logo
Union Bank of India Launches MSME & CASA Outreach Programs to pass on benefits of back-to-back RBI-MPC rate cuts and Deepen Customer Engagement

Union Bank of India Launches MSME & CASA Outreach Programs to pass on benefits of back-to-back RBI-MPC rate cuts and Deepen Customer Engagement

Business Upturn30-04-2025
MUMBAI, India , April 30, 2025 /PRNewswire/ — Union Bank of India , today announced the launch of its MSME & CASA Outreach program, a nationwide initiative aimed at strengthening relationships with existing customers, expanding outreach to new MSME clients, and driving sustainable growth in CASA deposits.
The countrywide outreach camps follow the RBI Monetary Policy Committee's back-to-back rate cuts which saw interest rates on bank credit fall 50 basis points. Union Bank's MSME loan now starts at an affordable interest rate of 8.75%.
The programs will be conducted across 62 locations from April 28 to 30, 2025 , bringing together existing and potential customers, industry associations, trade bodies, and government agencies. These events will serve as collaborative platforms to address financial needs, promote digital banking awareness, and introduce tailored financial solutions.
The MSME & CASA Outreach program will focus on understanding customers' financial needs, showcasing bank products, generating leads, and gathering feedback for continuous improvement in service quality and customer satisfaction. The program will cater to existing & prospective MSME customers, start-ups, young professionals, emerging entrepreneurs, women entrepreneurs, vendors and suppliers associated with large industries, and representatives from industry associations, trade bodies, and chambers of commerce. The CASA Outreach program is designed for prospective premium CASA customers, government department heads, doctors, and other professionals
The event will be presided over by senior officials from Union Bank and will provide a platform for customers to engage with the bank and share their experiences.
During the outreach, customers will have the opportunity to upgrade their CASA accounts and activate salary accounts on the spot. The program will also feature on-spot locker sanction, Vyom digital banking registration, and dedicated help desks for internet banking and mobile banking activation.
View original content:https://www.prnewswire.com/in/news-releases/union-bank-of-india-launches-msme–casa-outreach-programs-to-pass-on-benefits-of-back-to-back-rbi-mpc-rate-cuts-and-deepen-customer-engagement-302442638.html
Disclaimer: The above press release comes to you under an arrangement with PR Newswire. Business Upturn takes no editorial responsibility for the same.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Eva Longoria's Tequila Brand Involved In Bitter Legal Battle With Famous Supermodel's Family
Eva Longoria's Tequila Brand Involved In Bitter Legal Battle With Famous Supermodel's Family

Yahoo

timea day ago

  • Yahoo

Eva Longoria's Tequila Brand Involved In Bitter Legal Battle With Famous Supermodel's Family

