+
Union Bank of India Sanctions Rs 1 Bn in MSME Loans in Nellore
ECONOMY & POLICY

Union Bank of India Sanctions Rs 1 Bn in MSME Loans in Nellore

Union Bank of India (UBI) sanctioned loans worth nearly Rs 1 billion to Micro, Small, and Medium Enterprises (MSMEs) in SPSR Nellore district during its Mega MSME Outreach Camp held on Wednesday. The event, organized by UBI’s Nellore regional office at PSR Convention in the city, witnessed participation from over 800 attendees.

As part of the sanctioned amount, approximately Rs 500 million was disbursed through cheques to self-help group (SHG) members. The initiative was supported by key officials, including the Mission for Elimination of Poverty in Municipal Areas (MEPMA) Project Director E Radhamma and District Rural Development Agency (DRDA) Project Director Nagaraja Kumari, who attended as chief guests.

UBI General Manager Talasila Kameswara Rao emphasized the bank’s commitment to facilitating MSME loans and highlighted advancements in digital lending, which have simplified the process of availing financial assistance. The event also focused on raising awareness about the role of MSMEs in economic growth and the support offered by UBI in fostering their development.

UBI Nellore regional head A Rajasekharam elaborated on the bank’s efforts in promoting MSMEs and informed attendees about various financial services available to SHG members. Additionally, customer experiences and the bank’s service offerings were shared with the participants.

The outreach program saw active participation from bank managers representing 63 branches across the district, underscoring UBI’s extensive involvement in strengthening financial access for MSMEs and SHGs in the region.

News source: The Hindu

Union Bank of India (UBI) sanctioned loans worth nearly Rs 1 billion to Micro, Small, and Medium Enterprises (MSMEs) in SPSR Nellore district during its Mega MSME Outreach Camp held on Wednesday. The event, organized by UBI’s Nellore regional office at PSR Convention in the city, witnessed participation from over 800 attendees. As part of the sanctioned amount, approximately Rs 500 million was disbursed through cheques to self-help group (SHG) members. The initiative was supported by key officials, including the Mission for Elimination of Poverty in Municipal Areas (MEPMA) Project Director E Radhamma and District Rural Development Agency (DRDA) Project Director Nagaraja Kumari, who attended as chief guests. UBI General Manager Talasila Kameswara Rao emphasized the bank’s commitment to facilitating MSME loans and highlighted advancements in digital lending, which have simplified the process of availing financial assistance. The event also focused on raising awareness about the role of MSMEs in economic growth and the support offered by UBI in fostering their development. UBI Nellore regional head A Rajasekharam elaborated on the bank’s efforts in promoting MSMEs and informed attendees about various financial services available to SHG members. Additionally, customer experiences and the bank’s service offerings were shared with the participants. The outreach program saw active participation from bank managers representing 63 branches across the district, underscoring UBI’s extensive involvement in strengthening financial access for MSMEs and SHGs in the region. News source: The Hindu

Next Story
Real Estate

Shriram Properties Launches ‘Codename: The One’ in Bengaluru

Shriram Properties (SPL), a leading real estate developer focused on the mid-market and mid-premium segments, has announced the launch of its latest residential project under the banner “Codename: The One” in Bengaluru’s Electronic City corridor. This feature-rich gated community will offer 340 spacious 2- and 3-BHK residences, with a total saleable area of approximately 5 lakh square feet and an estimated revenue potential of over Rs 3.5 billion. The project is expected to be developed over a span of more than three years.  Strategically located near the Bommasandra Metro stat..

Next Story
Resources

India Warehousing Show 2025 Closes with Strong Global Presence

The 14th edition of the India Warehousing Show (IWS) 2025 concluded successfully at Yashobhoomi (IICC), Dwarka, drawing participation from over 300 exhibitors across 15 countries and welcoming 15,000+ visitors. Recognised as India’s leading platform for warehousing and logistics excellence, IWS 2025 offered a comprehensive display of cutting-edge automation, sustainable warehousing solutions, and next-gen supply chain technologies. The show was inaugurated by Shri Pankaj Kumar, Joint Secretary – Logistics, DPIIT, Ministry of Commerce and Industry, Government of India. In his opening a..

Next Story
Equipment

MHIET Launches 450kW Gas Cogeneration System with H₂ Co-Firing

Mitsubishi Heavy Industries Engine & Turbocharger (MHIET), part of the Mitsubishi Heavy Industries Group, has launched a new 450kW gas cogeneration system, the SGP M450, jointly developed with Toho Gas Co.,. The system supports hydrogen co-firing at up to 15 vol per cent, with no loss in performance or reliability.  The system is currently available in the Japanese market, and has been developed from the existing GS6R2 city gas engine platform. Key modifications were made to the fuel gas and engine control systems to enable hydrogen co-firing.   Verified through de..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?