Vizag or Vishakhapatnam is not only a popular tourist destination but also the largest and one of the most popular cities in the Indian state of Andhra Pradesh. Vizag has a natural harbor and the oldest shipyard in the country. The cargo port at Visakhapatnam is one of the busiest in India. This Port city is considered as a jewel on the eastern coast of India and it is a prized territory of the Andhra Pradesh government. The financial capital of the state is located in Vishakhapatnam, thus increasing the importance of the city. Vizag offers a rich and ancient culture and the lip-smacking dishes of authentic Andhra cuisine alongside a feel of a modern developing city. Vishakhapatnam is a harmonious amalgam of the enchanting past and the bustling present, along with a breathtaking panoramic view of beautiful golden beaches, lofty hills with cliffs, lush green fields, verdurous valleys and splendid monuments. Vizag has some of the most beautiful beaches in the country that offer scenic beauty of a picturesque landscape. The Ramakrishna beach and the Rushikonda beach get visitors from all over the nation. This city has witnessed waves of development after the separation of Telangana and Andhra Pradesh as the AP government is working hard to transform the city into a smart city.
The Union Bank of India was incorporated on 11th November 1919 with its headquarters in Mumbai. In the year 1921, The Head Office of the Bank in Mumbai was inaugurated by Mahatma Gandhi. The Bank has a presence of over 4200+ branches across India. The core values of bank management are reflected in the fact that the bank has shown an exponential profit growth in last 96 years of its working. The Union Bank has been playing a very proactive role in the economic growth of India. It extends credit to meet the requirements of different sectors of the economy such as Industries, exports, trading, agriculture, infrastructure. Along with that, there are individual sectors in which the bank has given credit to influence economic growth and to earn from a well-diversified portfolio of assets. The resources of the bank are mobilized through Term Deposits, Current, Savings, and through refinance and borrowings from abroad. The Union Bank consists of large customer base of over 5.7 crores. On the technology front, the Bank has been an early adopter of technology due to which 100% of its branches are computerized. Shri Rajkiran Rai G. is the current Managing Director and CEO of the bank.