United Bank News
PNB board approves amalgamation with OBC, United Bank; clears capital infusion of up to Rs 18,000 cr by govt
The board of Punjab National Bank (PNB) has given in-principle approval for amalgamation of Oriental Bank of Commerce and United Bank of India with PNB
Opposing the merger of banks, officers associations of various banks will meet in the national capital on 5 September to chalk out the future course of action, a top official of All India Andhra Bank Officers Association said here on Tuesday
Public sector bank stocks plunge up to 9.3% post-merger announcement; Andhra Bank, Syndicate Bank among gainers
Oriental Bank of Commerce cracked 7.34% to Rs 68.10, Union Bank of India 6.79% to its 52-week low of Rs 54.90, Allahabad Bank declined by 2.83% to Rs 34.30 and United Bank 0.28% to Rs 10.39 on the BSE.
Government announces plan to merge 10 PSBs to 4 to gain size: Eight questions on big bank merger exercise
Isn’t the consolidation plan going against the policy of Reserve Bank of India and government’s own idea to give more bank licenses to increase competition
Post the PNB fraud, which came to light in February 2018, the RBI has been tough on banks to tighten all kind of their transactions.
The finance ministry on Wednesday announced to pump in Rs 48,239 crore in 12 public sector banks in this fiscal to help them maintain regulatory capital requirements and finance growth plans
At the past two meetings held between RBI and state- run banks, Das had deliberated on the prompt correction action framework.
Net NPA ratio stood at 10.02 percent as against 9.04 percent for the year-ago period.
Vijay Mallya, widely known as the 'King of Good Times' in his heyday, quit recently as chairman of United Spirits
Nailing Mallya is even more critical for banks now for two reasons. This can reinstate the confidence in the banking system itself and send a message to other wilful defaulters
State-owned United Bank of India today posted net profit of Rs 41.78 crore for its third quarter ended 31 December despite increase in bad loans.
Within hours of rate cut announced by RBI, United Bank has reduced the benchmark lending rate by 0.25 percent, while other banks including market leader SBI have indicated that they would follow suit.
The bank proposes to issue 8.45 crore shares to LIC at a price of Rs 35.50 per share.
The RBI should be in no hurry to issue bank licences. Instead, it should use the next two months to review its own mindset on what kinds of banks we need and how each type should be regulated