Public sector lender, United Bank of India has reportedly decided to stop fresh lending to various sectors such as infrastructure, steel and iron, airlines and real estate. However, the bank would continue to lend to public sector companies in these sectors. The bank has stopped fresh lending as the non-performing assets in these sectors have been going up and the recovery has also been poor.
United Bank of India has emerged as a strong and efficient banking organization over the years and plays an integral role in the socio-economic development of the Eastern and North-Eastern States of the country.
