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Union Bank of India gives nod for 20,000 Banking BC point for Nextgen Vakrangee Kendra

Union Bank of India has granted approval for 20,000 Banking Business Correspondent (BC) point for Nextgen Vakrangee Kendra to Vakrangee Finserve, a subsidiary company of Vakrangee.

The Bank shall allot in a batch of 2,500 BC points whereby 70-80% of BC points would be in Tier 5 and 6 locations and which would include 5% of the outlets to be opened in aspirational districts and Left wing extremism (LWE) areas.

Union Bank of India is one of the largest government-owned banks of India. The Bank offers products and services in three categories – Deposits, Loans and Advances, and Remittances & Collections. Its segments include treasury operations, corporate & wholesale banking, retail banking and other banking operations.

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