President of India Graces UCO Bank's 80th Anniversary Celebration and Inaugurates 50 New Branches Virtually

The celebration of UCO Bank’s 80th anniversary was graced by the presence of India’s President, Smt. Droupadi Murmu, in Kolkata on March 28, 2023. During the event, the President virtually inaugurated 50 new UCO Bank branches and laid the foundation stone for the renovation of the Sri Aurobindo Integral Education and Research Centre in Rairangpur, Odisha, under the bank’s CSR initiative.

In her address, the President praised UCO Bank’s pioneering and leading role in the banking sector since its inception in 1943. The bank has contributed significantly to India’s economic development by providing credit and financial serv

ices to various sectors, including agriculture, industry, trade, infrastructure, and social welfare. Additionally, UCO Bank has supported the nation’s progress by backing various government schemes and initiatives. The President expressed her confidence that UCO Bank would continue to uphold its legacy and reputation while embracing change and innovation in the coming years.

The President highlighted that banks have two significant responsibilities – being custodians of public money and using today’s savings to create assets for tomorrow.

Balancing these responsibilities is a challenge for every bank, and failure to strike the right balance has led to economic worries in various parts of the world. The President expressed her faith in UCO Bank’s professional staff and alert leadership to discharge these responsibilities effectively and sustain the trust reposed in them by millions of people who save their money in the bank.

The President also spoke about the transformative impact of fintech on how people access and manage their money. She praised India’s widespread adoption of fintech, even among the poorest and remotest areas, as proof that people in India are open to adopting technology that empowers them and provides social justice. The President acknowledged UPI’s global recognition as one of the most successful fintech innovations.