Union Bank-of-india

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Union Bank-of-india - Total results - 90
Coronavirus Lockdown: Economy needs support from PSBs, says Union Bank chief Rajkiran Rai G
Business

Coronavirus Lockdown: Economy needs support from PSBs, says Union Bank chief Rajkiran Rai G

The country's economy, which has been hit by the COVID-19 outbreak, needs support from the public sector banks (PSBs) to boost credit growth, an official said on Friday

SBI complains to CBI after Rs 411 cr loan defaulters flee country; account had become NPA in 2016
Business

SBI complains to CBI after Rs 411 cr loan defaulters flee country; account had become NPA in 2016

Besides SBI, other members of consortium are Canara Bank, Union Bank of India, IDBI, Central Bank of India and Corporation Bank, they said.

Union Bank becomes 5th largest PSB post-merger with Andhra Bank, Corporation Bank
Business

Union Bank becomes 5th largest PSB post-merger with Andhra Bank, Corporation Bank

Union Bank on Wednesday said it has become the country's fifth-largest public sector lender after amalgamating Andhra Bank and Corporation Bank into itself

Mega PSU bank merger marks new dawn for Indian banking space: Finance ministry
Business

Mega PSU bank merger marks new dawn for Indian banking space: Finance ministry

The biggest-ever consolidation exercise in the public sector banking space effected on Wednesday will mark a new dawn for the Indian banking sector, the Finance Ministry said on Wednesday

Coronavirus Outbreak: Banks announce special emergency loan products, credit lines for customers
Business

Coronavirus Outbreak: Banks announce special emergency loan products, credit lines for customers

Public sector banks with about 80 percent of banking operation have taken steps to ensure the safety of its staff and uninterrupted banking services to customers.

10 State-owned banks announce share swap ratios for mergers with nearing of March-end deadline
Business

10 State-owned banks announce share swap ratios for mergers with nearing of March-end deadline

The Union Cabinet on Wednesday had okayed the amalgamation of 10 public sector banks to create four large state-owned lenders with effect from 1 April, 2020

Mega bank consolidation: Meeting 1 April deadline appears challenging with approvals, clearances still pending
Business

Mega bank consolidation: Meeting 1 April deadline appears challenging with approvals, clearances still pending

According to a senior banker, information technology integration of Vijaya Bank and Dena Bank with Bank of Baroda is still in process even after 10 months of merger.

Union Bank of India Q3 net profit zooms to Rs 575 cr as bad loans shrink to 14.86%
Business

Union Bank of India Q3 net profit zooms to Rs 575 cr as bad loans shrink to 14.86%

Union Bank of India (UBI) on Monday said its standalone net profit for December quarter 2019 grew manifold to Rs 574.58 crore due to fall in provisioning for bad loans

India needs to double credit growth to 15% to achieve $5 trillion economy target by FY25: Bankers
Business

India needs to double credit growth to 15% to achieve $5 trillion economy target by FY25: Bankers

Prime Minister Narendra Modi on Thursday underlined the need for working together to make India a $5 trillion economy, while stressing that the government has been able to maintain macroeconomic stability amid tough global environment.

SBI, Union Bank to sell NPAs of Rs 2,836 crore to banks, ARCs through e-auctions this month
Business

SBI, Union Bank to sell NPAs of Rs 2,836 crore to banks, ARCs through e-auctions this month

SBI said it will sell two NPAs—Rohit Ferro Tech with an outstanding amount of Rs 1,313.67 crore and Impex Ferro Tech with dues of Rs 200.67 crore, on 17 January

SBI, Union Bank plan to sell bad loans of Rs 2,836 cr this month to asset reconstruction companies
Business

SBI, Union Bank plan to sell bad loans of Rs 2,836 cr this month to asset reconstruction companies

In a notice issued on Thursday, SBI said it will sell two NPAs- Rohit Ferro Tech with an outstanding amount of Rs 1,313.67 crore and Impex Ferro Tech with dues of Rs 200.67 crore, on 17 January.

Allahabad Bank shares jump 11% on fresh capital infusion; lender to receive Rs 2,153 cr from govt this financial year
Business

Allahabad Bank shares jump 11% on fresh capital infusion; lender to receive Rs 2,153 cr from govt this financial year

Allahabad Bank had not featured in the list of banks that were approved a total fresh capital infusion of Rs 55,250 crore, as announced on August 30 by the government.

Banks cut MCLR after RBI keeps repo rates unchanged; here is a look at revised interest structure
Business

Banks cut MCLR after RBI keeps repo rates unchanged; here is a look at revised interest structure

On 9 December, the country's largest lender SBI announced the reduction in its marginal cost of MCLR by 10 basis points across all one-year products.

PSU bank consolidation: PNB, Union Bank get in-principle nod from govt for proposed merger
Business

PSU bank consolidation: PNB, Union Bank get in-principle nod from govt for proposed merger

Punjab National Bank and Union Bank of India on Monday said they have received in-principal approval from the government for their amalgamation with other public sector banks

DHFL crisis: High Court says mortgage financier can provide payments to SBI, other lenders with which it has securitisation deals
Business

DHFL crisis: High Court says mortgage financier can provide payments to SBI, other lenders with which it has securitisation deals

DHFL can make all the future payments as well as those payments that were due since October 10 when the court had passed the earlier order, the judge said

Ensure adequate credit flow to MSMEs, they are in genuine need of funds: Anurag Thakur
Business

Ensure adequate credit flow to MSMEs, they are in genuine need of funds: Anurag Thakur

The MSME sector, which is the backbone of the economy, needs a lot of support from the banking industry, said Thakur

Credit growth at banks falls to lowest level in nearly two years as slowing consumption weighs on demand: RBI report
Business

Credit growth at banks falls to lowest level in nearly two years as slowing consumption weighs on demand: RBI report

Lending growth by banks had nearly halved to 8.8 percent at the end-September from the start of the year.

Total of 34 functional teams to smoothen bank merger of UBI, PNB, OBC; to come into force on 1 April
Business

Total of 34 functional teams to smoothen bank merger of UBI, PNB, OBC; to come into force on 1 April

The complete harmonisation among the three entities would take another 12 to 14 months after the merger

Boards of Corporation Bank, Allahabad Bank give in-principal approval for respective merger plans
Business

Boards of Corporation Bank, Allahabad Bank give in-principal approval for respective merger plans

Corporation Bank on Monday said the board has given its in-principle approval for the merger with Union Bank of India

Union Bank board okays merger of Andhra, Corporation Bank with itself; clears Rs 17,200-cr capital infusion
Business

Union Bank board okays merger of Andhra, Corporation Bank with itself; clears Rs 17,200-cr capital infusion

Union Bank of India on Monday said its board of directors has approved the merger of Andhra Bank and Corporation Bank with itself and given nod for a capital infusion of Rs 17,200 crore in the current financial year