Chennai: City Union Bank (CUB) has been conferred the Digital Payments Award, instituted by the Department of Financial Services, for its exemplary contributions to the promotion of digital payments.
Dr. N. Kamakodi, Managing Director and Chief Executive Officer of City Union Bank, received the award from Union Finance Minister Nirmala Sitharaman on Wednesday, June 18. The award ceremony was held at the Plenary Hall, Vigyan Bhawan, in New Delhi.
CUB secured second position among private sector banks for its overall digital payments performance during FY 2024–25.
The Department of Financial Services, Ministry of Finance, organised the Digital Payments Awards to recognise innovative and outstanding initiatives by banks and fintech companies in advancing digital payments. CUB was selected as one of the winners based on its significant efforts and impact in this domain.
Founded in 1904 and headquartered in Kumbakonam, Tamil Nadu, City Union Bank is one of the oldest private sector banks in India. Celebrating 120 years of service, the bank currently operates 880 branches and around 1,767 ATMs across the country. It has consistently delivered profitability and dividends to its shareholders. As of March 31, 2025, the bank recorded a total business of ₹1,16,592 crore and a net profit of ₹1,124 crore for the financial year 2024–25.
According to the bank, it has always been a pioneer in adopting advanced technology solutions to meet the evolving needs of its diverse customer base. Recent innovations include tap, pay & go payments through keychains and fitness watches, voice-based authentication for mobile banking login, a multilingual voice chatbot in regional languages, voice-based UPI 123Pay, end-to-end digital loan processing, and the Nap ID fraud filter layer.
Disclaimer: The content is sourced from a CUB press release.