BES’s INSTITUTE OF MANAGEMENT STUDIES AND RESEARCH

(Approved by AICTE & Affiliated to University of Mumbai)

Summer Internship Report

On

5th floor, 66/80,

mumbai samachar marg,
Fort, mumbai.400023
Contact No: +912222642701

BY

Abhishek Krishnakumar Rane.

Roll No.39

MMS 2010-12

May 2011

1
 A
PROJECT REPORT
ON

IN PARTIAL FULFILLMENT OF THE REQUIREMENT OF

MASTER OF MANAGEMENT STUDIES
CONDUCTED BY
UNIVERSITY OF MUMBAI
THROUGH
BES’S INSTITUTE OF MANAGEMENT STUDIES AND RESEARCH
UNDER THE GUIDANCE OF

Porf. Mr. Kanpurwala.

SUBMITTED BY
Abhishek Krishnakumar Rane.
MMS
Roll No.39

2
 DECLARATION

I hereby declare that the Summer Internship Report submitted

for the MMS Degree, BES’s Institute of Management Studies
and Research (Affiliated to University of Mumbai) is my original
work and conducted in Union Bank of India (IFB).

Place: Mumbai

Date: 21st July, 2011.

Signature of the Student

3
 ACKNOWLEDGEMENTS

I wish to express my gratitude to Mr. P .M .PATEL & Mr. ASHEESH PANDEY

from the Union Bank of India for providing me valuable information.

I am grateful to BES’s Institute of Management Studies and Research for giving

me an opportunity to pursue MMS. I wish to thank Professor Vikram D. Shikhare,
Director, BES’s Institute of Management Studies and Research who has been a
perpetual source of inspiration and offered valuable suggestions to improve my
practical Knowledge.

I am indebted to my Coordinator Mr. Kanpurwala Professor, BES’s Institute of

Management Studies and Research, for abundant guidance, support, and
encouragement throughout my internship Study.

I would like to express my thanks to various people from the Union Bank of
India for their support and direction.

Place: Mumbai

Date: 21st July, 2011

Signature of the student

Abhishek Krishnakumar Rane.

4
Sr. Contents Page No.
No.
1 Executive summary 1
2 Introduction banking industries 2
2.1 Global scenario of banking industry 5

2.2 Indian scenario of banking industries 6

2.3 Position of all banking industry in India 9
3 Union bank of India 10
3.1 About the bank
3.2 Our Vision
3.3 Mission
3.4 History 11
3.5 Products & Services
4 About the Branch:- IFB (Industrial Finance Branch) 12
4.1 Form of Management 13
5 Union bank of India CSR activities 14
6 Financial Position of union bank of India 16
6.1 Key performance indicators
6.2 Business Performance
6.3 Financial Performance
7 Current Strategies of Company 17
8 External Environment of the Company 18
8.1 Swat analysis of union bank of India

8.2 Internal Environment of the Company

8.3 Number of Departments: In Industrial finance branch 19

9 Marketing 20
9.1 Recovery of Credit 22
9.2 Grievance Redressal 24
9.3 List and profile of Local Competitor for industrial finance branch
10 Finance 25
10.1 Financial performance of union bank of India
10.2 Listing in share market
10.3 Table of share price for six months of Union Bank of India 26
10.4 CRISIL Rating for Union Bank of India
10.5 CHEQUE COLLECTION POLICY 28
10.6 profit and loss statement 32
10.7 Balance sheet 33
10.8 Tax provision and other provision 34
10.9 Key ratio of Union Bank of India
11 Operation and Production 35

11.1 Steps in term loan assessment 36

5
 11.2 MARKET FEASIBILITY 37
11.3 ORGANIZATIONAL/MANAGERIAL FEASIBILITY 38
11.4 TECHNICAL FEASIBILITY
11.5 FINANCIAL FEASIBILITY 39
11.6 Credit report & Credit Rating 40
12 Personal and HR department 42
12.1 Recruitment
12.2 Training and development
12.3 Performance appraisal forms of Union Bank of India (IFB) 44
13 MIS or IT Department 45
13.1 Workflow for Information system in Union Bank of India (IFB)
13.2 Application of Software & Hardware 46
14 Other aspect of bank 47
14.1 awards / certificates received by bank 48
14.2 Legal Compliances of Company

15 Problems or Issues in Union Bank of India IFB 55

16 Solutions of problem and issues 56

17 Recommendations 57
18 Learning 59
19 Bibliography 60

6
1. EXECUTIVE SUMMARY
I work in IFB (Industrial finance branch) on the POWER PROJECT the aspect of the
power project finance and work done on “OPPORTUNITIES IN POWER SECTOR
AND ITS CREDIT VIABILITY” in this we learn the how the finance institution are
provide finance for this sector. The Union Bank of India is providing the finance in
three main sectors like PORT, POWER, and ROAD projects.

Availability of power is one of the important ingredients for industrial growth. It is an

important infrastructure facility without which no industrial activity can be thought of
in modern times. Increasing automation of Indian industries has created huge
demand of power in India. This huge demand has resulted into demand supply gap
in India in recent times. The main purpose of the project is to understand the whole
concept of Project financing, and its methods and needs of project financing. The
objective of this report is to get a comprehensive and apparent knowledge of the
power sector, and to study the changes in power sector over a period of time there
by analyzing various aspects of the power sector.

This study examines the power project finance in India. The power sector has
increased significantly during the last decade and has met the needs of the people in
India. This study evaluated project structure, risk allocation, and other issues. This
study benefits from a substantially greater base of activity to systematically evaluate
power project finance sources, project and financial structures, and other factors for
the entire market.

The objectives of this study were to evaluate trends in power project finance and to
examine the risk-sharing arrangements between private investors and host
governments that enable private power projects to obtain non-recourse finance.

A key objective was to assess financing structures, sources of funds, and regulatory
trends for a subset of the power market involving limited. Recourse finance of power
projects that sell power to utility off-takers but that are not majority-owned by the off-
takers.

This study also includes how the credit disbursement takes place at the UBI and the
process involved in it. The various analyses about the financial statements and the
profitability and the DSCR.

1
2. Introduction

Banking industries

Bank may be defined as a financial institution which is engaged in the business of

keeping money for savings and checking accounts or for exchange or for issuing
loans and credit etc. A set of services intended for private customers and
characterized by a higher quality than the services offered to retail customers.

Based on the notion of tailor-made services, it aims to offer advice on investment,

inheritance plans and provide active support for general transactions and the
resolution of asset-related problems.

The essential function of a bank is to provide services related to the storing of

deposits and the extending of credit. Basic function may include Credit collection,
Issuer of banking notes, Depositor of money and lending loans.

Now a day‘s banking is not in its traditional way , with the advancement of
technology its focusing on more comfort of customer providing services such as:

• Online banking
• investment banking
• electronic banking
• internet banking
• pc banking /mobile banking
• e-banking

The importance of banking sector is immense in the progress and prosperity of any
State or country.

The economic progress and prosperity comes from the well-rounded development
and an impeccable banking management. Banks in general, governmental and
private, have eased our financial transactions, security, and facilitated the funding for
establishing a business or industry.

Business banking industry is the industry in business banking dealing with the
different banking transactions which take place while conducting a business.
Business banking can also be referred to as commercial banking. Business banking
industry deals with all the functions ranging from transferring funds, business loans,
online business transactions etc.

The success of a business largely depends on selecting the correct bank for carrying
out all the transactions efficiently.

Banks falling under the category of business banking industry offer different charges
and rates for the different business banking services. One needs to check and
compare the charges offered by the different banks.

2
One needs to understand that opening an account under the business banking
industry is vital as one is expected to maintain a long relationship with
the bank offering business banking services. Many prefer to bank with the
same bank where one has the personal bank account. If an individual has
maintained a good track record during the tenure of personal banking , it can work to
ones advantage for availing the different business banking services offered by
the business banking industry.

The bank is required to have a business banking team

Services offered by the business banking service team

Cost of the services offered by the bank offering business banking

services under business banking industry.

Whether the bank offering business banking services imposes fee for every single
transaction or a lump sum for a particular category of transaction. There are
some banks which impose fees for performing monetary transactions on behalf of
the business banking account holder. One needs to clarify the same.

The business banking industry also requires that the bank offering business banking
services should have a local branch situated in the city of the business banking
account holder. Once a bank is selected an individual is required to open an
account. The type of account one should go for is determined by the number of
transactions taking place every day.

Under the business banking industry the following types of business banking
accounts may be required by an entrepreneur. Current account: This can be used for
carrying out everyday transactions including payments, taking deposits.

Instant access deposit account :

This type of bank account is not needed for daily transactions.

Term deposit account:

In this type of account, the money is not required for the daily transaction. Not only
that the money is not likely to be required for quite some time.

Foreign currency account:

A foreign currency account is required when an entrepreneur wishes to trade in a
foreign country.

Loan account:
When an entrepreneur is intending to take a loan for business purpose.

Merchant account:
With the help of a merchant account, one is able to carry out transactions involving
credit cards and debit cards.

3
There are some banks which impose fees and charges for every transaction made.
There are yet others whose fee system may be different.

Changing banks according to ones convenience:

In the event when one is not happy with the services of the existing bank providing
the business banking services, one may at ones change banks for better services.

Transaction with foreign currency:

If an individual needs to constantly deal with foreign currency as part of one‘s
business requirements, one should check as to how the bank offering
business banking facilities with regard to the following matters:

Offers guidance with regard to dealing with ones business products in the light of
foreign countries as well as foreign currency. How one should restructure ones
strategy with the changing currency rates and the risks involved in the same. The
utilities in carrying out transaction with foreign currency.

Providing credit cards and debit cards for ones business:

The bank providing business banking facilities should also provide debit
cards or credit cards which are universally accepted.

Business banking industry requires that the bank should provide debit cards or credit
cards to individuals offering the maximum or optimum advantages as per the
requirements of the business banking holder.

Accepting payments by means of credit cards as well as debit cards:

One should furnish all the details of one‘s business to the bank offering business
banking services. One can avail of a card transaction system by fulfilling the
formalities with the bank. The risks involved in accepting payments by plastic
cards should be reckoned.

Payments online:
If a business firm decides to accept payments through the Internet, appropriate
arrangements in accordance to the banking norms are to be set up for carrying out
transaction on line.

Online transactions are more susceptible to fraud and one needs to be extra careful
if at all an online payment acceptance method is opted for.

4
2.1 Global scenario of banking industry

The world of commercial banking is undergoing a deep transformation as a result of

marketable instruments competing with loans and demand deposits. Because of this
strong competition, commercial banks are struggling to make acceptable margins
from their traditional business entering into investment banking.

Increasing competition has forced banks to search for more income at the expense
of more risk. Banks that lent heavily to Asia in search of better returns than those
available in Western markets are now being blamed for bad credit decisions. The
Asian crisis has renewed interest on credit risk management casting doubts on the
effectiveness of current credit regulations.

Technological changes have also heightened competition by making it easier to

imitate bank services. The traditional advantage of physical proximity to clients given
by extended networks of branches has vanished. Banks have to compete with
money market mutual funds for deposit business, commercial papers, and medium-
term notes for bank loans. As margins are squeezed, commercial banks in the
United States and Europe have been forced to cut costs and branches while
diversifying into pensions, insurance, asset management, and investment banking.
In the United States, many banks call themselves financial service companies even
in their reported financial statements.

Diversification, however, has not always proved to be an effective strategy, and

many banks have had to revert to a concentrated business. These examples
illustrate how commercial banks are reinventing themselves, not just once but many
times. All these changes are creating an identity crisis for old-fashioned bankers,
leading to the key question, ―What is a bank today?‖ The question is difficult, but
evidence suggests that the concept of banking is being modified and the traditional
barriers among financial service sub industries (retail banking, private banking,
investment banking, asset management, insurance, etc.) are vanishing.

Illustrating what an entity does or serves for often is a useful way to define it. The
identity crisis of banks—especially commercial banks stems from the deep and rapid
changes in their traditional body of activities (particularly retail and corporate
banking). On the other hand, investment banking, private banking, and banc
assurance are the most profitable and fastest growing segments of the financial
service industry.

As banks undertake new activities, they also incur new risks. Since boundaries
among sub industries are weakening, if not vanishing, banks like all other financial
service companies must redefine themselves in terms of the products they offer and
the customers they serve.

