Union Bank Expands in Uttar Pradesh with Strategic Government Salary Account Partnership

Mumbai: In a significant step toward expanding its institutional banking footprint, Union Bank of India has signed a Memorandum of Understanding (MoU) with the Secretariat Administration Department, Government of Uttar Pradesh, in Lucknow, for onboarding the salary accounts of its employees.

The agreement marks a strategic partnership aimed at strengthening the bank’s presence in one of India’s largest and most economically significant states. Under the MoU, Union Bank of India will provide comprehensive salary account services to employees of the Secretariat Administration Department, offering them access to a wide range of retail banking products and digital financial solutions.

Senior officials from both organizations were present during the signing ceremony. The collaboration is expected to contribute to sustainable growth in the bank’s Current Account Savings Account (CASA) portfolio. CASA deposits form a critical component of a bank’s low-cost funding base, enhancing its ability to maintain healthy margins while supporting credit expansion.

Beyond deposit growth, the partnership is also anticipated to open avenues for high-quality retail lending opportunities, including home loans, personal loans, vehicle loans, and other tailored financial products for government employees. By leveraging its technology-driven platforms and customer-centric approach, Union Bank of India aims to deliver seamless banking services and strengthen long-term relationships with employees covered under the agreement.

Officials highlighted that the collaboration aligns with the bank’s broader strategy of deepening institutional engagement across key government departments and public sector bodies. With Uttar Pradesh being a major focus market, the agreement reinforces the bank’s commitment to expanding its market presence in the state through sustainable and relationship-driven growth.

Union Bank of India continues to focus on strengthening its retail franchise while enhancing service delivery through digital innovation and personalized banking solutions. The MoU with the Secretariat Administration Department represents another milestone in the bank’s ongoing efforts to build enduring partnerships and create long-term value for stakeholders.