank Of India Online Services are available through the Internet. Internet Banking is the
facility which allows the customer to do banking Transactions through the Internet. Union Bank Of
India Online Banking offers a convenient way of banking to the customers and his banking needs
can be sourced without him physically visiting any of the branches, some times right at his

Business place, residence, market or even while traveling. Union Bank Of India Online Service is
available to the customers of Core Banking Branches of the Bank. Services offered through Union
Bank Of India Online Banking are:

• Account Information: The user can get the information of the operative accounts, deposit
accounts, loan accounts and all other accounts.

• Transfer of Funds: Under this option the user gets the facility to transfer funds between
different accounts.
• Bills: This option is meant to facilitate payment of bills.

• Requests : A variety of request options are available to the user under this module. All the
requests are to be attended end to end by the Relationship Manager of the branch.

• Mails : Every user of Union e-banking Retail service is linked to a Relationship Manager
who looks into the mails and requests made by the user. For this purpose the user is
provided with a mail option, which he can use for communicating with the Relationship
Manager.
• Trade : The trade module gives query on status and history.

• Limits : The limit module enables the corporate to query upon the various limits
sanctioned to it by the Bank. The corporate also gets the status of utilization against each of
these limits both in rupee terms and in percentage terms.

• Currency : All the transaction options available in Union e-Banking corporate module of
Internet baking are in Indian rupee INR only.

• Uploads : The Union e-Banking corporate allows bulk upload of both debits and credits
type of transactions. The corporates can use this facility for salary disbursements, dealer
credits and dealer debits where the debits and credits are intended to several accounts at a
time.
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 • Customization : This option enables the user to customize the Internet Banking options

• Activity : The option enables the user to query on his own activities

ONLINE FUNDS TRANSFER TO OTHER BANKS

UNION BANK has also provide the facility of online transfer of fund to other banks
Both RTGS AND NEFT are available as a single module inside our banking application

Real Time Gross Settlement is a funds transfer mechanism where transfer of money takes place
from one bank to another on ‘real time’ and on ‘gross basis’. This is the fastest possible mode of
money transfer through bank channel ‘available in India. RTGS is primarily for large value
remittances. The minimum amount to be remitted through the RTGS is 1lac.

NEFT is used when money below 1 lac is transferred from one bank to another

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 CONCLUSION
The economy of the country is booming and with the investment favorable policies and their
smooth implementation, the role of banks in today s’ economy has become an important one.
The banking industry is also reaping the fruits of this economic boom by growing rapidly over the
past few years. There are a number of mergers happening in the economy with foreign investment
coming into the banking sectors.
The services that Union bank provides have a great market penetration not only because of their
features but also the profit and markup rates that they charge.
Furthermore, as the bank is growing, the number of employees at Union bank are also increasing ,
which shows that Union bank is being considered as a an employer, that provides its employees
with a challenging environment to work in, where they can harness their full potential and shows
confidence as an employer by the employees of the bank.
In the last section, I would like to give some recommendations and is hoped that if they are
implemented will bring benefits to UNION BANK OF BANK

26
 RECOMMENDATIONS

Some of the recommendation that I would recommend to some of the problems discussed in the
above section, that might the efficiency of both the operations and employees of union bank are as
follow:
Technological Advancements:
Union bank should develop a modern connectivity architecture to effectively maintain an online
connection of the branch and also the ATM links, which may include using modern technologies
like fiber cables, routers etc. Also backup links should also be developed. Also a proper should be
established in all branches, with professional having the knowledge to maintain a secured
connection with other banks. Also scheduled backups of data should be done with in the bank.
Placements of employees:
There are some departments in the bank that do not have enough employees. This creates
inefficiencies and so the operations manager should look at the department and hire individuals
where there are less employees or rotate employees from other departments.
Amenities in branch:
There should be a common room in all the branches. Also work like storing, which takes up a lot
of space done in a separate place and amenities like television and internet connection should be
placed in the common room, so as to give employees a relaxing environment when they have a
break.

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 BIBLIOGRAPHY

 Union bank (www.unionbankofindia.com)

 The Hindustan Times Newspaper (www.hindustan times .com)
 Wikipedia (www.wikipedia.com)
 Annual Report Union Bank of India 2009-10
 Economics survey 2010
 www.rupeetimes.com

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