Ranchi, Nov 13 (KNN) Union Bank of India (UBI) has sanctioned a loan to Micro, Small and Medium Enterprises (MSME) units on the 102nd Foundation Day of the bank.

Reportedly, "MSME Loan Distribution Ceremony" was organised on the occasion of its 102nd foundation day of the bank where a total of 102 customers belonging to the MSME sector received a loan approval letter. A loan of 68 crore, a loan of 7.58 crore among 100 customers in the retail loan category while a loan of 12.68 crore among a total of 253 customers in the agricultural loan category.

During the MSME loan distribution camp, out of the above approved loan, 50 Ranchi based customers also received loan acceptance letters by UBI General Manager and Circle Head, Anil Kuril.

Kuril also said that MSME customers play an important role in the development of the country as well as their business.