Date:27/06/2008 URL: http://www.thehindu.com/2008/06/27/stories/2008062758160200.htm

Andhra Pradesh

UBI branch comes in for praise

Staff Reporter

VISAKHAPATNAM: Minister for Commercial Taxes Konathala Ramakrishna hailed the Union Bank of India (UBI) for extending loans to people under various government schemes.

At the 32nd annual celebrations of the UBI’s Thummapala branch at Anakapalle on Thursday, he lauded the branch for making giant strides in the last three decades. The branch, which commenced operations with just Rs.52,000, was today doing a business of Rs.50 crores. It had extended loans to the extent of Rs.260 lakhs under various schemes to different sections of people. He called upon the borrowers to repay the loans taken on time.

The Minister and the bank’s Chief Manager M.M. Bhaskara Rao distributed loans to members of SHGs and others. Branch Manager Nandagiri Subba Rao presided. Zilla Parishad Chairman Gorle Rammurthy Naidu, DRDA Project Director Murali and Anakapalle Municipal Commissioner Purnachandra Rao were among those who attended.