Mint’s Pivot or Perish series, Rajkiran Rai G., managing director and chief executive officer, Union Bank of India, discusses how the bank is adjusting to the new normal.
Edited excerpts:In what ways is Union Bank of India pivoting with the changed realities brought in by covid-19?A significant volume of transactions has moved to digital platforms.
For instance, the use of mobile apps has increased. We are dissuading customers from coming to the branches. The bank has started a pilot project where customers need not go to the branch for documentation for personal and vehicle loans, and as we move on, we will expand it to other loans as well.