Union Bank

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Union Bank - Total results - 34
Mega-merger of PSU banks on schedule: 6 banks cease to exist from today; experts say exercise will not be smooth, seamless
Business

Mega-merger of PSU banks on schedule: 6 banks cease to exist from today; experts say exercise will not be smooth, seamless

Experts said bank merger at this point of time will not be very smooth and seamless. However, heads of the anchor banks are exuding confidence.

Firstpost Editor's Picks: DK Shivakumar arrested, final NRC list in Assam, US Open 2019; today's must-read stories
India

Firstpost Editor's Picks: DK Shivakumar arrested, final NRC list in Assam, US Open 2019; today's must-read stories

Firstpost Editor's Picks: Congress leader DK Shivakumar arrested, Final NRC list excludes 19 lakh in Assam, Grigor Dimitrov in US Open 2019; today's must-read stories

Union Bank says lenders may be forced to convert half of their DHFL debt into equity, will be for short-term
Business

Union Bank says lenders may be forced to convert half of their DHFL debt into equity, will be for short-term

DHFL has become the poster-boy of the NBFC crisis that afflicted the financial sector after the infra-lender IL&FS went belly up last September

Union Bank's net loss widens to Rs 3,370 cr in Q4 on higher provisioning; 'worst is over,' says CEO
Business

Union Bank's net loss widens to Rs 3,370 cr in Q4 on higher provisioning; 'worst is over,' says CEO

For the full fiscal, Union Bank reported a net loss at Rs 2,948 crore as against Rs 5,247 crore in FY2018.

NBCC to submit revised bid to acquire Jaypee Infratech by 25 April, complete housing projects
Business

NBCC to submit revised bid to acquire Jaypee Infratech by 25 April, complete housing projects

In its earlier resolution plan, NBCC offered 1,400 acre land worth Rs 6,000 crore as well as Yamuna Expressway to lenders.

PNB, Bank of Baroda, Union Bank, two other PSU lenders get capital infusion of Rs 21,428 crore from govt
Business

PNB, Bank of Baroda, Union Bank, two other PSU lenders get capital infusion of Rs 21,428 crore from govt

The capital infusion will be by way of preferential allotment of equity shares of the bank during 2018-19, as government's investment, Bank of Baroda said

RBI slaps Rs 7 cr fine on four banks for non-compliance with various directions, regulatory filings
Business

RBI slaps Rs 7 cr fine on four banks for non-compliance with various directions, regulatory filings

The Reserve Bank has imposed a monetary penalty of Rs 3 crore on Union Bank, Rs 2 crore on Dena Bank, and Rs 1 crore each on IDBI and the SBI for non-compliance with various directions, regulatory filings said on Saturday

Union Bank of India sues fugitive jeweller Nirav Modi in Hong Kong court over fraud, says report
Business

Union Bank of India sues fugitive jeweller Nirav Modi in Hong Kong court over fraud, says report

Nirav Modi, 47, has been on the run since February after Indian authorities launched an investigation into his alleged involvement in a Rs 13,600 crore (US$1.8 billion) scam against the Punjab National Bank (PNB), the country's second-largest state-run lender.

ICICI Bank files insolvency plea against Jaiprakash Associates in NCLT; matter to be heard on 17 September
Business

ICICI Bank files insolvency plea against Jaiprakash Associates in NCLT; matter to be heard on 17 September

If NCLT allows the plea of the ICICI bank, then this will be the second company of the crisis hit Jaypee group facing insolvency.

RBI policy: If you're seeking auto, home loans, better hurry; the era of cheap money may soon be over
Business

RBI policy: If you're seeking auto, home loans, better hurry; the era of cheap money may soon be over

Interest rates are like to go up further if the RBI's MPC signals a hawkish stance on Wednesday

PNB scam fallout: RBI does well to stop LoUs, it's never too late to learn from mistakes
Business

PNB scam fallout: RBI does well to stop LoUs, it's never too late to learn from mistakes

LoU can be likened to a general character certificate an applicant in the job market is expected to obtain from referees

CIBIL-like regime for corporate loans need of the hour, CRISIL-like regime not enough
Business

CIBIL-like regime for corporate loans need of the hour, CRISIL-like regime not enough

What raises eyebrows is the absence of a similar regime for corporates like CIBIL who are by far the heaviest borrowers and defaulters.

Narendra Modi govt unveils big revival plan for ailing banks, to front-load Rs 1 lakh cr into PSBs this fiscal
Business

Narendra Modi govt unveils big revival plan for ailing banks, to front-load Rs 1 lakh cr into PSBs this fiscal

The recapitalisation of banks would be accompanied by strong reforms package across six themes incorporating strong action points, an official statement said.

Maharashtra farm loan waiver: Prithviraj Chavan writes to Urjit Patel, seeks inquiry into lapses by banks
India

Maharashtra farm loan waiver: Prithviraj Chavan writes to Urjit Patel, seeks inquiry into lapses by banks

As Maharashtra's farm loan waiver increasingly comes under Opposition criticism and media scrutiny, Prithviraj Chavan has written to RBI Governor Urjit Patel.

10 public sector banks have submitted turnaround plans, says govt
Business

10 public sector banks have submitted turnaround plans, says govt

Quarterly performance of these banks would be monitored by SBI Capital Markets

NPA problem: Bankers meet begins today, to decide on large loan defaulters
Business

NPA problem: Bankers meet begins today, to decide on large loan defaulters

The first set of six troubled accounts are Bhushan Steel (Rs 44,478 cr), Essar Steel (Rs 37,284 cr), Bhusan Power and Steel (Rs 37,248 cr), Alok Industries (Rs 22,075 cr), Amtek Auto (Rs 14,074 cr) and Monnet Ispat (Rs 12,115 cr), a banker said.

Recent cyber attack on Union Bank in India was similar to the hack attack in Bangladesh cyber heist
News & Analysis

Recent cyber attack on Union Bank in India was similar to the hack attack in Bangladesh cyber heist

The attempt closely resembled the cyber theft last year of more than $81 million from the Bangladesh central bank's account at the New York Federal Reserve.

Demonetisation: CBI books 3 employees of Union Bank for currency conversion
Business

Demonetisation: CBI books 3 employees of Union Bank for currency conversion

It said as part of their conspiracy, they allegedly exchanged old notes to the tune of Rs 1.17 crore with the new currency issued by the Reserve Bank of India.

Demonetisation: Arun Jaitley should take note; bank credit growth slowest since 1997
Business

Demonetisation: Arun Jaitley should take note; bank credit growth slowest since 1997

Jaitley should take note that bank lending growth slowing to 19 year lows is real too and reflect what is going on at the ground in the economy