Union Bank of India has informed BSE that Union Bank of India and KBC Asset Management NV (KBC AM), a leading Belgian asset manager with operations around the world, entered into a Memorandum of Understanding as a first step to form a joint venture Asset Management Company in India. An MOU signing ceremony was held at Mumbai on July 14, 2008. Further the Bank has submitted a copy of press release titled “Yet another Venture; Union Bank Partnership with KBC AM Belgium for Asset Management Company”.