United Bank of India, a premier public sector bank, has recently entered into an agreement with a Merchant Establishment to provide banking services to the customers of the establishment. The move is aimed at providing enhanced accessibility and convenience to customers who frequent the establishment.

The agreement will allow the Merchant Establishment to offer basic banking services such as cash deposit, cash withdrawal, and fund transfer to customers, without them having to visit a bank branch. These services will be provided through the Merchant Establishment`s point-of-sale (POS) terminal, which will be integrated with United Bank of India`s banking system.

This move is expected to benefit a large number of customers who have limited access to banking services, particularly in rural areas where bank branches are few and far between. For these customers, the Merchant Establishment will act as a virtual bank branch, providing basic banking services.

The agreement is also expected to benefit the Merchant Establishment by increasing footfall and customer loyalty. By providing banking services, the establishment will be able to offer an additional service to customers, which will in turn lead to increased customer satisfaction and repeat business.

The agreement between United Bank of India and the Merchant Establishment is also a step towards promoting digital transactions, which is a key thrust area of the Government of India. By providing banking services through the Merchant Establishment`s POS terminal, customers will have the option of making digital transactions, which is safer and more convenient than cash transactions.

United Bank of India has always been at the forefront of providing innovative banking solutions to its customers. This agreement with a Merchant Establishment is yet another step towards enhancing customer experience and promoting financial inclusion. With this move, United Bank of India will be able to reach out to a larger customer base, and provide banking services to customers who were previously underserved.