Union Bank Of India Expands Export Finance For MSMEs

To promote exports and GOI’s vision of VIKSIT BHARAT by 2047, Union Bank of India has launched two new Export Credit Working Capital Schemes - “Union Niryat Sugam” & “Union Niryat Protsahan Yojana”

“Union Niryat Sugam” Scheme provides Export Credit Working Capital upto Rs.80 crore for all manufacturer exporters including non-MSME, but (excluding Traders, Merchant exporter, Gems, Jewellery & Diamond and Iron ore Exporters). Under this scheme, Collateral security is not mandatory. The Scheme has been specifically designed to empower exporters with easier access to affordable export finance, enabling them to compete effectively in international markets.

“Union Niryat Protsahan Yojana” provides Collateral free Export Credit Working Capital upto Rs.10 crore for all Micro and Small exporters (Including Traders, Merchant exporter, Gems, Jewellery & Diamond and Iron ore Exporters). Under this scheme, there is no requirement of collateral security or third-party guarantee. This scheme is designed for micro & small exporters extending affordable & collateral free export finance.

In both the schemes, competitive interest rates are offered in Rupee and Foreign Currency linked with external benchmark and provide finer exchange margin with direct dealing access.

Union Bank of India has always been in the forefront in support for Manufacturer-exporters and MSME with wise range of credit facilities designed to ease working capital pressures and improve global competitiveness. 

Union Bank of India enjoys 2nd position in Export credit amongst all scheduled commercial bank’s with nearly 10% of market share.