The way banks pursue this redefinition is through a strategic repositioning in the
financial service industry. All these factors represent a new challenge for commercial
banks, provided this definition still has a unique meaning. Increased competition,
diversification, new products, and new geographic markets mean that both the
spectrum of risks and the risk profile for banks are dramatically changing. Not only
have the risk parameters broadened, they have also changed: banks now face

5
unfamiliar types of risk. In addition to the traditional credit risk, financial risk1 has
risen and is now playing a crucial role. Banks thus need integrated risk management
techniques that can measure and manage market risk in a timely and effective
manner.

2.2 Indian scenario of banking industries

Banking in India originated in the last decades of the 18th century. The first banks
were The General Bank of India, which started in 1786, and Bank of Hindustan,
which started in 1790; both are now defunct. The oldest bank in existence in India is
the State Bank of India, which originated in the Bank of Calcutta in June 1806, which
almost immediately became the Bank of Bengal.

This was one of the three presidency banks, the other two being the Bank of
Bombay and the Bank of Madras, all three of which were established under charters
from the British East India Company. For many years the Presidency banks acted as
quasi-central banks, as did their successors. The three banks merged in 1921 to
form the Imperial Bank of India, which, upon India's independence, became the State
Bank of India.

Indian merchants in Calcutta established the Union Bank in 1839, but it failed in
1848 as a consequence of the economic crisis of 1848-49. The Allahabad Bank,
established in 1865 and still functioning today, is the oldest Joint Stock bank in
India.(Joint Stock Bank: A company that issues stock and requires shareholders to
be held liable for the company's debt) It was not the first though.

That honor belongs to the Bank of Upper India, which was established in 1863, and
which survived until 1913, when it failed, with some of its assets and liabilities being
transferred to the Alliance Bank of Simla.

When the American Civil War stopped the supply of cotton to Lancashire from
the Confederate States, promoters opened banks to finance trading in Indian cotton.
With large exposure to speculative ventures, most of the banks opened in India
during that period failed.

The depositors lost money and lost interest in keeping deposits with banks.
Subsequently, banking in India remained the exclusive domain of Europeans for next
several decades until the beginning of the 20th century.

Foreign banks too started to arrive, particularly in Calcutta, in the 1860s.

The Comptoire d'Escompte de Paris opened a branch in Calcutta in 1860, and
another in Bombay in 1862; branches in Madras and Pondicherry, then a French
colony, followed. HSBC established itself in Bengal in 1869. Calcutta was the most

6
active trading port in India, mainly due to the trade of the British Empire, and so
became a banking centre.

The first entirely Indian joint stock bank was the Oudh Commercial Bank, established
in 1881 in Faizabad. It failed in 1958. The next was the Punjab National Bank,
established in Lahore in 1895, which has survived to the present and is now one of
the largest banks in India.

Around the turn of the 20th Century, the Indian economy was passing through a
relative period of stability. Around five decades had elapsed since the Indian Mutiny,
and the social, industrial and other infrastructure had improved. Indians had
established small banks, most of which served particular ethnic and religious
communities.

The presidency banks dominated banking in India but there were also some
exchange banks and a number of Indian joint stock banks. All these banks operated
in different segments of the economy. The exchange banks, mostly owned by
Europeans, concentrated on financing foreign trade.

Indian joint stock banks were generally undercapitalized and lacked the experience
and maturity to compete with the presidency and exchange banks. This
segmentation let Lord Curzon to observe, "In respect of banking it seems we are
behind the times. We are like some old fashioned sailing ship, divided by solid
wooden bulkheads into separate and cumbersome compartments."

The period between 1906 and 1911, saw the establishment of banks inspired by
the Swadeshi movement. The Swadeshi movement inspired local businessmen and
political figures to found banks of and for the Indian community. A number of banks
established then have survived to the present such as Bank of India, Corporation
Bank, Indian Bank, Bank of Baroda, Canara Bank and Central Bank of India.

The fervour of Swadeshi movement lead to establishing of many private banks

in Dakshina Kannada and Udupi district which were unified earlier and known by the
name South Canara ( South Kanara ) district.

Four nationalised banks started in this district and also a leading private sector bank.
Hence undivided Dakshina Kannada district is known as "Cradle of Indian Banking".

During the First World War (1914-1918) through the end of the Second World
War (1939-1945), and two years thereafter until the independence of India were
challenging for Indian banking.
The years of the First World War were turbulent, and it took its toll with banks simply
collapsing despite the Indian economy gaining indirect boost due to war-related

7
economic activities. At least 94 banks in India failed between 1913 and 1918 as
indicated in the following table:

Number of banks Authorised capital Paid-up Capital

Years
that failed (Rs. Lakhs) (Rs. Lakhs)

1913 12 274 35

1914 42 710 109

1915 11 56 5

1916 13 231 4

1917 9 76 25

1918 7 209 1

8
2.3 Position of all banking industry in India

Sr. Nationalized Deposits Advances Interest Net NPA as

No bank Income %
Net advances
1 Allahabad Bank 84972 58802 7365 0.72
2 Andhra Bank 59390 44139 5375 0.18
3 Bank of Baroda 192397 143986 15092 0.31
4 Bank of India 189708 142909 16437 0.44
5 Bank of 52255 34291 4292 0.79
Maharashtra
6 Canara Bank 186893 138219 17119 1.09
7 Central Bank of 131272 85483 10455 1.24
India
8 Corporation 73984 48512 6067 0.94
Bank
9 Dena Bank 43051 28878 3448 0.24
10 Indian Bank 72582 51465 6830 0.81
11 Indian Overseas 100116 74885 9641 1.33
Bank
12 Oriental Bank of 98369 68500 8856 0.65
Commerce
13 Punjab and Sind 38766 24615 3247 0.32
Bank
14 Punjab National 209760 1541703 19326 0.17
Bank
15 Syndicate Bank 115885 81532 9580 0.77
16 UCO Bank 100222 68805 8121 1.18
17 Union Bank of 138703 96534 11889 0.34
India
19 United Bank of 54536 35394 4312 1.48
India
20 Vijaya Bank 54535 35468 5238 0.83

9
3. Union bank of India

3.1 About the bank:

Union Bank of India is firmly committed to consolidating and maintaining its identity
as a leading, innovative commercial Bank, with a proactive approach to the changing
needs of the society. This has resulted in a wide gamut of products and services,
made available to its valuable clientele in catering to the smallest of their needs.
Today, with its efficient, value-added services, sustained growth, consistent
profitability and development of new technologies, Union Bank has ensured
complete customer delight, living up to its image of, ―GOOD PEOPLE TO BANK
WITH‖. Anticipative banking- the ability to gauge the customer's needs well ahead of
real-time - forms the vital ingredient in value-based services to effectively reduce the
gap between expectations and deliverables. The key to the success of any
organization lie with its people. No wonder, Union Bank's unique family of about
26,000 qualified / skilled employees is and ever will be dedicated and delighted to
serve the discerning customer with professionalism and wholeheartedness. Union
Bank is a Public Sector Unit with 55.43% Share Capital held by the Government of
India. The Bank came out with its Initial Public Offer (IPO) in August 20, 2002 and
Follow on Public Offer in February 2006. Presently 44.57 % of Share Capital is
presently held by Institutions, Individuals and Others. Over the years, the Bank has
earned the reputation of being a techno-savvy and is a front runner among public
sector banks in modern-day banking trends. It is one of the pioneer public sector
banks, which launched Core Banking Solution in 2002. Under this solution
umbrella, All Branches of the Bank have been 1135 networked ATMs, with online
Tele-banking facility made available to all its Core Banking Customers - individual as
well as corporate. In addition to this, the versatile Internet Banking provides
extensive information pertaining to accounts and facets of banking. Regular banking
services apart, the customer can also avail of a variety of other value-added services
like Cash Management Service, Insurance, Mutual Funds and Demat. The Bank will
ever strive in its endeavour to provide services to its customer and enhance its
businesses thereby fulfilling its vision of becoming
“THE BANK OF FIRST CHOICE IN OUR CHOSEN AREA BY BUILDING
BENEFICIAL AND LASTING RELATIONSHIP WITH CUSTOMERS THROUGH A
PROCESS OF CONTINUOUS IMPROVEMENT”.
3.2 Our Vision
To become the Bank of first choice in our areas by building beneficial and lasting
relationship with customers through the process of Continuous improvement.
3.3 Mission
Our corporate mission to gain market recognition in chosen areas by building
effective strategies .A logical extension of the Vision Statement is the Mission of the
Bank, which is to gain market recognition in the chosen areas .To build a sizeable
market share in each of the chosen areas of business through effective strategies in
terms of pricing, product packaging and promoting the product in the market .To
facilitate a process of restructuring of branches to support a greater efficiency in the
retail banking field .To sustain the mission objective through harnessing technology
driven banking and delivery channels .To promote confidence and commitment

10
among the staff members, to address the expectations of the customers efficiently
and handle technology banking with ease.
3.4 History
Union Bank of India was inaugurated by the Father of the Nation, Mahatma Gandhi,
on November 11, 1919. Started as a limited company in Mumbai, it was one of the
few Financial Commercial banks in India. Until 1947, UBI had only 4 branches - 3 in
Mumbai and 1 in Saurashtra, all concentrated in key trade centers. Catering to all the
sectors of the society, be it agriculture, industry, trade and commerce, services or
infrastructure, the bank has also played a major role in rendering services to the
financial needs of every section. Apart from this, the bank also extended financial
support to educational, housing and trade sector.
Union Bank of India undertook the task of establishment of village knowledge
centers and self-employment training centers. It was in 1975, that the Union Bank of
India was nationalized. It was, then, that it merged with the Belgaum Bank, a private
sector bank. Another merger was on cards in 1985, this time with the Miraj State
Bank. Union Bank is a Public Sector Unit with 55.43% Share Capital held by the
Government of India. The Bank came out with its Initial Public Offer (IPO) in August
20, 2002 and Follow on Public Offer in February 2006. Presently 44.57 % of Share
Capital is presently held by institutions, individuals and others.
3.5 Products & Services
Deposits
Accounts
Loans
Cards
Insurance
Cash Management Service
Mutual Funds
Demat
ATMs
E Banking Or Online Banking
Remittance Service
Bill Payment Service
Tax Payment Service
Atm Banking
Tele Banking
Online Demat Trading
Cash Management Services(CMS)
Mutual Funds
Railway Tickets Booking
8% Tax Saving Bonds
Public Provident Fund (PPF)
Direct Tax Collection
Central Excise and Service Tax Collection Services
Special Savings Schemes for Senior Citizens

11
4 . About the Branch:- IFB (Industrial Finance Branch)
There are 9 branches of Industrial Finance Branch (IFB) in Union Bank of India, out
of which two branches are located in Mumbai, one at the head office at Nariman
Point and the other at M. S. Marg (MSM). IFB (MSM) was started in September,
2009. It is a wholesale business unit which deals with only corporate clients.
The branch is headed by the Deputy General Manager (DGM) Mr. P. M. Patel. IFB
MSM deals with corporate having loan requirement of Rs. 35 crores and above.
Loans below Rs. 35 crores are provided by the Loans and Advances department.
IFB MSM provides all types of Credit facilities like Fund-Based Credit and Non-Fund
Based Credit. Fund-based credit includes Cash Credit, Term Loan and Working
Capital Loan. Non-fund-based credit includes Letter of Credit, Letter of Guarantee
and Buyers Credit. Currently IFB provides Term Loans and Working Capital Loans
for the following projects:

Infrastructure (Roads, Power, Ports, Telecom)

Manufacturing (Steel, Aluminum)
Textiles
Traders (Import-Export)
Cash credit is a short-term cash loan to a company. Term loan is a long-term loan
provided for starting a new project or for the modification, replacement or expansion
of the existing unit. Working Capital Loan is a short-term loan which the company
uses for running the day-to-day operations. Letter of Credit is a letter from a bank
guaranteeing that a buyer's payment to a seller will be received on time and for the
correct amount. In the event that the buyer is unable to make payment on the
purchase, the bank will be required to cover the full or remaining amount of the
purchase. Letter of Guarantee, like a line of credit, guarantees a sum of money to a
beneficiary. Unlike a line of credit, the sum is only paid if the opposing party does not
fulfil the stipulated obligations under the contract. This can be used to essentially
insure a buyer or seller from loss or damage due to non-performance by the other
party in a contract. Buyer's credit is the credit availed by an Importer (Buyer) from
overseas Lenders i.e. Banks and Financial Institutions for payment of his Imports on
due date.
The branch also has an independent Foreign Exchange branch which manages the
non-fund based facilities. The branch deals in acquiring the customers, getting limit
sanctioned, documentation and monitoring process.

Head Office
Union Bank Bhavan,
239, Vidhan Bhavan Marg,
Nariman Point,
Mumbai - 400 021.

