We continue to create value and enhance customer experiences across 244 districts and 24 states and union territories in India through our 575 banking touch points that enable us to strengthen our reach. Our liabilities book through branch banking grew at a robust pace during FY 2021-22.
Quick facts
Liabilities Book of Branch Banking 64% y-o-y growth
CASA Book
Privilege SA Book
31% y-o-y growth
Highlights of FY 2021-22
Launched Classic Savings Account on October 1, 2021 with the objective to create a sizeable and granular retail liabilities franchise by offering the best-in-class services to a large customer base
Continued emphasis on quality sourcing and improving ATS has resulted in CASA book increasing significantly
Launched Platina Fixed Deposit on January 7, 2022, a Term Deposit account offering additional interest over and above Regular Fixed Deposit
Focused on business improvement and process streamlining with back-to-back 100-days plan
Launch of BusiMoni OD
Liabilities Product Suite
Current Account
Term Deposit Account
Savings Account
Advance Against Deposit/OD
Debit Cards
We continue to serve our core segments with a focused approach by launching new products and services which are aligned to their needs. While keeping the pace of acquisition in line with the growth trajectory of the bank, our emphasis also lies in engaging and retaining our existing customers. We have a robust plan in place to expand and branch out to newer locations and thereby broaden our reach and presence. Through digital, we would be looking at automating processes to acquire and service customers and thereby enhance their experience. Keeping in mind the evolving needs of our institutional segments, we aim to redesign our TASC proposition to make it more competitive.
Sumit Thomas
Head of Branch Banking, TASC & TPP
Classic Savings Account
A new savings bank account, with a choice of cards that caters to the financial products and service needs of the vast mass market segment. ‘Classic’ will serve as an entry level savings bank account, with features and differentiated benefits, designed keeping in mind the needs of the aspiring middle-income segment. The account offers a higher cash deposit limit, and free unlimited withdrawal, at any Ujjivan SFB branch, with no additional charges for non-home branch transactions.
Platina Deposit
Platina Deposit is a retail non-callable deposit product that offers higher interest over and above regular FD rates. It is well-suited to match the financial and service needs of our customers. The tenure of the product is from a minimum of 12 months to a maximum of 60 months.
Platina Deposit has grown to ₹187 Crores by the end of FY 2021-22, with an average ticket size of ~₹34,70,000.
BusiMoni OD
A collateral free overdraft facility on Current Account for existing and new customers. To continue to build a large portfolio for the target segment, BusiMoni OD will offer unsecured credit facility to small and medium retailers, where the interest payment will be on utilised amount rather than on the sanctioned amount. This facility will enable the Bank to strengthen relationship with retail customers, and attract higher number of current accounts.
Outlook
To enhance and deepen customer relationships, Branch Banking has started focusing on segmentspecific offerings in terms of new initiatives and programmes for dominant segments of the Bank.
Our emphasised focus on sourcing quality and product offerings with higher Average Ticket Size (ATS) in the last financial year has derived significant benefits. In continuation to this, we are planning to launch new product and service offerings (HNI programme, merchant QR codes, etc.) to strengthen banking solutions. Further, we are planning to open new branches to expand our reach and presence.
In order to better serve our institutional segment, we will be revamping our existing offering for TASC to match and make it competitive to industry standards. We will be looking to garner substantial deposits by deepening existing relationship and onboarding reputed clients such as local government bodies, municipal committees etc. through our dedicated team for TASC.
Following the large shift in consumer behaviour towards digital, the Bank is poised to strengthen its technological capabilities and digital solutions to tap the growth potential ahead. We are confident that through new fintech partnerships, enhanced product and service offerings, and key initiatives, Branch Banking is positioned well to take advantages of the opportunities, and positively look forward to creating more meaningful value for our customers.
