Entrepreneurship Development Institute of India (EDI), an autonomous and not-for-profit institute, set up in 1983, is promoted by apex financial institutions, the IDBI Bank Ltd., ICICI Bank Ltd., IFCI Ltd. and the State Bank of India (SBI), with support from the Government of Gujarat.
EDI’s pioneering activities in entrepreneurship development training have established that people from all walks of life can become business owners. It has demolished the myth that entrepreneurs are born, and cannot be made. Through well-conceived training interventions and capacity building activities over the last two decades, EDI has equipped thousands of people with entrepreneurial skills. To pursue its mission further, EDI has helped set up twelve state-level exclusive entrepreneurship development centers and institutes.
Realizing that education is an effective medium to reach out to a wider section of society, the institute contributed in institutionalizing entrepreneurship in business education. EDI also conducts a variety of programmes around thrust areas such as; Entrepreneurship Education & Research, Micro Enterprises, Micro Finance and Sustainable Livelihood, SMEs & Business Development Services, Social Entrepreneurship, Cluster Development and Women Entrepreneurship.
In order to promote and advance entrepreneurship Research, EDI established a Centre for Research in Entrepreneurship Education and Development (CREED). The Centre serves as a strong crucial link between theory and practice in the field of entrepreneurship with special focus on applied research informed by sound conceptual underpinnings.
The Institute has also successfully carried out the prestigious task assigned by the Ministry of External Affairs, Govt. of India, to set up Entrepreneurship Development Centres in Cambodia, Lao PDR, Myanmar and Vietnam. The Institute is presently working on establishing an ED centre in Uzbekistan and in five African countries viz. Senegal, Gabon, Rwanda, Namibia and Zambia.
EDI’s success and commitments have culminated in the recognition of its achievement by the Government of India and the State Governments. In the international arena, the entrepreneurship development efforts by way of sharing resources and offering training programmes, have helped EDI earn distinctions and support from The World Bank, Commonwealth Secretariat, UNIDO, ILO, FNSt, British Council, Ford Foundation and several other renowned agencies.
EDI’s core competence lies in providing innovative training techniques, competent faculty support, teaching and training materials. EDI shares the benefits of in-house research as well as experience in relevant spheres with various stakeholders in the field of entrepreneurship development.
In recognition of its international achievements, the United Nations Economic & Social Commission for Asia and Pacific (ESCAP), Bangkok, Thailand, has declared EDI as a ‘Centre of Excellence’
Union Bank of India is the 5th largest Nationalized Bank by assets with a pan India presence. Established in the year 1919, and having its first head office inaugurated by the father of nation, Mahatma Gandhi, Union Bank offers products and services for retail, agriculture, MSME, large corporate and NRI customers through 4100 branches, which includes 3 overseas branches and 6900 ATMs, dedicated call centre operating 24*7 in 9 languages and alternative channels like internet banking, mobile banking. The Bank has a business mix of Rs. 5,84,687 crore, with deposits of Rs 3,30,665 crore and advances of Rs 2,54,022 crore as of September 2015.
Union Bank is actively raising its international profile through overseas branches and representative offices. Union Bank has three foreign branches, at Hong Kong, Dubai International Financial Centre (DIFC), and Antwerp, Belgium and one wholly owned subsidiary at London. The Bank has representative offices at Shanghai (China), Abu Dhabi (UAE), Beijing (China), and Sydney (Australia). Union Bank has positioned itself as a prime remittance service provider for expatriates.
The Bank has a joint venture in life insurance with Bank of India and Dai-ichi Life Insurance Co of Japan as Star Union Dai-ichi Life Insurance Company. The Bank’s subsidiary for asset management business, Union KBC Asset Management Co, started operation in May 2011.
Union Bank was the first amongst large public sector banks (PSBs) which implemented 100 per cent core banking solution (CBS). Bringing more convenience to customers, the Bank’s ‘UnionXperience’ branches provide automation like self service passbook printing, cheque deposits machine, phone banking hot-line etc. The Bank has taken several digital initiatives: IMPS through branches― ours is the first Bank to do so; Mobile Passbook (M Passbook); Missed call facility for Mobile Banking & Account balance; SMS based value added services. Further, keeping pace with India’s Digital transformation, the Bank in association with Visa has recently launched Business Debit Card, Usecure Credit Card and Signature Credit Card. These add to already comprehensive digital offerings through various modes.
The Bank has always believed in financial inclusion as means to Nation building. Union Bank of India is awarded first prize by the Government of India ‘for covering the maximum number of sub service areas (SSAs)’ under the Pradhan Mantri Jan Dhan Yojana (PMJDY).