Central Office
Union Bank Bhavan,
239, Vidhan Bhavan Marg,
Nariman Point,
Mumbai - 400 021.

12
Investor Services Division
Union Bank Bhavan,
239, Vidhan Bhavan Marg,
Nariman Point,
Mumbai - 400 021.

Registrar & Share Transfer Agent

Datamatics Financial Services Ltd.
Plot No.B-5, Part B, MIDC,
Crosslane, Marol, Andheri (East),
Mumbai - 400 093.

4.1 Form of Management

Board of Directors

SHRI M. V. NAIR SHRI S. C.KALIA

Chairman & Executive Director
Managing Director
SHRI S. S. MUNDRA SHRI K.V. EAPEN
Executive Director Government of
India Nominee
SMT. MEENA HEMCHANDRA Shri B.M.SHARMA
Government of Board of the Bank
India Nominee
SHRI N. SHANKAR DR. GULFAM MUJIBI
Government nominated Director Nominated by Government of India as a part-time
non-official Director
PROF. M.S. SRIRAM SHRI ARUN NANDA
BOD BOD
SHRI S. RAVI SHRI BAIDYA NATH
BOD BHATTACHARJEE
BOD

13
5. Union bank of India CSR activities

5.1 Karmayog 2008 CSR Rating: 3/5

Rural Development and Self Employment Training Institute (RUDSETI)

Established two RUDSETIs in our Lead Districts of Ernakulam and Varanasi and a
Rural Development Foundation at Alibaug, Maharashtra, with the objective of raining
youth in rural and semi-urban areas to take up self-employment ventures, to conduct
various vocational and human resource development training programmes, to
provide consultancy services etc.

Formation of Farmers' Clubs

Encouraging formation of Farmers Clubs in villages catered by our rural branches.

5.2 Introduction of Village Knowledge Centres

For the overall development of agricultural sector, Bank has introduced the
innovative concept of "Village Knowledge Centres" for benefit of the farming
community. These centres act as core centres for rural development activities and
impart knowledge to the farmers about new developments in methods of cultivation/
technologies, proper use of fertilizers, pesticides etc. for better yield and higher
income. Weather report and agro-climatic conditions, latest information on price of
inputs and agriculture produce are also made available to the farmers. At these
centres, farmers, landless labourers and other artisans are encouraged for formation
of Self Help Groups, Farmers clubs etc.

5.3 100% Banking Habit Villages

Initiated the exercise of bringing maximum villages in each Region as 100% Banking
Habit Villages" to provide banking services to each and every household.

5.4 Bhumiheen Green Card

Introduced the scheme of "Bhumiheen Green Card" to provide easy credit facilities to
tenant farmers, oral lessees, sharecroppers, landless labourers and their Joint
Liability Groups/SHGs etc. This scheme will benefit those farmers who are unable to
give any tangible security.

5.5 Joint Liability Groups

To inculcate the habit of group based financing, to tenant farmers, share croppers,
oral lessees, farmers with small land holding without proper title of Agriculture land,
our Bank has introduced the mechanism of Joint Liability Groups (JLGs).

5.6 "No Frills" Account

14
"No Frills" Account scheme has been introduced to bring the down trodden and
poverty ridden masses which have been socially and financially excluded so far from
the main stream.

5.7 "Union Mitr"

As part of our initiatives and corporate social responsibility to create financial

awareness we have launched "Union Mitr" to provide financial education services
and debt counselling to all strata of the society especially the rural population, free of
cost. Initially "Union Mitr" has been established at 51 Village Knowledge Centres in
rural areas and will subsequently be rolled over to other areas of the country.

5.8 Current year Corporate Social Responsibility

Union Bank of India is actively engaged in community and social development and
pursues this goal under the aegis of specially set up ‗Union Bank Social Foundation’.
Various activities are carried out by this Foundation through a widespread presence
of 202 Village knowledge Centres (VKCs), 103 Union Adarsh Gram, 8 Financial
Literacy and Credit Counselling Centres (FLCC), 13 R-SETIs (Rural Self-
employment and Training Institutes) across the country. This includes 1 VKC and 7
FLCC enduring the year.

Each VKC assists in overall development of the village by coordinating with various
developmental agencies/Government departments and is semi ate nowledge to
farmers about latest developments in methods of cultivation, technologies, proper
use of fertilizers, pesticides etc.

Under Union Adarsh GramYojana, Bank undertakes a holistic development of the

village by converting it into a model village. Similarly, R-SETI and FLCC extend
financial literacy, counseling and training to the needy people so that they become
part of the mainstreams. During the year 2010-11, Union Bank of India extended a
donation of ` 175.65 lakh to various entities for the purpose of education, health and
medical emergency, relief, basic amenities etc. Union Bank of India is examining.

The possibility of providing the solar-powered lanterns to the households in the103

Union Adarsh Gram. The objective is to provide illumination to the electricity eprived
villages that will facilitate livelihood by increasing the productive hours for rural
entrepreneurs, help spread education, improve health, bio-conservation and
moreover, a ray of hope for everyone.

Union Bank of India is committed to its role as a responsible corporate citizen by

adopting ethical business practices and contributes to economic development
beyond its statutory obligation. The Bank fully realizes its social responsibility to
improve the quality of life of the local community and society at large. The Bank has
now moved a step ahead in this direction. In order to pay a focused attention, the
Board of the Bank has decided to set apart 1% of its annual public profits to
undertake Corporate Social Responsibility Activities through its trust named ―Union
Bank Social Foundation‖.

15
The trust would provide for infrastructure facilities in rural areas and committed to
undertaking one major project in each of the 13 lead districts across the country,
namely, Ernakulam and Idukki in Kerala, Varanasi, Ghazipur, Jaunpur,
Azamgarh,Chandauli, Bhadohi and Mau in U.P., Rewa and Sidhi in M.P. and
Samasthipur and Khagaria in Bihar.

The Bank has established Village Knowledge Centres (VKCs) in nearly 200 villages
across the country, which provides knowledge dissemination and extension services
to the rural community helping them in improving their productivity. These VKCs are
non-profit entities, fully funded by the bank.

The Bank has also established two Rural Development and Self-employment
activities in Perambavur (Kerala) and Varanasi (U.P) funded jointly by the Bank,
NABARD and respective State Governments.

6. Financial Position of union bank of India

As per annual report of 2009, 2010 & 2011

(In Thousands)

2009 2010 2011

Net profit 1,72,72,023 2,07,57,527 2,08,35,729
Income 13,37,19,301 15,27,74,192 18,49,13,987

6.1 Key performance indicators

FY2010 FY2011 Annual

Change
Total Business 291289 355483 22.04%
Net Interest Income 4192 6216 48.28%
Operating Profit 3659 4305 17.66%
Provisions 1584 2223 40.34%
Net Profit 2075 2082 0.34%
Net Interest Margin 2.71% 3.33% 62 bps
Capital Adequacy Ratio 12.51% 12.95% 44 bps
Gross Profit per employee (lakh) 13.18 15.52 17.75%
Dividend (` per share) 5.5 8.0 45.45%
Book Value per Share 173.38 213.17 22.95%

6.2 Business Performance

a. Total Business of Union Bank of India increased by 22.04% from ` 2,91,289 crore
as on March 31, 2010 to 3,55,483 crore as on March 31, 2011.

b. This comprised Deposit growth of 19.07% from 1,70,040 crore to ` 2,02,461 crore
and Advances growth of 26.20% from ` 1,21,249 crore to 1,53,022 crore.

16
c. Bank has one branch outside India at Hong Kong. The business of Hong Kong
branch increased by 94.53%, though on a lower base. Deposits increased from ` 370
crore to ` 570 crore and advances increased from ` 2,977 crore to ` 5,941crore.

6.3 Financial Performance

a. Net Interest Income recorded a growth rate of 48.28% from ` 4,192 crore for the
year 2009-10 to ` 6,216 crore for the year 2010-11.

b. Total Income of the Bank increased by 21.04% from` 15,277 crore to ` 18,491
crore. Interest income was the major contributor, within which interest on advances
recorded a growth of 24.08% from ` 9,696 crore to ` 12,031 crore. Interest income on
investments increased by 14.93% from ` 3,482 crore to ` 4,002 crore. Yield on
advances stood at 9.86%for the year 2010-11 from 9.94% in the previous year. Yield
on investments, however, increased to 6.55%for the year 2010-11 from 6.32% in the
previous year, reflecting higher coupon on government securities. Total yield on
funds also recorded an improvement of 29 basis points (bps) from 8.04% to 8.33%.

c. Non-interest income increased by 3.24% from` 1,975 crore to ` 2,039 crore. The
major drag was 19.02% fall in income from profit on sale of investments due to
volatile and uncertain market conditions prevailing during the year. Excluding this
item, non-interest income growth would be 12.34%.

7. Current Strategies of Company

A logical extension of the Vision Statement is the Mission of the Bank, which
is to gain market recognition in the chosen areas.

To build a sizeable market shares in each of the chosen areas of business

through effective strategies in terms of pricing, product packaging and
promoting the product in the market.

To facilitate a process of restructuring of branches to support a greater

efficiency in the retail banking field.

To sustain the mission objective through harnessing technology driven

banking and delivery channels.

To promote confidence and commitment among the staff members, to

address the expectations of the customers efficiently and handle technology
banking with ease.

Union Bank OF India continued with the healthy performance track record during the
year 010-11 while pursuing its broad Vision & Mission objective of becoming the
Bank of first choice in chosen areas. These objectives have short-term as well as
long-term goalposts. In the short-run, customer acquisition, business expansion and
a profitable growth are the key outcomes while in the long-run Bank pursues a
sustainable improvement in the process efficiency, product enrichment and people
productivity. Our journey towards accomplishing the Vision involves creating values
for our customers, our employees and you, our shareholders.

17
During the fiscal year 2010-11, the business environment was not so benign;
however, Union Bank of India reported healthy results. Bank also launched two
initiatives during the year, for achieving customer service excellence and building a
strong human capital chain in the organization. These two initiatives, along with a
number of enablers created in the recent years would help Union Bank of India
become one of the most preferred banks amongst the existing customer pool and
the two emerging customer classes, namely the Next Generation customers and
new Bankable class. Union Bank OF India is laying a strong foundation for a
sustainable growth in the future that would enhance the market share and
shareholders‘ value.

8. External Environment of the Company:

8.1 Swat analysis of union bank of India

Strengths
• Has been able to maintain healthy asset quality. In Q1 FY09, Gross NPAs were
2.08% and Net NPAs were 0.15% with healthy coverage ratio of 93.05%. UBI will
continue to operate with Gross NPAs of 2.00% with delinquency ratio below 1.00%.

• Very good cost to income ratio of 38% in FY08 as the bank has managed to bring
down and contain its costs significantly. Has one of the best operating efficiencies in
the banking sector space.

• Superior ROE (24.67% inFY08) and excellent ROAA (1.22%) reflect high
profitability of the bank.

• UBI has an excellent technological platform with 100% core banking solution rollout
and increased use of electronic mode in transactions (12% of the total transactions).
This helps the bank reduce risk, improve efficiency and reduce costs significantly.

Weaknesses
• Higher interest rates are putting pressure on NIM, as the bank is facing difficulty in
passing on increasing cost of funds to its customers.

• The bank has large exposure in AFS category in its investment portfolio. In Q1,
FY09, AFS consisted of 32.59% of the total investment portfolio. Out of this, 55%
(Rs.63 bn) is in bond portfolio. Hardening of yields will require the bank to make
provisions for mark-to market (MTM) losses on its bond portfolio.

• CD ratio has reached 73.1% in FY08. It means the bank has to rely on bulk
deposits to finance advances growth.

18
Opportunities
• UBI still has a scope for improving its CASA, which is currently at 34.76%. The
bank has planned to achieve a CASA target of 40% by 2012.

• Increasing share of fee-based income in operating income represents very good

opportunity for the bank. The bank is expecting its fee-based income to grow in
excess of a CAGR of 30%.

• Opening of 400 new branches and expansion in the international market by

increasing its presence in 10 countries with stress on Australia, Canada, Abu Dhabi
and United Kingdom

Threats
• Rising interest rates coupled with slowdown in the economy could result in higher
Delinquencies.

• Increasing money supply and inflationary pressures may prompt RBI to continue
monetary tightening at least in the short-term.