has found herself in hot legal drama as her tequila brand, Casa Del Sol, has been dragged to court by supermodel Brinkley's son's company, Rove, for $2 million. According to court documents, the actress's brand has failed to hold up its end of the bargain in a multi-year advertising campaign deal. Longoria's company is aware of the legal trouble brewing and has taken up immediate action by launching its own investigation into the matter. Eva Longoria's Casa Del Sol Allegedly Failed To Release Payments Due For Advertising Deal With Rove Longoria's Casa Del Sol sought to further promote its business by signing an agreement with Rove, a ride-sharing service co-founded by Jack Brinkley-Cook. Casa Del Sol agreed to pay for advertising campaigns to be displayed on Rove cars in The Hamptons, Aspen, Palm Beach, and other targeted locations. However, as confirmed by Page Six, the actress's brand has not completed the payments due. According to court documents obtained, Casa Del Sol had payments overdue in November and December 2023, which also extended to January 1, 2024. However, when the supermodel's son's ride-hailing service reached out to the tequila brand about the issue, they allegedly only received empty promises. Rove eventually suspended the advertising campaigns in January 2024 after it became clear that no payment was forthcoming from Longoria's brand. Notably, while the "Desperate Housewives" actress is Casa Del Sol's co-founder, she was not named as a defendant in the lawsuit. The Tequila Brand Has Spent Substantial Money On Other Promotional Events Part of Rove's displeasure with Casa Del Sol is that the tequila brand had been hosting lavish parties and events while still owing their alleged payment. "Despite Casa Del Sol's repeated assurances to Rove that those payments would be forthcoming. Casa Del Sol was, at the same time, spending lavishly on extravagant promotional junkets, parties, and other events — Casa Del Sol ultimately failed and refused to pay," the lawsuit read. Agreeably, Casa Del Sol hosted a star-studded event with big names such as DJ Diplo, Mario Carbone, and Rocky Barnes in 2023. The lavish event was held in a rented boutique hotel in Aspen, and no expense was spared. That same year, the tequila brand hosted popular TikTok influencer Alix Earle and her friends in the Hamptons, spending a substantial amount of money to rent a mansion for their stay. Rove Has Allegedly Incurred Significant Costs From Its Deal With Casa Del Sol Rove's lawsuit against Casa Del Sol further states that the company has taken legal action because it has incurred major financial losses as a result of the advertising deal. The ride-hailing brand poured in money of its own to procure unused vehicles, technical infrastructure, and advertising materials needed for the campaign. The brand also prepared for the campaign by hiring drivers, staff, and the manpower needed to put the campaign together. The company allegedly stands to lose a substantial amount of money should there be no restitution from Longoria's brand. Therefore, it is seeking $2 million for compensation. The Actress's Tequila Brand Is Treating The Matter With 'Utmost Seriousness' As it stands, Casa Del Sol is aware of the impending trouble and its implications and is taking it seriously. The brand's lawyer, Andrew Bochner, said the company is already looking into it. "The Company had already commenced an investigation, and is currently reviewing these matters with the utmost seriousness it deserves," Bochner said. "We are exploring all available options, and intend to respond through the appropriate channels," he added. Eva Longoria No Longer Resides In The U.S. Full-Time Longoria's legal drama comes barely nine months after she revealed that she now spends most of her time between Spain and Mexico. As reported by The Blast, there was speculation that the actress's decision to move was fueled by President Donald Trump's re-election. However, she cleared the air, saying that her decision was mostly because of work. "Will you please let them know I didn't move out of the United States because of [President-elect Donald] Trump," she said. At the time, the TV star was abroad working on the show, "Searching For Mexico," and "Land of Women," an Apple TV+ series.

How to unlock e-commerce in Africa
How to unlock e-commerce in Africa

Fast Company

time01-08-2025

  • Fast Company

How to unlock e-commerce in Africa

Africa's e-commerce sector is experiencing a renaissance. In 2025, Africa's retail e-commerce is expected to reach over $39 billion, and $55 billion by 2029. This growth is driven by ambitious brands, from contemporary fashion labels to innovative lifestyle businesses, capturing both local and international demand. These businesses are leveraging digital commerce and modern payment rails to reach more customers than ever before. E-commerce is also emerging as a critical lever to help businesses recover from economic shocks and unlock the trade potential of the African Continental Free Trade Area (AfCFTA). Yet one critical barrier threatens to limit their growth: access to affordable, flexible credit. Medium-scale e-commerce enterprises, those beyond micro-entrepreneurship but not yet large corporations, face a unique financing challenge. These businesses are too large for microfinance but often too small, or perceived as too risky, for traditional commercial banking. Despite steady sales, loyal customers, and growing brand equity, they struggle to secure financing to scale production, expand logistics, or invest in technology to serve a wider market. The financing shortfall for sub-Saharan Africa exceeds $331 billion, with medium-sized consumer-facing businesses among the hardest hit. A report by USAID and eTrade Alliance which surveyed over 2,000 micro, small, and medium-sized enterprises (MSME) in Kenya, Nigeria, and South Africa, shows that these businesses are eager to expand e-commerce capabilities, internet connectivity, and invest in digital transformation, but access to finance remains one of their greatest barriers. Consider, for instance, a mid-sized Nairobi fashion retailer that grew steadily through an online storefront but struggled to finance improved packaging and marketing to reach buyers in Europe. Despite years of consistent sales, it was unable to access credit on reasonable terms because traditional lenders viewed its cash flows as unpredictable. Cases like this are widespread. As Africa's middle class expands, with roughly 212 million people projected to reach middle income status by 2030 and consumer spending expected to hit $2 trillion in 2025—the demand for e-commerce will surge. However, tight credit access could block supply-side growth. When growing brands cannot secure credit to expand inventory, strengthen logistics, or build new supplier partnerships, they risk ceding market share to bigger, better capitalised competitors. These missed opportunities ripple through ecosystems and impact suppliers, logistics firms, and technology partners that depend on a thriving e-commerce sector. 4 things that need to improve Credit is not a luxury for these businesses. It is essential to transform local brands with global ambitions into long-term economic engines. It can do so by following these four principles. Smarter lending evaluation. Information asymmetry hinders small and medium enterprise (SME) financing in Africa; many small businesses lack formal financial records and credit history. This leads traditional lenders to demand high collateral given difficulty in assessing risk. To overcome this, lenders should use real-time transactional data (e.g., e-commerce sales, inventory, customer reviews) to accurately assess creditworthiness for excluded SMEs. Data-sharing partnerships. Payment providers, marketplaces, distributors, and banks should collaborate to share transaction histories and supply chain data, helping lenders assess risk with confidence. Blended finance and risk-sharing facilities. Scale public-private instruments like the Africa Guarantee Fund and the Bank of Industry risk-sharing arrangements. These reduce lenders' risks and help lower the cost of credit. Targeted financing for digital transformation. As the Alliance for eTrade Development research shows, many MSMEs want to invest in better internet connectivity, digital marketing, and fulfilment capabilities but cannot secure affordable loans for these upgrades. New financing products tailored to e-commerce investment would directly unlock their growth potential. The opportunity ahead As governments and the private sector work to advance e-commerce policy frameworks under AfCFTA, prioritizing simpler customs procedures, strengthening cross-border payments, and improving digital ID systems, credit access must rise to the top of the agenda. Payments are a foundation, but credit is a growth driver. We must build the financial tools that empower Africa's most ambitious entrepreneurs to dream bigger, scale faster, and compete globally. When they grow, Africa grows.

