Union Bank of India : Proceedings of the AGM

Proceedings of the 21st Annual General Meeting of Union Bank of India held on

August 04, 2023 at 11.00 AM through VC/OAVM

• In accordance with the Notice dated June 23, 2023 and addendum thereto dated July 20, 2023, the 21st Annual General Meeting (AGM) of the Bank was held on Friday, 4th August, 2023 at 11.00 am (IST) at Central Office, Union Bank of India, Mumbai (the deemed venue of the Meeting) through Video Conferencing (VC) or Other Audio Visual Means (OAVM) facility in compliance with MCA I SEBI I MOF guidelines.
• Shri Srinivasan Varadarajan, Non-Executive Chairman of the Bank chaired the meeting pursuant to Regulation 59 of the Union Bank of India (Shares and Meetings) Regulations, 1998, as amended.
• The Chairman, after ascertaining the quorum, called the meeting to Order and welcomed the shareholders present. The Chairman then introduced the Directors present. The Chairman of the Audit Committee and Stakeholders Relationship Committee was also present in the meeting.
• The Chairman then informed that the Notice convening the Annual General Meeting together with Integrated Annual Report for the financial year ended on March 31, 2023 and addendum to the Notice of AGM has been circulated to the shareholders of the Bank electronically as well as the Notice was published in the newspapers and then with the permission of the shareholders participated, the notice convening the meeting and addendum thereto were taken as read.
• The Chairman then addressed the shareholders. He apprised the shareholders on the macro economy, present banking environment, business & financials of the Bank for FY 2022-23, dividend recommendation, digital initiatives, strengthening human capital, Bank's approach to Environment, Social and Governance (ESG) and awards & accolades received by the Bank. He further apprised about Strategic Transformation initiatives taken by the Bank and its way forward.
• The Chairman then moved the resolution for the agenda nos. 1 to 4 as detailed in the Notice dated June 23, 2023.
• The MD & CEO, Ms. A. Manimekhalai then moved the resolution for the agenda no. 5 as detailed in the Notice dated June 23, 2023 with regard to appointment of Chairman.
• The Chairman then moved the resolution for the agenda nos. 6 to 9 as detailed in the Notice dated June 23, 2023 read with addendum thereto dated July 20, 2023.
• The Chairman then invited participation of the shareholders for discussing the agenda items. After active participation by various speaker shareholders, the Chairman responded to their queries to their satisfaction.
• Thereafter, the Chairman made the announcement for opening of e-voting during the AGM for 15 minutes for shareholders who have not casted their votes through remote evoting and it was informed that the consolidated results of remote e-voting and e-voting during the AGM along with the consolidated report of the Scrutinizer shall be placed on the website of the Bank and also on the website of e-voting service provider, KFin Technologies Limited.