8.2 Internal Environment of the Company:

Culture, Trade Union Issues not provided by company

8.3 Number of Departments: In Industrial finance branch

 Loan disbursement department

 Credit rating department

 Analysis group

19
9. Marketing

 BCG Matrix on industrial finance branch

Business growth rate

Stars Question mark

SBI Bank of Maharashtra

ICICI Bank of baroda

HDFC

Cash cows Dogs

Union Bank of India Dena Bank

Bank of India Indian Bank

Relative position (Market share)

 Advertising
TV commercial ads
Recruitments ads etc.
 Branding
Change is truly the only constant. Banks, in particular, have been following
that rule in recent times. Bank of Baroda got itself a new logo and brand
ambassador a few years ago. In recent times, UTI Bank was renamed Axis
Bank. Canara Bank, too, has revamped itself. Adding to the ever increasing
list is Union Bank of India. The bank, which was founded in 1919 and
inaugurated by the father of the nation, MK Gandhi, has undergone a change
twice in nearly 90 years of functioning. This time round, Union Bank of India,
along with its creative agency, Mudra, and Boston Consulting Group, chalked
out an agenda to create this change. Addressing the press in Mumbai, MV
Nair, chairman, Union Bank of India, says, "We learned we needed to change
now because we realised that the entire population is younger."
The other factor that prompted the rebranding exercise was technology, which
is part of life now. Union Bank of India wanted to highlight that it too had the

20
technology to reach out to its consumers. Moreover, a few more foreign banks
will soon be entering India and the bank decided it needed to prepare itself.
As part of the change, Union Bank of India will leverage technology to
centralise various processes and empower its staff in customer relationships.
The bank is also creating business verticals in the banking sector, such as
corporate banking, retail banking, etc., explained TY Prabhu, executive
director, Union Bank of India. Mudra and its new design and strategy cell,
Water, conducted the research study. "Research was conducted in various
markets with the core consumer groups of Union Bank of India," says Ashish
Mishra, chief strategist, Water, speaking to afaqs! The rebranding exercise
also includes a changed logo. This was preceded by a teaser in the form of an
outdoor. The hoarding showed a bird turning a new page to show the new
logo. Though the logo is not completely visible, the previous page shows a
section of the old logo. The logo, which now features two interlocking U‘s in
red and blue, stands for the consumer and the bank. Nair says, "The two U's
stand for union and the integrity, security and strength, which Union Bank of
India stands for." The colour blue represents commitment, while red is
symbolic of the passion that exists at Union Bank of India.Union Bank of India
will continue with its earlier tagline, ‗Good People to Bank With‘. The creative
proposition that the bank will carry forward is, ‗Your Dreams are not Yours
Alone‘. This is in a bid to indicate that the bank is ready to help fulfil
everyone‘s dreams.With the new logo and branding, Union Bank of India
promises to the customer value for money service, a variety of channels
through which the customer can choose to carry out banking activities, a
timeline with all services offered, and absolutely no opaqueness with respect
to the services and products offered. The communication that will follow the
teaser will largely involve print and outdoor and also include a 10 second TV
commercial. The TVC will be aired in about 10 days.The budget allocated for
the branding exercise and advertising is close to Rs 75 crore, as compared to
last year‘s Rs 32 crore.

21
 9.1 Recovery of Credit

CODE FOR COLLECTION OF DUES AND REPOSSESSION OF SECURITY

I. Preamble:
This Code for Collection of Dues And Repossession of Security (CDRS Code), is a non-
statutory code issued on voluntary basis.

II. Applicability:
This code will apply to Union Bank Of India from 19th January 2004.

III. Contents:
• Introduction
• Dues Collection Policy Statement
• Security Repossession Policy Statement
• General Guidelines
• Grievance Redressal

1. Introduction:
Union Bank Of India is committed to:

• Following fair practices especially with regard to collection of dues and repossession of
security

• Fostering customer confidence and long-term relationship.

2. Dues Collection Policy Statement:

• Dignity and Respect to Customers is Union Bank of India's Debt Collection Policy and the
Bank do not follow policies that are unduly coercive in collection of dues.

• Union Bank of India's dues collection policy is built on courtesy, fair treatment and
persuasion.

3. Security Repossession Policy Statement:

• Union Bank of India's Security Repossession Policy aims at recovery of dues in the event
of default and is not aimed at whimsical deprivation of the property.

• The Policy recognizes fairness and transparency in repossession, valuation and

realization of security.

4. Guidelines:
4.1. All the members of the staff or any other person authorised to represent Union Bank
of India in dues collection or/and security repossession would follow the guidelines set out
below:

General:
Before taking action for collection of dues and repossession of security, Bank would give
notice to the Borrower asking him to repay the dues and the Borrower will be generally
given minimum 15 days time to repay dues.

22
Guidelines for Collection of dues:
• Customer would be contacted ordinarily at the place of his choice and in the absence of
any specified place, at the place of his residence in the case of retail customers and in the
place of business or residence as the case may be in the case of other customers.
• Identity and authority to represent would be made known to the customer at the first
instance.
• Customer privacy would be respected.
• Interaction with the customer would be inacceptable business language.
• Customer calling time would be between 0700 and 1900 hours unless the special
circumstances of the borrower's business or occupation demand otherwise.
• Customer requests to avoid call at a particular time or at a particular place would be
honoured as far as possible.
• Time and number of calls and contents of conversion would be documented.
• Customer would be provided with all the information regarding dues at the time of notice
of recall of loan and as and when demanded by the Customer.
• All assistance would be given to resolve disputes or differences in a mutually acceptable
and in an ordinary manner, if any as regards dues.
• During visits to customers' place for dues collection, decency and decorum would be
maintained.
• Inappropriate occasions such as bereavement in the family or such other calamitous
occasions would be avoided for making calls/visits to collect dues.
• Demeanor that would suggest criminal intimidation or threat of violence would be
scrupulously avoided.

Guidelines for Repossession of Securities:

• Due process of Law would be followed for repossession of securities
• Bank would give one week's notice before taking possession of/seizing securities
• In case Bank engages services of a Recovery/Seizure Agent for repossession of
securities then a notice of such appointment will be given to the Borrower.
• Identity of Recovery/Seizure Agent so appointed will be disclosed to you
• Such Recovery/Seizure Agents will have a covenant with the Bank to be bound by this
Code.
• Any violation of Code by Recovery/Agent will be viewed seriously and the Bank will take
prompt action in preventing the violation.
• Bank would an approved valuer value the securities and ascertain fair market value
before resorting to sale.
• Ordinarily Bank would not sell the securities below the fair market value unless the
circumstances warrant. In the event of sale of securities being done at a price below the
fair market value then Borrower would be given one opportunity to arrange for bidders at
or above the fair market value.
• Sale of securities will be conducted only after expiry of 30 days from the date of notice of
sale.
• In case the borrower comes forward and reaches a settlement and repays the dues of
the Bank, then repossessed securities will be returned within 10 days from the date of
satisfaction of dues.

23
9.2 Grievance Redressal:
Internal procedures
a. Staff and the representives engaged for collection of dues and repossession of
securities will give assistance in the case customer/borrower wishes to lodge a complaint.
b. Within two weeks of receiving any complaint, we will send a written acknowledgement.
c. After examining the matter, we will send our final or other response within eight weeks.

9.3 List and profile of Local Competitor for industrial finance branch
Sr. Nationalized Deposits Advances Interest Net NPA as %
No bank Income Net advances
1 Allahabad Bank 84972 58802 7365 0.72
2 Andhra Bank 59390 44139 5375 0.18
3 Bank of Baroda 192397 143986 15092 0.31
4 Bank of India 189708 142909 16437 0.44
5 Bank of 52255 34291 4292 0.79
Maharashtra
6 Canara Bank 186893 138219 17119 1.09
7 Central Bank of 131272 85483 10455 1.24
India
8 Corporation 73984 48512 6067 0.94
Bank
9 Dena Bank 43051 28878 3448 0.24
10 Indian Bank 72582 51465 6830 0.81
11 Indian Overseas 100116 74885 9641 1.33
Bank
12 Oriental Bank of 98369 68500 8856 0.65
Commerce
13 Punjab and Sind 38766 24615 3247 0.32
Bank
14 Punjab National 209760 1541703 19326 0.17
Bank
15 Syndicate Bank 115885 81532 9580 0.77
16 UCO Bank 100222 68805 8121 1.18
17 Union Bank of 138703 96534 11889 0.34
India
19 United Bank of 54536 35394 4312 1.48
India
20 Vijaya Bank 54535 35468 5238 0.83

24
10. Finance
10.1 Financial performance of union bank of India

Net Interest Income recorded a growth rate of 48.28% from ` 4,192 crore for the year
2009-10 to ` 6,216 crore for the year 2010-11.

Total Income of the Bank increased by 21.04% from ` 15,277 crore to ` 18,491 crore.
Interest income was the major contributor, within which interest on advances recorded a
growth of 24.08% from ` 9,696 crore to ` 12,031 crore. Interest income on investments
increased by 14.93% from ` 3,482 crore to ` 4,002 crore. Yield on advances stood at
9.86% for the year 2010-11 from 9.94% in the previous year. Yield on investments,
however, increased to 6.55% for the year 2010-11 from 6.32% in the previous year,
reflecting higher coupon on government securities. Total yield on funds also recorded an
improvement of 29 basis points (bps) from 8.04% to 8.33%.

Non-interest income increased by 3.24% from ` 1,975 crore to ` 2,039 crore. The major
drag was 19.02% fall in income from profit on sale of investments due to volatile and
uncertain market conditions prevailing during the year. Excluding this item, non-interest
income growth would be 12.34%.

FY-10 FY-11 Growth%

Inland Commision 352 365 3.69
Treasury Income 573 464 -19.02
Income from Forex 323 429 32.82
Transaction
Recovery in Written - off Accounts 183 212 15.85
Miscellaneous 544 569 4.60
Total 1975 2039 3.24
(In crore)

10.2 Listing in share market

The Bank is a Scheduled Commercial Bank with its Head Office at Mumbai. The Bank has
its presence in all parts of the country with a network connected in All Branches.

The Bank‘s shares are listed on the Stock Exchange, Mumbai and the National Stock
Exchange and its stock scrip code is as follows:-

The Stock Exchange, Mumbai (BSE) 532477

The National Stock Exchange, (NSE) UNIONBANK-EQ

25
10.3 Table of share price for six months of Union Bank of India

10.4 CRISIL Rating for Union Bank of India

CRISIL ‘AAA’ for UNION BANK OF INDIA’s Rs.5

Billion Upper Tier II Bonds Issue
Rs.5.0 Billion Upper Tier II Bonds Issue AAA/Stable (Assigned)
Tier I Perpetual Bond Issue Aggregating
AAA/Stable (Reaffirmed)
Rs.10.4 Billion
Upper Tier II Bond Issue Aggregating Rs.22.0
AAA/Stable (Reaffirmed)
Billion
Lower Tier II Bond Issue Aggregating Rs.32.7
AAA/Stable (Reaffirmed)
Billion
Rs.150 Billion Certificates of Deposit
P1+ Reaffirmed)
Programme

CRISIL has assigned its ‗AAA/Stable‘ rating to Union Bank of India‘s (Union
Bank‘s) Upper Tier II bonds, and has reaffirmed its outstanding ratings on the
bank‘s other aforementioned debt instruments at‗AAA/Stable/P1+‘. The ratings
continue to reflect the support that Union Bank is expected to continue to receive
from its majority owner, the Government of India (GoI). The ratings also factor in
Union Bank‘s healthy market position, comfortable resource profile, and
adequate earnings profile. These rating strengths are partially offset by the
bank‘s average capitalisation and moderate asset quality.

Union Bank is among India‘s top 10 banks by asset size. As on March 31, 2010,
the bank had deposits and advances of Rs.1700 billion and Rs.1213 billion
respectively. As on March 31, 2010, the share of low-cost current and savings
accounts (CASAs) in the bank‘s deposits was around 32 per cent (30 per cent

26
as on March 31, 2009). The bank‘s borrowing cost improved to 5.5 per cent in
2009-10 (refers to financial year, April 1 to March 31) from 6.4 per cent in 2008-
09, and compares favourably with the industry average. CRISIL believes that
Union Bank will maintain its comfortable resource profile over the medium term
on the back of its adequate deposit mix and wide branch network.

Union Bank‘s core profitability is adequate - net profitability margin (NPM) was
1.34 per cent - in 2009-10 (1.6 per cent in 2008-09). The decline in NPM was
primarily because of the decline in the bank‘s interest spreads, largely driven by
the decrease in its yield on earning assets, more than offsetting the decrease in
its borrowings costs. However, return on assets was stable at 1.25 per for 2009-
10, against 1.27 per cent in the previous year, supported by improvement in fee-
based income and treasury gains. CRISIL believes that Union Bank‘s ability to
increase its core fee income and manage its advances profile, thereby
maintaining a balance between yields and credit quality, will have a key bearing
on the bank‘s earnings.

