Union Bank of India zooms on launching SampUrna ATM

Union Bank of India is currently trading at Rs. 235.20, up by 12.15 points or 5.45% from its previous closing of Rs. 223.05 on the BSE.

The scrip opened at Rs. 227.15 and has touched a high and low of Rs. 239.45 and Rs. 221.90 respectively. So far 171882 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 359.35 on 04-Apr-2011 and a 52 week low of Rs. 155.50 on 29-Dec-2011.

Last one week high and low of the scrip stood at Rs. 273.85 and Rs. 221.30 respectively. The current market cap of the company is Rs. 12337.54 crore.

The promoters holding in the company stood at 57.07% while Institutions and Non-Institutions held 25.56% and 17.37% respectively. 

Union Bank of India has reached the milestone of 3000 ATMs and has introduced a host of new products and services on ATMs. With this, the ATMs of the bank are now known to be SampUrna ATMs. The bank has introduced three remittance products on ATMs viz. NEFT, IMPS and Union eCash. All these remittance products will support online transaction and provide SMS confirmation to the sender and receiver.

National electronic funds transfer (NEFT) which up till now is available through branches and internet is now made available through ATMs also. Interbank Mobile Payment Service (IMPS) is interbank funds transfer utility using mobile number and MMID (Mobile Money Identifier). The service for the first time is being introduced on ATMs. Besides, Union eCash will enable remittances to anyone based only on mobile number alone. No account number or bank/branch codes are necessary. The beneficiary can draw money from any of the Bank’s ATMs using a pair of codes, generated during the transaction.

The bank has also introduced the facility of investments into its own mutual fund Union KBC AMC through ATMs. Union Bank debit card holders having an existing folio with Union KBC MF can now conveniently make their mutual funds investments through ATM. They can also make redemption requests.

The bank has also enabled self generation of ATM pin for customers. Customers of bank will be able to generate the ATM PIN on their own, by calling the toll free IVR using their registered mobile number in two easy steps. Hereafter Union Bank Customers need not wait for receiving the regenerated PIN through PIN Mailers.

Union Bank also unveiled Student Combo Cards. These cards serve dual purpose of Debit card as well as Identity cards. Further, the bank has tied up with Loyalty Rewardz for offering reward points on card transactions at merchant establishments and internet.