SIDBI's Latest MSME Outlook Survey Reflects Growing Confidence and Resilience in Q1 FY2026
SIDBI's Latest MSME Outlook Survey Reflects Growing Confidence and Resilience in Q1 FY2026

Entrepreneur

time31-07-2025

  • Entrepreneur

SIDBI's Latest MSME Outlook Survey Reflects Growing Confidence and Resilience in Q1 FY2026

More than half of the MSMEs in manufacturing and trading reported sales growth during the quarter, while 42 per cent of services-sector MSMEs saw an uptick in sales and nearly half reported stable figures You're reading Entrepreneur India, an international franchise of Entrepreneur Media. The Small Industries Development Bank of India (SIDBI) has released the third edition of its quarterly MSME Outlook Survey, covering the April–June 2025 period (Q1 FY2026). The findings indicate steady growth in business sentiment and expectations across India's Micro, Small, and Medium Enterprises (MSMEs), with improvement noted across several operational indicators such as sales, profitability, skilled labour availability, and access to finance. The M-BCI for Q1 FY2026 rose to 63.75, up from 60.82 in the previous quarter, suggesting continued momentum in overall business conditions. The M-BEI, which reflects future expectations, stood at 62.19 for the next quarter and is projected to climb to 67.88 for the same quarter next year. These indices (on a scale of 0–100, with above 50 indicating positive sentiment) reflect sustained optimism, particularly within the trading and services sectors. While there is a slight dip projected for Q2 FY2026, attributed to broader global uncertainties, long-term expectations remain strong. Sectoral trends Sales performance remained solid. More than half of the MSMEs in manufacturing and trading reported sales growth during the quarter, while 42 per cent of services-sector MSMEs saw an uptick in sales and nearly half reported stable figures. Looking ahead, 60 per cent of businesses across sectors expect further growth in the next year. Profitability also held up despite rising input costs. Margins improved across the board, particularly in the services and trading sectors, which anticipate slightly steeper cost increases but remain confident in maintaining profitability. One of the notable trends this quarter was an improvement in skilled labour availability. Around one-fourth of MSMEs reported better access to skilled workers, a concern that has lingered in previous quarters. Expectations point toward further improvements in the coming year. Capacity utilisation rose across manufacturing and services, with nearly 20 per cent of respondents operating above normal capacity levels. Forward-looking estimates suggest this will rise further, with 29 per cent of MSMEs expecting increased utilisation over the next 12 months. Financing conditions also showed improvement. The percentage of MSMEs confirming sufficient access to finance increased to 88 per cent in this round, up from 79 per cent previously. The increase was particularly significant in the trading sector. As sales and capacity expand, the data points to a larger opportunity for formal credit to support business needs. Meanwhile, concerns about the high cost of borrowing persist, though the pressure appears to be easing. Respondents reported a slowdown in the pace of finance cost increases, aligning with the Reserve Bank of India's recent 100 basis point repo rate cut since February 2025. Transmission of lower rates is underway, potentially offering some relief to MSMEs in the coming quarters. On the other hand, the ease of doing business has improved for nearly 50 per cent of the surveyed MSMEs. Key improvements were reported in regulatory areas like return filing and compliance. Looking ahead, over 60 per cent of respondents expect further progress on this front in the next year.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store