The quality of Union Bank‘s assets is moderate. As on March 31, 2010, gross
non-performing assets (NPAs) accounted for 2.2 per cent of its total assets, an
increase from 1.96 per cent as on March 31, 2009, driven largely from slippages
to NPAs from restructured standard assets in 2009-10. Also, the bank‘s
capitalisation is average, with a Tier I capital adequacy ratio (CAR) of 7.9 per
cent of risk-weighted assets, and an overall CAR of 12.5 per cent, as on March
31, 2010, as per Basel II norms. While the size of the bank‘s Tier I capital is
healthy, at Rs.97 billion as on March 31, 2010, the bank has limited flexibility to
raise fresh equity capital, given that GoI‘s current shareholding in the bank is
55.4 per cent (regulatory minimum is 51 per cent). Union Bank‘s adequate
profitability, resulting in comfortable cash accruals to net worth ratio, and its
stated posture that it will maintain its overall CAR in excess of 12 per cent,
support the current ratings on the bank‘s Tier I Perpetual and Upper Tier II
bonds.

Outlook:Stable
CRISIL believes that Union Bank will continue to benefit from the support it
receives from GoI. The bank‘s healthy business position and the support it
receives from GoI are expected to significantly reduce the challenges the bank
faces in improving its asset quality. The bank is likely to maintain its CAR at
levels that will support the current rating. The outlook could be revised to
‗Negative‘ in case of a steep deterioration in Union Bank‘s asset quality or
capitalisation; also, deterioration in capitalisation could lead to a downward
revision in the rating outlook or rating on the hybrid instruments.

27
10.5 CHEQUE COLLECTION POLICY

POLICY ON COLLECTION OF CHEQUES/INSTRUMENTS

Arrangements for Collection:

Local Cheques

All cheques and other Negotiable Instruments payable locally would be presented
through the clearing system prevailing at the centre. Cheques deposited at branch
counters and in collection boxes within the branch premises before the specified cut-
off time will be presented for clearing on the same day. Cheques deposited after the
cut-off time and in collection boxes outside the branch premises including off-site
ATMs will be presented in the next clearing cycle. To avoid fraudulent transactions
by intercepting the cheque, customers should ensure that the cheques deposited in
collection boxes are specially crossed to Union Bank of India. Instructions to this
effect are displayed on the Cheque.

In case of cheques deposited in all loans and advances accounts including term loan
value date credit will be given on Day-1 or Day-2 as the case may be (that is the day
on which settlement account of the Bank with RBI/SBI is credited depending on
clearing cycle at the place) for limited purpose of calculation of products for
application of interest in all loan and advances accounts including term loan.

Outstation Cheques

a) Cheques drawn on other banks at outstation centres will normally be collected

through bank‘s branches at those centres. Where the bank does not have a branch
of its own, the instrument would be directly sent for collection to the drawee bank or
collected through a correspondent bank. The bank would also use the National
Clearing services offered by the Reserve Bank of India at centres where such
collection services exist.

b) Speed Clearing

Collection of outstation cheques, till now, required movement of cheques from the
presentation centre (city where the cheque is presented) to Drawee Centre (city
where the cheque is payable) which increases the realization time for cheques.
Speed clearing aims to reduce the time taken for realization of out station cheques.
Outstation cheque collection through collection basis takes around one to two weeks
time depending on the drawee centre. Under Speed Clearing, it would be realized
on T+1 basis viz., within 48 hours.

Speed Clearing refers to collection of outstation cheques through the local clearing.
It facilitates collection of cheques drawn on outstation core banking enabled

28
branches of banks, if they have a net worked branch locally.

Cheques payable in Foreign Countries

The Bank handles the transactions relating to foreign cheques for collection of their
customers. Such cheques may be for personal purposes or trade related purposes.

Foreign cheques will be sent for collection to the respective centers where it is
payable through our correspondent banks for collection. The realization depends
upon the local clearing rules, which vary from country to country and centre to
centre.

Immediate Credit of Local / Outstation Cheques / Instruments:

Branches / extension counters of the bank will provide immediate credit for
outstation cheques / instruments up to the aggregate value of Rs.15,000/- tendered
for collection by individual account holders subject to satisfactory conduct of such
accounts for a period not less than 6 months. In case of prepaid instruments like
DDs, Interest/ Dividend Warrants drawn on our bank/branches and cheques issued
by government undertakings the maximum limit will be Rs.25,000/-.

The facility of immediate credit will be offered on Savings Bank / Current / Cash
Credit Accounts of the customers. For extending this facility there will not be any
separate stipulation of minimum balance in the account.

Higher limits will be given for immediate credit of cheques in the form of bundled
products upto Rs.25,000/- in all satisfactorily operated Multi Gain Savings Accounts
(MGSA) as the customers maintain minimum balance of Rs.25,000/- in these
accounts.

Purchase of local/outstation cheques

Bank may, at its sole discretion, purchase local/outstation cheque tendered for
collection at the specific request of the customer or as per prior arrangement.
Besides satisfactory conduct of account, the standing of the drawer of the cheque
will also be a factor considered while purchasing the cheque and this will be subject
to levy of service charges.

Time Frame for Collection of Local / Outstation Cheques / Instruments:

Collection of Local Cheques/Instruments

For local cheques presented in clearing credit will be afforded as on the date of
settlement of funds in clearing and the account holder will be allowed to withdraw
funds as per return clearing norms in vogue. Cut-off time upto which the cheques
received will be sent for clearing the same day, time when customer‘s account gets
credited and when customer can utilize the funds will be displayed in the branches.
Similarly cut-off time prescribed for each cheque collection box will be indicated on

29
the box. Cut-off time for receipt of cheques for payment to government accounts like
Income Tax etc. will be displayed in the branches transaction government business.

Cheques/instruments sent in Speed Clearing will be realized on “T + 1 day”

basis.

ii) Cheques drawn on foreign countries: Foreign cheques are sent for collection to
the respective centers where they are payable through our correspondent banks for
collection. The realization depends upon the local clearing rules, which vary from
country to country and centre to centre. Normally USD cheques are returned within
15 days of presentation, except those cheques, which are fraudulent. Cheques
which are fraudulent on the face can be returned within one year and other any time.
Bank will, however give proceeds of realization within 20 days in case of USD
cheques drawn in USA, subject to the right to debit in case of fraudulent cheques. All
other foreign currency cheques are paid within two working days from the date of
receipt of statement of Nostro Account showing the credit.

The above time norms are applicable irrespective of whether cheques/instruments

are drawn on the bank‘s own branches or branches of other banks.

Cheques / Instruments lost in transit / in clearing process or at paying bank’s

branch:

In the event a cheque or an instrument accepted for collection is lost in transit or

in the clearing process or at the paying bank‘s branch, the bank shall immediately on
coming to know of the loss, bring the same to the notice of the accountholder so that
the accountholder can inform the drawer to record stop payment and also take care
that cheques, if any, issued by him / her are not dishonoured due to non-credit of the
amount of the lost cheques / instruments. The bank would provide all assistance to
the customer to obtain a duplicate instrument from the drawer of the cheque.

In line with the Bank‘s Compensation Policy the accountholder will be compensated
in respect of instruments lost in transit in the following way:

Expenses incurred for obtaining duplicate instrument will be paid @2% of the
amount of instrument subject to maximum of Rs.500/-
In addition, bank will pay interest on the amount of the cheque for a maximum
period of 30 days at the rate applicable for relevant period of fixed deposit
prevailing at the time of payment of interest to provide for likely further delay
in obtaining duplicate cheque/instrument and collection thereof.

In case of cheque/instrument lost after it is discounted bank would not charge

interest for the period beyond the normal collection period.

30
Charging of interest on cheques returned unpaid where Instant Credit was
given:

If a cheque sent for collection for which immediate credit was provided by the bank
is returned unpaid, the value of the cheque will be immediately debited to the
account. The customer will not be charged any interest from the date immediate
credit was given to the date of return of the instrument unless the bank had
remained out of funds on account of withdrawal of funds. Interest where applicable
would be charged on the notional overdrawn balances in the account had credit not
been given initially.

If the proceeds of the cheque were credited to the Savings Bank Account and were
not withdrawn, the amount so credited will not qualify for payment of interest when
the cheque is returned unpaid. If proceeds were credited to an overdraft/loan
account, interest shall be recovered at the rate of 2% above the interest rate
applicable to the overdraft/loan from the date of credit to the date of reversal of the
entry if the cheque/ instrument was returned unpaid.

31
10.6 PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31ST
MARCH, 2011
( 000' Omitted )

Year Ended Year Ended Year Ended

31.3.2011 31.3.2010 31.3.2009
I. Income
Interest earned 1,64,52,61,50 1,33,02,67,91 1,18,89,37,87
Other income 20,38,78,37 19,74,74,01 14,82,55,14
Total 1,84,91,39,87 1,52,77,41,92 1,33,71,93,01
II. Expenditure
Interest expended 1,02,36,41,71 91,10,26,74 80,75,81,31
Operating expenses 39,49,99,71 25,07,84,75 22,14,11,46
Provisions and contingencies 22,23,03,73 15,84,38,56 13,55,44,96
Total 1,64,09,45,15 1,32,02,50,05 1,16,45,37,73
III. Net profit for the year 20,81,94,72 20,74,91,87 17,26,55,28
Add : Profit brought forward 1,63,27 83,40 64,95
Total 20,83,57,99 20,75,75,27 17,27,20,23
IV. Appropriations
Transfer to statutory reserve 6,25,00,00 6,25,00,00 5,18,00,00
Transfer to capital reserve 61,20,07 1,00,09,05 2,17,08,28
Transfer to revenue and other 6,22,00,00 5,72,00,00 2,59,00,00
reserves

Proposed dividend 4,19,46,59 2,77,81,49 2,52,55,89

Dividend tax 68,59,50 47,21,46 42,92,24
Transfer to foreign currency 0 0 80,42
translation reserve

Transfer to special reserve 2,82,00,00 4,52,00,00 4,36,00,00

[sec36(i)(viii)]

Provision for int. on PNCPS 5,15,92 0 0

Balance in Profit and Loss 15,91 1,63,27 83,40
Account

Total 20,83,57,99 20,75,75,27 17,27,20,23

Earnings per share (basic and 39.71 41.08 34.18
diluted)

32
10.7 BALANCE SHEET AS ON 31ST MARCH, 2011

(000’ Omitted)

As on As on As on
31.3.2011 31.3.2010 31.3.2009
Capital and Liabilities

Capital 6,35,33,24 5,05,11,79 5,05,11,79

Reserves and Surplus 1,21,29,19,02 99,18,66,29 82,35,23,66

Deposits 20,24,61,28,53 17,00,39,74,14 13,87,02,83,25

Borrowings 1,33,15,96,97 92,15,30,64 87,74,89,53

Other Liabilities and 74,42,66,94 54,83,01,44 47,57,42,92

Provisions
Total 23,59,84,44,70 19,51,61,84,30 16,09,75,51,15

Assets
Cash and Balances with 1,76,10,45,32 1,24,68,24,43 89,92,04,83
Reserve Bank Of India

Balances with Banks and 24,87,99,06 33,08,44,96 69,92,88,12

money at call and short
notice

Investments 5,83,99,13,72 5,44,03,52,71 4,29,96,96,37

Advances 15,09,86,08,32 11,93,15,29,86 9,65,34,23,21

Fixed Assets 22,92,78,42 23,05,43,82 23,35,15,97

Other Assets 42,07,99,86 33,60,88,52 31,24,22,65

Total 23,59,84,44,70 19,51,61,84,30 16,09,75,51,15

Contingent Liabilities 15,94,27,81,97 7,23,38,05,14 8,11,47,09,92

Bills for Collection 52,58,37,22 45,65,80,31 32,31,72,07

33
 10.8 Tax provision and other provision

(Break up of ‗Provision & Contingencies‘ shown under the head in Profit & Loss)

(in crore)

2010-11 2009-10
Provision made towards Income Tax 873.45 758.00
(IT)/Deferred tax liability (DTL)

Provision / (Reversal) for Depreciation on 26.65 (117.34)

Investment
Provision towards NPA 1187.69 698.92
Provision towards Standard Assets 148.54 20.95
Other Provision and Contingencies:
- Shifting Loss
- Restructured Advances 82.94 46.76
1.63 95.21
- Others
-95.86 81.89
TOTAL 2223.04 1584.39

