ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Union Bank of India-Report of the Board of Directors

Report of the Board of Directors 1972 WAS a year of set-backs in the country's economy as a whole. Among other things, drought conditions in several parts of the country and the consequent loss of kharif crop, shortage of power in many States and the resultant deceleration of the otherwise improving trend in industrial production, created shortages and spiralling prices. In this environment, the banking industry was also affected, with its pace of growth slackening, compared to 1971. The scheduled commercial banks opened lesser number of branches, registered a lower deposit growth rate

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