What is Union Bank's business growth target in Uttar Pradesh?

Union Bank aims to scale its business portfolio in Uttar Pradesh to approximately ₹3 lakh crore over the next three to four years.

What is Uttar Pradesh's economic target and current standing?

Uttar Pradesh has set an ambitious target of becoming a $1 trillion economy by 2030 and is currently India's second-largest economy with a GSDP of ₹25.47 lakh crore in FY24.

How is Union Bank supporting MSMEs in Uttar Pradesh?

Union Bank's MSME business in Uttar Pradesh stands at approximately ₹15,700 crore, and it supports this segment through cluster-specific financing models with concessional terms.

Home / Business and Economy / UP's $1T Dream: Union Bank Fuels Growth

UP's $1T Dream: Union Bank Fuels Growth

28 Jan

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Summary

Union Bank aims to scale UP business to ₹3 lakh crore in 3-4 years.
Uttar Pradesh aims for $1 trillion economy by 2030.
Bank's retail loan book in UP reached ₹25,000 crore by December 2025.

Uttar Pradesh is accelerating towards its goal of becoming a $1 trillion economy by 2030, with Union Bank of India playing a pivotal role. The bank aims to scale its business in the state to ₹3 lakh crore over the next three to four years, supporting infrastructure development, MSMEs, agriculture, and digital banking initiatives.

Public sector banks collectively hold nearly ₹20 lakh crore in business exposure in Uttar Pradesh, with Union Bank alone accounting for about ₹2 lakh crore. The state's GSDP reached ₹25.47 lakh crore in FY24, with strong post-COVID growth and a revenue surplus of ₹37,000 crore in FY23.

Union Bank's involvement includes ₹8,000 crore in infrastructure financing for major projects like expressways. Its retail loan book in UP stood at ₹25,000 crore by December 2025, showing 15% year-on-year growth. The bank also supports MSMEs with ₹15,700 crore and focuses on agri-business through initiatives like "Agri Utsav Drive."