10.9 Key ratio of Union Bank of India

31.03.2009 31.03.2010 31.03.2011

Gross (Operating) 2.28 2.21 2.18
Profit
Net Profit 1.27 1.25 1.05
Return on Net 24.79 23.69 18.63
Worth
Return on Average 1.27 1.25 1.05
Assets
Dividend payout 17.11 15.66 23.44
Ratio
to Net Profit
(including
Corporate Dividend
Tax)
Credit - Deposit 73.22 73.71 78.11
Ratio
Capital Adequacy 8.18 7.91 8.69
Ratio

34
11. Operation and Production

Loan disbursement and work flow chart of industrial finance branch of Union Bank of India

Carrying out due diligence

Preparing credit
report

Determining Interest
rate

Preparation of Proposals

If approved If not approved

Submission of Proposals to designated authority

Project Rejected

Communication of sanction terms and condition

If no queries raised If queries raised

Sanction of proposals on various Solve the queries

terms & condition

Acknowledgement of sanction terms and condition

Application to comply with sanction terms &

condition & execution of loan documents

Disbursement

35
11.1 Steps in term loan assessment

Term Sheet
Conducting feasibility study
Credit report & Credit Rating
Determination of Interest rate
Proposal
Compliance of sanction terms
Disbursement
Follow ups/ monitoring of the account
Term Sheet
Following a favourable feasibility check, credit rating the next step is preparing term
sheet. A Term Sheet is brief document that provides details on aspects like:

Account Details
Financial highlights for immediate previous two audited years and projection
for proceeding year
Nature of Project
Cost of Project
Means of finance
1. Nature of Facility
2. Purpose
3. Tenure of Term Loan
4. Interest rate Reset
5. Margin
6. Interest Rate, Commission
Door to Door Tenor i.e. the period within which the entire amount is to be disbursed.
a)Repayment Terms
b) Prime Security
c) Collateral Security
d) Upfront fees i.e. the charges levied by the bank for processing the documents.
Conducting feasibility study
The success of a feasibility study is based on the careful identification and
assessment of all of the important issues for business success. A detailed Project
Report is submitted by an entrepreneur, prepared by a approved agency or a
consultancy organization. Such report provides in-depth details of the project
requesting finance. It includes the technical aspects, Managerial Aspect, the Market
Condition and Projected performance of the company. It is necessary for the

36
appraising officer to cross check the information provided in the report for
determining the worthiness of the project.
Project Details:

Definition of the project and alternative scenarios and models.

List the type and quality of product(s) or service(s) to be marketed.
Outline the general business model (ie. how the business will make money).
Include the technical processes, size, location, kind of inputs
Specify the time horizon from the time the project is initiated until it is up and
running at capacity.
Relationship to the surrounding geographical area.
Identifies economic and social impact on local communities.
Identifies environmental impact on the surrounding area.
11.2 MARKET FEASIBILITY

Industry description.
Describes the size and scope of the industry, market and/or market
segment(s).
Estimates the future direction of the industry, market and/or market
segment(s).
Describes the nature of the industry, market and/or market segment(s) (stable
or going through rapid change and restructuring).
Identifies the life-cycle of the industry, market and/or market segment(s)
(emerging, mature)
Industry Competitiveness.
Investigates industry concentration (few large producers or many small
Producers)
Analyzes major competitors.
Explores barriers/ease of entry of competitors into the market or industry.
Determines concentration and competitiveness of input suppliers and
product/service buyers.
Identifies price competitiveness of product/service.
Market Potential.
Identifies the demand and usage trends of the market or market segment in
which the proposed product or service will participate.
Examines the potential for emerging, niche or segmented market
opportunities.
Explores the opportunity and potential for a "branded product".
Assesses estimated market usage and potential share of the market or
market segment.
Sales Projection.
Estimates sales or usage.
Identifies and assess the accuracy of the underlying assumptions in the sales
projection.
Projects sales under various assumptions (i.e. selling prices, services
provided).
Access to Market Outlets.

37
 Identifies the potential buyers of the product/service and the associated
marketing costs.
Investigates the product/service distribution system and the costs involved.
11.3 ORGANIZATIONAL/MANAGERIAL FEASIBILITY

Business structure.
Outline alternative business model(s) (how the business will make money).
Identify the proposed legal structure of the business.
Identify any potential joint venture partners, alliances or other important
stakeholders.
Identify availability of skilled and experienced business managers.
Identify availability of consultants and service providers with the skills needed
to realize the project, including legal, accounting, industry experts, etc.
Outline the governance, lines of authority and decision making structure.
Managerial Personnel
Managerial Personnel play a key role in directing the working of the company.
It is
Important for an organization to have a pool of efficient personnel who bear
the capacity to bail the company out from crisis situation and work towards
optimum utilization of organizational resources. Such capacity of the
personnel can be determined by having complete details on following key
aspects:
Market reputation on the promoter / management of the company
Hands on experience of the management personnel in the industry / Business
Managed by qualified personnel.
Ability of the promoters / management to bail out the company in case of
crisis (for example, this could be derived from a strong group company)
Decision making – Is it concentrated?
Organization structure / Succession planning / Labor relations
Is any group company in default / Any Directors on RBI‘s negative list /
Borrower‘s track-record in honoring financial commitment
Length of relationship with the bank
11.4 TECHNICAL FEASIBILITY
Technology plays an important role in maintaining a competitive position in
this highly competitive market conditions. Investing in the proper technology is
the key to success it irrespective of size of business thus for achieving its
projected performance, it is important for it to have sound technological
background. Such technical competence of the project can be determined by
having detailed study done on following key aspects:
Determining Facility Needs.
Estimates the size and type of production facilities.
Investigates the need for related buildings, equipment, rolling-stock
Suitability of Production Technology.
Investigates and compare technology providers.

38
 Determines reliability and competitiveness of technology (proven or unproven,
state-of-the-art).
Identifies limitations or constraints of technology.
Availability and Suitability of Location.
Access to markets.
Access to raw materials.
Access to transportation.
Access to a qualified labor pool.
Access to production inputs (electricity, natural gas, water, etc.).
Investigate emissions potential.
Analyze environmental impact.
Identifies regulatory requirements.
Explores economic development incentives.
Explores community receptiveness to having the business located there.
Raw materials.
Estimates the amount of raw materials needed.
Investigates the current and future availability and access to raw materials.
Assesses the quality and cost of raw materials and markets of easily
substituted
inputs.
Other inputs.
Investigates the availability of labor including wage rates, skill level, etc.
Assesses the potential to access and attract qualified management personnel.
11.5 FINANCIAL FEASIBILITY

Estimate the total capital requirements.

Assesses the capital needs of the business project and how these needs will
be met.
Estimates capital requirements for facilities, equipment and inventories.
Determines replacement capital requirements and timing for facilities and
equipment.
Estimates working capital needs.
Estimates start-up capital needs until revenues are realized at full capacity.
Estimates contingency capital needs (construction delays, technology
malfunction, market access delays, etc.
Estimates other capital needs.
Estimated equity and credit needs.
Identifies alternative equity sources and capital availability -- producers, local
investors, angel investors, venture capitalists, etc.
Identifies and assess alternative credit sources -- banks, government (ie.
direct loans or loan guarantees), grants, local and state economic
development incentives.
Assesses expected financing needs and alternative sources -- interest rates,
terms, conditions, covenants, liens, etc.
Establishes debt-to-equity levels.
Budgets expected costs and returns of various alternatives.
Estimates expected costs and revenue.

39
 Estimates the profit margin and expected net profit.
Estimates the sales or usage needed to break-even.
Estimates the returns under various production, price and sales levels. This
may involve identifying "best case", "typical", and "worst case" scenarios or
more sophisticated analysis like a Monte Carlo simulation.
Assesses the reliability of the underlying assumptions of the financial analysis
(prices, production, efficiencies, market access, market penetration, etc.)
Creates a benchmark against industry averages and/or competitors (cost,
margin, profits, ROI, etc.).
Identifies limitations or constraints of the economic analysis.
Determines project expected cash flow during the start-up period.
Identifies project an expected income statement, balance sheet, etc. when
reaching full operation.
After the feasibility study has been completed and presented, a carefully study
and analysis the conclusions and underlying assumptions. And deciding
which course of action to pursue:-
Potential courses of action include:
Choosing the most viable business model, for investment
Identifying additional scenarios for further study.
Deciding that a viable business opportunity is not available and moving to end
the business assessment process.

11.6 Credit report & Credit Rating

The credit report is an important determinant of an individual's financial credibility.
They are used by lenders to judge a person's creditworthiness. They also help the
person concerned to narrow down on the financial problem areas. Credit report is a
document, which comprises detailed information about the credit payment history of
an applicant. It is mostly used by the lenders to determine the credit worthiness of an
applicant. The business credit reports provide information on the background of a
company. This assists one to take crucial business related decisions.
People can also assess the amount of business risk associated with a company and
then decide whether they would be comfortable in providing them with credit
facilities. The degree of interest that would be shown by investors in their company
can also be gauged from the business credit reports as they can get an idea of the
conception of their customers regarding themselves. Since these records are
updated at regular intervals of time they enable people to identify the risk levels
associated with a business as well as its future. These reports also allow businesses
to get detailed information about the financial status of business partners and
suppliers.
What Is A Corporate Credit Rating?
Ratings can be assigned to short-term and long-term debt obligations as well as
securities, loans, preferred stock and insurance companies. Long-term credit ratings
tend to be more indicative of a country's investment surroundings and/or a
company's ability to honor its debt responsibilities. . The ratings therefore assess an

40
entity's ability to pay debts. There are various organization who perform credit rating
for various business organization.
Union Bank of India follows a finely defined Credit Rating Model for assessing the
creditworthiness of the applicant. The credit rating model asses various aspects of
the projects and assigns scores against them thereby determining the risk level
involved with the project.
It is divided in Five Sections:
1. Rating of the Borrower
Financial Risk
Management Risk
2. Market Condition/ Demand Situation
3. Rating of the Facility
4. Business Consideration
5. Cash Flow related parameters

41
12. Personal and HR department

12.1 Recruitment

Written examination

Personal interview

12.2 Training and development

Union bank has one of the best training systems in India. The training experience
here goes back to over four decades. Presently the training structure consists of the
Staff College at Bangalore, and seven centers in various parts of the country. The
training is designed, delivered and assessed, based on systems suggested and put
in place by our overseas consultants M/s. Vinstar Limited (AGL Group) of New
Zealand. These systems have been tested and refined by practical application.

The training system of Union Bank has been awarded the prestigious Golden
Peacock National Training Award instituted by the Institute of Directors, New Delhi
for the best training system in the Country.

In our pursuit of achieving higher standards we have further upgraded our systems
and sized up to 'international norms'. After a rigorous audit, in February 2001, the
College is awarded ISO 9001 certification (for Design and Development of
Customised Training Programs) by Det Norske Veritas, of the Netherlands. We are
the only Bank to obtain ISO certification for the training system.

FROM PHILOSOPHY TO REALITY

We have devised an outcome-oriented training process. Each and every module is

designed so that learning takes place through interaction. It is also ensured that this
learning is translated into action at the work place. Our training programs actually
deliver value to the Organization. Post course surveys conducted by us have
confirmed this Yes, we have translated yet another cliché into reality. We invite
Organizations to give the enriching experience to the employees, to create learning
and growing organizations.

THE COLLEGE - AMBIENCE FOR LEARNING

Union Bank Staff College stretching over 36 acres of sylvan setting, on the out skirts
of Bangalore city, has been the cynosure of appreciation as an apt option, for the
best ambience for learning. Here physical, mental, spiritual and social upgradation of
self for an individual and building of teams of performers of outstanding
Organizations take place in the most natural way. We have got excellent, air-
conditioned learning centers [we call them "channels" of learning], computer-backed
presentation packages, interactive learning processes, salubrious living conditions in
hostel rooms with provisions for intellectual and physical games, group exercises
and teambuilding fun in verdurous mango-groves, where mimicking monkeys and
shy sheep are, perhaps, the only onlookers! Yoga, somnolent reverie after a relaxed
splash in the swimming pool, or a stroll down the jogging tracks and exercise
stations or a stretch of paddling or rowing on the boat around the natural pond are

42
true tonics for invigoration. If the weather does not encourage outdoor relaxation
(unusual in the 'Garden City' of Bangalore!) a workout in the luxury of the
Gymnasium, a game of snooker, a solitary tryst with computer games or online
learning facilities - are other options.

THE 'FACILITATORS'

Our 'facilitators' to learning - "Faculty" or "Trainers" in the common parlance- are

experienced bank officers with many years of exposure in the entire gamut of
banking. All the facilitators have been through an intensive orientation program on
adult learning processes drawn up by Vinstar of New Zealand. They are also
exposed periodically to updating of skills and awareness in leading institutions in the
country. Some have also been nurtured with professional training abroad at
premiere institutions like Columbia Business School, New York and the Manchester
Business School, England.

