After rolling out the SMS banking services in December 2007, Union Bank of India (UBI) is ready to start the mobile banking services by the end of this month (June 2008).

In order to launch the service, UBI has joined hands with Chennai-based BK Systems as its technology partner to offer up complete banking services to the bank clients through their mobile handsets.

Some of the banking services on offer consist of account-to-account money transfer, mobile payments, account status enquiry and other services. 

While lecturing upon the plan, Union Bank’s executive director, Mr. TY Prabhu, stated, “The bank expects to launch the service by the end of June and is presently undertaking the process of implementation.”

Union Bank of India was inaugurated by Mahatama Gandhi and the Bank commenced its operations in 1920. The Bank is a Public Sector Unit with 60.85% Share Capital held by the Government of India. The rest 39.15 % of Share Capital is presently held by Institutions, Individuals and Others.

At 2:15 pm, shares of the bank declined 1.3%, to trade at Rs 127.40 on the Bombay Stock Exchange (BSE).