News for Union Bank of India (UNIONBANK.NS)

India's IIP likely grew 4.3% in March 2025, driven by manufacturing and mining, but global uncertainties pose risks.

Union Bank of India and RBL Bank have adjusted their fixed deposit interest rates for deposits under Rs 3 crore, effective April 25, 2025. While Union Bank maintained its savings account rates, RBL Bank reduced theirs by up to 100 basis points for specific balance tiers, starting May 1, 2025.

RBI's MPC minutes show dovish tone, prioritizing growth over inflation, with expectations of further rate cuts for economic support.

MTNL Loan Default: Late on Saturday last week, MTNL said it had defaulted on loan repayments of more than ₹8,346 crore to multiple banks led by Union Bank of India. State-owned Bank of India, Punjab National Bank, State Bank of India, UCO Bank, Punjab & Sind Bank and Indian Overseas Bank are also creditors of the company, according to the disclosures.

MTNL defaults on bank loans worth ₹8,346.24 crore; Adani Ports acquires Australian coal terminal; BHEL posts revenue growth.

Infosys Ltd., HDFC Bank Ltd., ICICI Bank Ltd., Adani Ports and Special Economic Zone Ltd., Kolte-Patil Developers Ltd. and GAIL (India) Ltd. will be among the stocks in focus before going into trade on Monday. Divi’s Laboratories, Zydus Lifesciences and Tata Consultancy Services will be some of the other stocks to watch before going into trade on Monday.

India-Business News: State-run telecom firm MTNL has defaulted on bank loans worth Rs 8,346 crore from seven public sector banks, the company said in a regulatory filing. .

MTNL defaults on Rs 33,568 crore debt, including bank loans and sovereign guarantee bonds, as per regulatory filing.

"The total outstanding principal amount stands at Rs 7,794.34 crore, while the interest due is Rs 482.97 crore," MTNL said in its filing.

Finance Minister Nirmala Sitharaman to review progress of 'One state-one RRB' consolidation on May 6.

Indian banks' market cap trends in Q1 2025, with state-owned banks facing declines and private banks showing growth.

Lenders led by Union Bank of India are set to auction the Rs 700 crore debt owed by Sahara Star Hotel after the insolvency plea was rejected. Banks are seeking all-cash bids after the offer from National Asset Reconstruction Company was deemed too low.

If you’re planning to buy a house in 2025, understanding the interest rates offered by different banks is important for making a smart financial decision.

Top gainers & losers today: Banking stocks fell, including NBFCs Cholamandalam, IIFL Finance, Muthoot Finance, Manappuram Finance as RBI revised repo rate and aims to issue comprehensive regulations on prudential norms for gold loans.

Home loan borrowers are experiencing a positive year in 2025, beginning with a 25 basis point decrease in the repo rate in February by the RBI, followed by the recent cut of 25 bps.

Shares of Muthoot Finance, IIFL Finance, and Manappuram Finance fell sharply after the RBI announced plans to tighten gold loan regulations. The central bank also cut the repo rate by 25 bps to 6% and lowered the FY26 GDP growth forecast to 6.5%. Banking stocks declined broadly despite the easing, with PSU banks leading the fall.

Ten states and one union territory are affected by the current phase, which lowers the total number of RRBs in the nation from 43 to 28.

Union Mutual Fund aims for Rs 1 lakh crore AUM in 5 years, promoting SIP as a long-term investment strategy.

The finance ministry is set to consolidate 15 Regional Rural Banks across 11 states starting next month, aiming for enhanced operational efficiency and cost reduction. This fourth consolidation phase will reduce the number of RRBs to 28 from 43. The amalgamation, effective May 1, 2026, will create 'one state-one RRB' in states like Uttar Pradesh, West Bengal, and others.