THE PROGRAMS

Currently the College is running training programs in the following disciplines:

1.International Banking

2.Credit

3.Information

Technology

4.General Banking

5.Marketing and

6. Management and human resource development.

Union Bank is also organizing executive education programs in association with

Icfian Business School - an arm of the Institute of Chartered Financial Analysts of
India, Hyderabad. In this stream following programs are offered:

1.Finance for Non-Finance executives

2.Treasury and forex management

3.Software- project management

4.The Service edge - improving service quality

43
12.3 Performance appraisal forms of Union Bank of India (IFB)

44
13. MIS or IT Department

13.1 Workflow for Information system in Union Bank of India (IFB)

45
13.2 Application of Software & Hardware

46
14. Other Aspects of Bank

14.1 Awards/ certifications received by the Bank

Year Award and Recognition

National Award for the second best performance in financing small scale
2006 units by Ministry

of Small Scale Industries, Government of India

Golden Jubilee Award for the best bank in north east zone for excellence
in the field of
2007
khadi and village industries from the Ministry of MSME, Government of
India

2007-
Best Bancassurance partner byTata AIG
2008

National Award for the best bank for excellence in field of Khadi and
village industries for
2008
east and north east zones from the Ministry of MSME, Government of
India

2008-
Pinnacle Partner of the year by Tata AIG
2009

2008-
Highest contributor to lives insured by Tata AIG
2009

47
 National Award under Prime Minister Employment Guarantee Programme
in north east
2009
zone from the Ministry of MSME, Government of India

14.2 Legal Compliances of Company

CODE OF BANK’S COMMITMENT TO CUSTOMERS

a. Providing minimum banking facilities of receipt and payment of cash/ cheques at

the bank‘s counter

b. Meeting the commitments and standards in this Code, for the products and
services we offer, and in the procedures and practices we follow

c. Making sure our products and services meet relevant laws and regulations in letter
and spirit

d. Ensuring that our dealings with you rest on ethical principles of integrity and
transparency

e. Operating secure and reliable banking and payment systems.

To Help You To Understand How Our Financial Products And Services Work
By:

a. Giving you information about them in any one or more of the following languages
– Hindi, English or the appropriate local language

b. Ensuring that our advertising and promotional literature is clear and not misleading

c. Ensuring that you are given clear information about our products and services, the
terms and conditions and the interest rates/service charges, which apply to them

d. Giving you information on what are the benefits to you, how you can avail of the
benefits, what are their financial implications and whom you can contact for
addressing your queries and how.

To Help You Use Your Account Or Service By:

a. Providing you regular appropriate updates

b. Keeping you informed about changes in the interest rates, charges or terms and
conditions

c. Displaying in our branches, for your information

48
i. Services we provide
ii. Minimum balance requirement for Savings Bank accounts and No Frills accounts
and charges for non-maintenance thereof
iii. Name of the official at the branch whom you may approach if you have a
grievance
iv. Name and address of the Zonal/ Regional Manager whom you can approach if
your grievance is not redressed at the branch
v. Name and contact details of the Banking Ombudsman under whose jurisdiction
the branch falls
vi. Information available in booklet form.

d. Displaying on our website our policies on

i. Cheque collection
ii. Grievance Redressal
iii. Compensation
iv. Collection of Dues and Security Repossession.

To Deal Quickly and Sympathetically With Things That Go

Wrong By:

a. Correcting mistakes promptly and cancelling any bank charges that we apply due
to our mistake

b. Handling your complaints promptly

c. Telling you how to take your complaint forward if you are still not satisfied (see
Para No. 7)

d. Providing suitable alternative avenues to alleviate problems arising out of

technological failures.

To Treat All Your Personal Information As Private And Confidential

We will treat all your personal information as private and confidential
Subject to matters.

To Publicise The Code We Will:

a. Provide you with a copy of the Code, on request, over the counter or by electronic
communication or mail

b. provide you ( new customer) with a copy of the Code when you open your account

c. make available this Code at every branch and on our website

d. ensure that our staff are trained to provide relevant information about the Code
and to put the Code into practice.
To Adopt and Practice A Non - Discrimination Policy
We will not discriminate on the basis of age, race, gender, marital status,
Religion or disability.

49
14.3 GRIEVANCE REDRESSAL POLICY

1. Introduction

Bank has set a vision to emerge as number one Bank in terms of customer
experience. Towards this end, Bank will remain alert and sensitive to customer
complaints and uses it as a tool for removing deficiencies in service at all levels. The
policy also takes into account the increasing touch points where standard of
customer service gets impacted significantly. Hence all the delivery channels viz.,
ATMs, Phone Banking, Mobile Banking, Internet Banking will be given due
importance in redressing shortcomings based on customer feedbacks. Likewise,
channels like call center and online complaints will be given added focus both in
receiving as well as redressing customer grievances. The adoption of Banking
Codes and Standards Board of India places greater responsibility on the Bank to
meet higher standard of customer expectation. Bank will use customer education,
customer awareness and transparency as tools for reducing grievances and
enhancing customer satisfaction.

Grievance Redressal Policy will also enable compliance to Government / Reserve

Bank of India guidelines / regulations and adherence to code set by Banking Codes
and Standard Board of India. The provisions of this policy will be maintained in
compliance and fulfilment to these requirements to the grievance Redressal process.

The policy document aims at understanding root cause of complaints, based thereon
review of delivery standards will be carried out. Deterrent and disciplinary measures
will also be effectively enforced. Over all the review mechanism should help in
identifying shortcomings in products / processes and services related issues.

The bank‘s policy on grievance redressal is governed by the following principles:

Customers be treated fairly at all times

Complaints raised by customers are dealt with courtesy and on time
Customers are fully informed of avenues to escalate their
complaints/grievances within the organization and their rights to alternative
remedy, if they are not fully satisfied with the response of the bank to their
complaints.
Bank will treat all complaints efficiently and fairly and will be seen as
opportunities for improvement.
The bank employees must work in good faith keeping in mind Bank‘s policy
and without prejudice to interest of the customer.

In order to make bank‘s redressal mechanism more meaningful and effective, a

structured system is laid down to meet this end. The system ensures that the
redressal sought is handled in just and fair manner and is enabled through a set of
framework of rules and regulations. The policy document will be made available at
all branches. The concerned employees will be educated about the complaint
handling process.

50
The customer complaint arises due to:

The attitudinal aspects in dealing with customers

Inadequacy of the functions / arrangements made available to the customers
or gaps in standards of services expected and actual services rendered.
Non-dispensation of cash at ATMs
Non-functioning / mal-functioning of e-banking product
Non-sanction / delay in sanction of loan / credit facilities
Lack of information and understanding of bank‘s products, services and
service charges

The customer will have the full right to register his complaint if he is not satisfied with
the services provided by the bank. He can give his complaint in writing, orally or over
telephone. The customer can also lodge a complaint through Bank‘s own call centre.
If customer‘s complaint is not resolved within given time or if he is not satisfied with
the solution provided by the bank, he will have the right to approach Banking
Ombudsman or such other grievances redressal forums for redressal of grievances.

2. Internal Machinery to handle Customer complaints/ grievances

Three tier grievance redressal system

The Bank will have public grievances machinery functioning at three levels i.e.
Branch, Regional and Central Office level. All complaints received at every level will
be immediately acknowledged and dealt appropriately.

The bank has also enabled an Online Grievance Redressal Mechanism whereby
grievances can be lodged online and will be attended as per the time schedule with
an inbuilt escalation process by which the complaint get escalated to higher offices
in case of non fulfilment within time. The facility has been provided to customer to
register the complaint online for speedy redressal.

Call Centre is yet another avenue to record complaints and deficiencies in service.
Calls to Call Centre will be processed through a well laid down fulfilment work flow
within a committed time and escalation provision.

Nodal Officer and other designated officials to handle complaints

and Grievances

Bank will appoint a Nodal Officer in the rank of General Manager who will be
responsible for implementation of customer service and complaint handling for the
entire bank. At field level Regional Heads will be designated to handle
complaints/grievances in respect of branches falling under their control.

Nodal Officer shall

Ensure adherence to the laid down Grievances Redressal Policy and

process, monitoring its implementation and initiating corrective action
wherever needed so as to improve the quality of customer service on a
continuous basis.

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 Review and set right implementation of all products and processes from the
customer service perspective
Conduct customer service surveys to assess the level of services rendered at
the branch and initiate corrective steps wherever necessary
Decide upon matters requiring immediate action and follow up for timely
redressal of grievances of customers wherever delay is observed and take
steps / action to avoid such delays including action against staff wherever
shortcomings are noticed.
Facilitate customer interface as per laid down procedures and forums.

3. Mandatory display requirements

As per mandatory requirements the Bank will provide;

Complaint / suggestion box at each office of the bank

Complaint Books and Registers to customers to register their complaints
Compliant form along with the name of the nodal officer
Appropriate arrangement for receiving complaints and suggestions.
The name, address and contact number of Nodal Officer(s)
Contact details of Banking Ombudsman of the area
Code of bank‘s commitments to customers/Fair Practice code

4. Resolution of Grievances

Branch Manager will be responsible for the resolution of complaints/ grievances in

respect of customers serviced by the branch. He will be responsible for ensuring
closure of all complaints received at the branches. It will be his foremost duty to see
that the complaint stands resolved completely to the customer‘s satisfaction and if
the customer is not satisfied, then he will be provided with alternate avenues to
escalate the issue. If the Branch Manager feels that it is not possible at his level to
solve the problem he has to refer the case to Regional or Field General Manager‘s
Office or Central Office for guidance and seek intervention. Similarly, if
Regional/Field General Manager‘s Offices find that they are not able to solve the
problem such cases have to be referred to the Nodal Officer at Central Office.

Time frame

Complaints will be seen in the right perspective in ensuring that there is no room for
deficiency in services rendered. Hence complaint received will be analysed from all
possible angles. Specific time schedule will be set up for handling complaints and
disposing them at all levels including branches, Regional and Central Office. Branch
Manager will endeavour with all earnestness to resolve the complaint within
specified time frame laid down in the Banks code for redressal of grievances. If the
complaint is received in writing, bank will send an acknowledgement/ a response
within a week. If the complaint is lodged over phone at Bank‘s Call Centre, a
complaint reference number will be provided to keep the complainant informed of the
progress within a reasonable period of time. After examining the matter, bank will
send to the customer final response or explain why we need more time to respond
within a period of six weeks of receipt of the complaint and will tell the customer how

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to take the complaint further if he/she is still not satisfied.

Branch and Regional Office will send action taken report on complaints received to
the Regional Office and Central Office respectively at the end of every month.

5. Committees on Customer Service in Bank

Customer Service Committee of the Board

The Committee is headed by Chairman and Managing Director and there are 8
members including the CMD. Other than CMD, there are two EDs, one RBI Nominee
Director, one Shareholder director, one Workmen Employee Director and two part
time non-official directors making the strength of the committee eight.
While board is the Competent Authority for formulation of a Comprehensive Deposit
Policy and Loan Policy, recommendations of this sub-committee of the Board will be
taken into account for fine- tuning the policies and processes. This Committee will
review the functioning of Standing Committee on Customer Service including
compliance with the recommendations of the Committee on Procedures and
Performance Audit of Public Services (CPPAPS). The Committee will also suggest
innovative measures of enhancing the quality of customer service and improving the
level of customer satisfaction for all categories of customers at all times.

Standing Committee on Customer Service

The Standing Committee on Customer Service will be chaired by the Managing

Director/ Executive Director of the bank. Besides five senior executives of the bank,
the committee will also have two eminent non-executives drawn from the public as
members. The Committee‘s functions are as under:

The Committee will

Evaluate feedback on quality of customer service received from various

quarters.
Review comments/ feedback on customer service and implementation of
commitments in the Code of Bank‘s Commitments to Customers received
from BCSBI.
Be responsible to ensure timely and effective implementation of all regulatory
instructions regarding customer service. It will also receive necessary
feedback to determine that the action taken by various departments is in tune
with the spirit and intent of such instructions.
Look into the simplification of procedures and practices prevailing in the
Bank, with a view to safeguarding the interests of common persons, be they
current or savings accountholders, depositors or borrowers from any unfair
procedural practices by banks.
Review the systems in place for providing service to the customers in respect
of (i) meeting their demands for fresh/good notes and coins of all
denominations, (ii) exchanging soiled notes, (iii) adjudicating mutilated notes
and (iv) accepting coins and notes either for transactions or in exchange.
Review the regulations and procedures prescribed by Reserve Bank of India
that impinge on customer service of banks and make suitable

53
 recommendations for elimination/rationalization of the same, especially
keeping in view the need to drastically reduce the cost and improve the ease
of conducting transactions both for banks and customers.
Review the practice and procedures prevalent in the Bank and take
necessary corrective action, on an on-going basis.
Study the pending Consumer Forum and Banking Ombudsman cases and
offer their advice/opinion.
Consider unresolved complaints/ grievances referred to it and offer their
advice.
Address complaints related to non-compliance with the Code.
Submit report on its performance to the Customer Service Committee of the
Board at quarterly intervals.

