Union Bank Of India

Tuesday, Apr 16, 2024 | Last Update : 06:01 PM IST

Union Finance Miniter Nirmala Sitharaman (PTI)

Govt to bring amendments to two Acts to enable privatisation of PSU banks

Finance Minister announced privatisation of Public Sector Banks (PSBs) as part of disinvestment drive to garner Rs 1.75 lakh crore

16 Feb 2021 10:42 PM

A host of public sector banks that declared their second-quarter results on Friday reported higher profits on improved asset quality and operational metrics as fresh slippages were lower in the absence of lumpy corporate non-performing assets.

Mid sized banks report higher Q2 net profit as asset quality improves

Fresh slippages were lower in the absence of lumpy corporate non-performing assets

07 Nov 2020 10:54 AM

A few banks have also come up with ‘lockdown offers’ for their customers. HDFC Bank offered discount on purchase of jewellery on Akshaya Tritya, Union Bank of India on purchase of medicine, and SBI on taking key lab tests.

Banks get on social media to brighten up the lockdown with customer engagement activities

HDFC started The Art Project to give customers a #BreakFromBoredom while PNB started a Mother's Day contest

10 May 2020 7:47 PM

After defaulters flee India, SBI complains to CBI. (PTI Photo)

Rs 411 crore loan fraud: After defaulters flee India, SBI complains to CBI

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

10 May 2020 8:44 AM

Government of India public sector banks in India. (Photo- FAVPNG)

Mega merger of state-run banks comes into force from April 1: RBI

The government on March 4 had notified the amalgamation schemes for 10 state owned banks into four as part of its consolidation plan

29 Mar 2020 12:33 PM

A few days after the central bank nudged banks to cut lending rates, a host of lenders have announced a cut in their marginal cost of funds based lending rate (MCLR). Bank of Baroda, the second largest public sector bank, Union Bank of India and UCO Bank announced a cut in MCLR on Tuesday.

Banks cut MCLR rates after RBI nudges on transmission

Bank of Baroda's one-year MCLR will be 8.25 per cent, 5 basis points (bps) below the exsisting level, effective December 12.

11 Dec 2019 1:41 AM

Rajkiran Rai, the managing director and chief executive for the state-run UBI, which is the lead-lender to the crippled housing financier, Tuesday clarified that if the banks take equity stake in the company, it will be for a short -term, which is till they get a suitor.

DHFL resolution: Banks may convert debt into equity, says Union Bank

DHFL owes over Rs 45,000 to banks, and the rest to other financiers including mutual funds, pension funds and insurers.

21 Aug 2019 12:31 PM

The Reserve Bank of India has imposed a monetary penalty of Rs 1 crore each on the Union Bank of India, Bank of India and Bank of Maharashtra for failing to detect and report fraud in certain accounts on time.

3 banks fined by Reserve Bank of India for delay in fraud detection

The RBI, in three separate releases, said it has imposed a penalty of Rs 1 crore each on three state-run banks.

09 Sep 2018 2:40 PM

The Reserve Bank of India has imposed a Rs 1 crore penalty on Union Bank of India for failing to detect and report fraud on time.

RBI fines Union Bank Rs 1 crore for delay in fraud detection, reporting

However, the bank said that the amount of the penalty is not material considering the size of the bank.

07 Sep 2018 3:16 PM

Union Bank of India Ltd reported on Thursday a 25.83 billion-rupee net loss for its fourth quarter.

Union Bank of India sees improvement after USD 384 million loss

Twenty one banks majority owned by New Delhi account for bulk of India’s bad loans.

11 May 2018 12:04 PM

Kenkre pulled one back through Yash Mhatre in the second half, but Union Bank added the fourth through D’Souza in the 58th minute. (Photo: AFP)

Union Bank score fluent 4-1 win against Kenkre FC

Yash Mhatre then scored a late consolation goal for the losing side.

11 Apr 2018 12:27 AM

They took the lead in the 40th minute through their consistent scorer Pandre and went into the break with a slender 1-0 advantage. (Photo: AFP)

Union Bank storm to 4-1 win against Century Rayon

The Union Bank outfit were better organised in both attack and defence and held the upper hand throughout.

04 Apr 2018 1:30 AM

Union Bank did not respond to requests for comment from either the stock exchange or Reuters.

Union Bank of India shares slump after lender makes fraud complaint

Union Bank shares were trading 8.3 per cent down at 86.85 rupees.

23 Mar 2018 1:37 PM

PNB, India's second-biggest state lender, has mainly accused two low-level employees of the Brady House branch of issuing the LoUs without making corresponding entries in the bank's main software, helping the fraud to go undetected for years. (Photo: PTI)

Nirav Modi gave gold jewellery in bribe to PNB officials: CBI

The CBI, which has arrested 14 people in the case, on Saturday for the 1st time said bribes were paid to at least one PNB official by Modi.

04 Mar 2018 9:22 AM

The bank said these fraudulent transactions had taken place over a number of years and amounted to Rs 11,400 crore. (Photo: File)

Indian banks take hit of at least Rs 17,632 cr from PNB fraud: Tax dept

As of March 2017, banks had extended loans and guarantees worth Rs 17,632 crore to companies tied to Nirav Modi and Choksi, tax dept said.

18 Feb 2018 8:47 AM

On resumption, Union Bank scored another goal through Pande and then defended well to emerge victors. (Representational Image)

Union Bank enters RCF-Nadkarni final

Striker Ranjeet Pande played a key role striking two goals which helped Union Bank pull off the win.

17 Feb 2018 12:32 AM

Ten state-owned banks have submitted their turnaround plans to the government, which is a pre-requisite for getting fund infusion. (Representational Image)

10 PSU banks submit 'recapitalisation' plans to govt

Allahabad Bank, Dena Bank, UCO Bank, United Bank of India and Bank of Maharashtra are some of the 10 PSU banks.

25 Jul 2017 6:59 PM

Bank stocks rise by 7.7% due to RBI's bad loan identification

The central bank identified 12 accounts for insolvency proceedings with each having over Rs 5,000 crore of outstanding loans

14 Jun 2017 6:19 PM

Lensman breaks open ATM machine, held

Takes step after device fails to dispense cash.

10 May 2017 2:16 AM

The opening of the email attachment initiated the malware that hackers used to steal Union Bank's access codes for the Society for Worldwide Interbank Financial Telecommunication

Cyber attack on Union Bank of India similar to Bangladesh heist: WSJ

The attempt closely resembled the cybertheft last year of more than $81 million from the Bangladesh central bank's account

11 Apr 2017 2:11 PM

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Aakar Patel

Union Bank of India