6. Interaction with customers

The bank recognizes that customer‘s expectation/ requirement/ grievances can be

better appreciated through personal interaction with customers by bank‘s staff.
Customer Day will be observed by all our branches on 15th of every month where
customers can lodge their complaints personally and have their redressal on the
spot. Many of the complaints arise on account of lack of awareness among
customers about bank services and such interactions will help the customers
appreciate banking services better.In this area, Bank‘s website and call centre will
play a vital role in creating awareness among customers. Bank‘s website will
contain all the information needed to educate customers on all products and
services offered by the Bank. Bank‘s Call centre will provide all information and
respond quickly to the customers‘ queries and complaints and act as a bridge
between the bank and customers. For the bank, the feedback from customers will be
valuable input for revising its product and services to meet customer requirements.

7. Grievance Redressal Week

A grievance redressal week will be observed at all branches / regional offices on

quarterly basis for speedy redressal of all the pending grievances at branches. The
customers would be invited to Branches / Regional offices and their grievances will
be handled by Branch Managers / Nodal Officers. Branches will immediately take
steps to redress the grievances and an action taken report would be submitted
to their Regional Office. Regional office will consolidate and forward the same to the
Nodal Officer at Central office. The purpose of this process is to enforce Zero
Tolerance standards on complaint resolution.

8. Sensitizing operating staff on handling complaints

Staff will be properly trained for handling customer grievances and redressal
procedures. Compensation Policy to empower field level settlement is part of policy
initiative in grievance redressal. Field Level machinery will be sensitized to accept
deficiencies wherever found and respond by affording compensation in a fair and
quick manner. Attitude and behavioural training will be imparted for front office / line
functional personnel to tactfully handle sensitive and delicate situations during
customer interface.

54
15. Problems or Issues in Union Bank of India IFB

As per the industrial finance branch

low man power

low incentives
lack of promotions
lack of training
limitation on innovative work

The Union Bank of India recruit the MBA professional in every year in their IFB but
the people are normally seen that they live their job after one or two year experience
it will affect the productivity of the IFB work. However the IFB is one of the finest job
providers to the MBAs but the people are take knowledge of the all finance activity
and joined another institution. Because of the low level of salary as compare to
another company like CRISIL etc.

The IFB must provide the proper incentives for their employees for their innovative
work. In the IFB there is lack of promotion for the new employees. Training are
provided by senior most employees but it not sufficient for the new joined employee
it dimities the work of new employee.

The Union Bank of India (IFB) is one of the finest finance providers to the
government project through the private and public partnership. Their work load is
more as compare to other banks. So Union Bank of India must recruit the people in
their crew of employee.

The chain of command is also affecting the decision of the IFB. So the command
system o the company must be change as per the quality of the employee and their
work.

We work in IFB on the POWER PROJECT the aspect of the power project finance
and work done on “OPPORTUNITIES IN POWER SECTOR AND ITS CREDIT
VIABILITY” in this we learn the how the finance institution are provide finance for
this sector. The Union Bank of India is providing the finance in three main sectors
like PORT, POWER, and ROAD projects. The decision on the investment on which
sector the power sector comes last this thinking of invest in power sector is negative.
The company must have changed their policy on this they have to check the growth
of every sector and take investing decision.

55
16. Solutions of problem and issues
The Union Bank of India must have changed their policy of remuneration.

They must have provided the proper incentives to employee as per their
performance appraisal.

Company must provide the task oriented work to their employees and give the
proper opportunity to the work innovative manner and quality work.

They must provide the training for at list 2 months for new employees and
give the real work experience.

Company must develop the recruitment procedure for the new employee‘s
recruitment. Make examination of the finance aspect of the company the
examination question are ask on finance field which are mostly come in the
original work on IFB.

They have to cheek whether the employee are capable for the IFB work he
must have knowledge regarding project finance.

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17. Recommendations
As per the Union Bank of India IFB

OPPORTUNITIES TO BANKS to Invest on POWER SECTOR

The Indian Power Industry is one of the largest and most important industries
in India as it fulfills the energy requirements of various other industries. It is
one of the most critical components of infrastructure that affects economic
growth and the well-being of our nation.
India has the world‘s 5th largest electricity generation capacity and it is the 6th
largest energy consumer accounting for 3.4% of global energy consumption.
Due to the fast-paced growth of the Indian economy, the country‘s energy
demand has grown at an average of 3.6% p.a. over the past 30 years.
As per the latest Report of CEA (Central Electricity Authority) as on 31-03-
2011, the Total Installed Capacity of Power in India is 173626.40 MW. Of this,
more than 75% of the installed capacity is with the public sector (state and
central), the state sector having the largest share of 48%.
The nation‘s power sector which is already struggling with funding shortfalls
will need $400 billion of investment during the 12th plan period (2012-17).
Power generation capacity requires current estimation of Rs. 10.31 trillion of
investment, whereas power ministry estimates a Rs. 4.51 trillion funding
shortfall.
In India, major proportion of power is generated from thermal sources where
the main raw material used is coal. Around 83% of thermal power is
generated using coal as a raw material whereas 16% of thermal power is
generated with the help of Gas and 1% of thermal power is generated with the
help of Oil.
Hydroelectric power or hydroelectricity is electrical power which is generated
through the energy of falling water. India has hydro power generation potential
worth 1,50,000 MW, of which only 25 % has been harnessed till date.
Under the Government‘s ―Power for all by 2012‖ plan, it has targeted per
capita consumption of 1000 kWh by the end of the 11th Five Year Plan (2007-
2012) as compared to levels of 734 kWh in 2008-09. In order to provide per
capita availability of over 1000 kWh of electricity by year 2012, it is estimated
that capacity addition of more than 1,00,000 MW would be required. This
shows that huge capacity additions are required at good efficiency rates,
indicating that the opportunities available in this sector are huge.
A future CARG of 15% is considered based on which loans and advances of
AIFI‘s(All India Financial Institutions) are projected to reach Rs.
19,307,132crore by F.Y.2012.
A modest growth of 15 % in the aggregate deposits would entail additional
funds of Rs.2,995,202 crore till F.Y. 2012.
As far as regulation is concerned, Electricity Act, 2003 is a very important Act
as it allowed private sector participation in the generation of power, thus
creating competition. It also allowed 100% FDI participation in the power
generation, transmission and distribution, thus inducing investments in the
power sector.

57
 The Government of India is planning nine Ultra Mega Power Projects (UMPP)
of 4 GW each with an estimated individual investment of US$ 4 billion (Rs.
192 billion). Four of these projects are expected to be commissioned between
2011 and 2017. The UMPP is an initiative by the government to collaborate
with power generation companies to set up 4,000 MW projects to ease the
country‘s power deficit situation.
Nuclear power projects account for 2.75% of India‘s total installed capacity
which is about 4.77 GW. The Planning Commission‘s expert committee on an
Integrated Energy Policy has suggested in its report that there is a possibility
of reaching a nuclear power capacity of 21-29 GW by 2020 and 48-63 GW by
2030.
The hydro power segment offers investment opportunities as India is
considered to have hydro power generation potential worth 1,50,000 MW; of
which only 25% has been harnessed till date

Power Sector is a highly capital-intensive industry with long gestation periods, before
the commencement of revenue generation. Since most of projects have a long time
frame (4-5 years of construction period and operating period of over 25 years). And
from the above future prospects of power industry shows a heavy investment
requirement and a untapped opportunities to banks and other financial institutes to
invest heavily in power sector.

The Ministry of Power, Government of India has launched an initiative for

development of coal-based Ultra-Mega Power Projects (UMPPs) in India, each with
a capacity of 4,000 MW or above. These projects will be awarded to developers on
the basis of tariff based competitive bidding. To facilitate tie-ups of inputs and
clearances, project-specific shell companies have been set up as wholly owned
subsidiaries of the Power Finance Corporation (PFC) Ltd. These companies will
undertake preliminary studies and obtain necessary clearances including water,
land, fuel, power selling tie-up etc. prior to award of the project to the successful
bidder.
Nine sites have been identified by CEA in nine States for the proposed UMPPs.
These include four pithead sites, one each in Chhattisgarh, Jharkhand, Madhya
Pradesh and Orissa, and five coastal sites, one each in Andhra Pradesh, Gujarat,
Karnataka, Maharashtra and Tamil Nadu. It is proposed to set up pithead projects as
integrated proposals with corresponding captive coal mines. On the request of
Ministry of Power, Ministry of Coal has already allocated captive coal mining block
for Sasan UMPP in Madhya Pradesh and earmarked captive coal mining block for
Orissa UMPP. For the coastal projects, imported coal shall be used. The projects are
to be developed with a view to lower the cost of power to the consumers. These
projects, adopting supercritical technology to reduce emissions, would be
environment-friendly.
A time bound action plan for preparation of project report, tie-up of various inputs /
clearances, appointment of consultants, preparation of RFQ/RFP have been
prepared.Lanco Infrastructure has bagged the Sasan Project at Rs. 1.19 per unit
whereas Tata Power has been awarded the Mundra project at Rs. 2.26 per unit. The
encouraging result achieved in these two cases has shown the way forward for
capacity addition with most competitive tariff.

58
18. Learning
Work on project finance of the bank
How the banks are finance the project of government through the Private and
Public Partnership.
Company analysis through the balance sheet and the brake up of balance
sheet of various power companies like TATA, BHEL, Reliance power.
Company working on the projects how power projects are financed by the
banks with the consortium.
Analysis of various power companies capacity to generate power and their
working (POWER PLANT visit in dahanu Reliance DTPS )
Operation in power companies. Their working conditions and process, a
component requires.
How generate the Thermal Power.
Analysis of power sector in India.
Why bank make investment in power sector
Public Private Partnership
How consortium take place in banks to invest in power projects of India.
Analysis of power purchase agreement.
Credit viability in power sector.
Demand and supply scenario of power sector.
How the loan assess in Union Bank of India.
How the credit rating provided to companies by union bank of India.
Each sectors opportunities like ROAD, POWER, PORT.
MAJOR FINDINGS:
Most of the SEBs though are supported by state government, are running
under loss. This is because of power theft, transmission losses, use of
conventional methods for power generation and transmission and out dated
management policies.
Indian power sector has been witnessing a wide demand – supply gap.
Although electricity generation has increased substantially, it has not been
able to meet the demand.
India is going to build an additional capacity of 1 lakh MW by 2012 including
private sector contribution.
In a bid to bring structural transformations, necessary reform programs
should be carried out in distribution and transmission process.
India possesses a vast opportunity to grow in the field of power generation,
transmission, and distribution. The target of over 150,000 MW of hydel power
germination is yet to be achieved. By the year 2012, India requires an additional
100,000 MW of generation capacity. A huge capital investment is required to meet
this target. This has welcomed numerous power generation, transmission, and
distribution companies across the globe to establish their operations in the country
under the famous PPP (public-private partnership) programmes. The power sector is
still experiencing a large demand-supply gap. This has called for an effective
consideration of some of strategic initiatives. There are strong opportunities in
transmission network ventures - additional 60,000 circuit kilometers of transmission
network is expected by 2012 with a total investment opportunity of about US$ 200
billion.

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19.Bibliography

Annual report of the Union Bank of India 2009, 2010 & 2011
http://en.wikipedia.org/wiki/Banking_in_India
www.moneycontrol.com/.../Union%20Bank%20Company%20Report1.pdf
http://www.unionbankofindia.co.in/au_corporate_mission.aspx
http://spoonfeedin.blogspot.com/2008/09/mktg-union-bank-brand-refresh.html
http://www.unionbankofindia.co.in/shareholdinginformation1.aspx
http://www.crisil.com/Ratings/RatingList/RatingDocs/union-
bank_18jun10.htm?cn=UNIBNKI
http://www.unionbankofindia.co.in/au_training_system.aspx
http://www.unionbankofindia.co.in/bcsbi.aspx
http://www.unionbankofindia.co.in/greivance_mach.aspx

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