News for Union Bank of India (UNIONBANK.NS)

Atul Kumar Goel appointed as Chief Executive of Indian Banks’ Association, with extensive banking experience in top institutions.

These seven banks offer highest interest rates on their 3-year fixed deposits. Typically longer the tenure, higher the interest rates on term deposits

India's industrial production set to rise to 3.7% YoY in Jan'25, showing improvement in overall industrial activities.

India's food inflation likely dropped below 5 per cent in February 2025, a first since June 2023, mainly driven by falling vegetable prices. Overall retail inflation is estimated to have slowed to 3.94 per cent, providing relief to consumers and policymakers.

The Hyderabad bench of NCLT approved JEPL's acquisition of Leo Meridian Infrastructure Projects & Hotels Ltd, which owns Leonia Resorts, for Rs 237 crore. The company had liabilities of Rs 2,218 crore, and the successful bidder proposed an additional Rs 90 crore for renovation. Secured creditors unanimously agreed to the resolution plan.

The Supreme Court on Friday agreed to hear the CBI's plea challenging the Delhi High Court's order of bail to former DHFL promoter Dheeraj Wadhawan in the multi-crore bank loan scam case. A bench of Chief Justice Sanjiv Khanna and Justice Sanjay Kumar issued notice to Wadhawan and sought his response on the plea.

Even as it continues to focus on small and medium businesses (SMBs), Zoho is now setting its sights on the enterprise solutions space.

The Supreme Court will hear the CBI's challenge to the Delhi High Court's decision to grant bail to former DHFL promoter Dheeraj Wadhawan in a significant bank loan scam. Wadhawan, previously granted bail on medical grounds, is accused of siphoning off large sums of money. The hearing is set for the week of April 28.

India's banking sector liquidity is expected to shift to a strong surplus by March 2025 due to the Reserve Bank of India's Rs 1.9 lakh crore liquidity measures. Short-term challenges like GST outflows may tighten conditions temporarily, but overall improvement is anticipated by the financial year's end.

This is likely to offset outflows that would happen after corporates pay their quarterly advance taxes by March 15, economists said. The VRR auction comes one day after the RBI announced additional liquidity measures comprising ₹1 lakh crore of open market operations (OMOs) and $10 billion of dollar-rupee buy-sell swaps.

Public sector banks are strengthening fintech partnerships to boost MSME lending amid a government push. Co-lending models and digital solutions are driving growth, though operational challenges remain in scaling supply chain financing.

Net NPAs increased to Rs 36,260 crore in the December quarter from Rs 34,843 crore in September and Rs 33,116 crore in December 2023, observes Tamal Bandyopadhyay.

The changes will take effect on March 28, with portfolio adjustments expected before the market closes on March 27.

NSE announced changes in Nifty indices constituents effective March 28, impacting various companies and stock prices.

After the RBI repo rate cut, banks such as SBI, Canara Bank, PNB, and Union Bank among others have cut their repo linked lending rates. Most other banks are also expected to cut their lending rates in line with the RBI rate cut.

In February 2025, six banks adjusted senior citizen fixed deposit rates, offering up to 9.1% amid a 0.25% RBI repo rate cut. This move affects deposits under Rs 3 crore, impacting post-retirement finances.

Union Bank of India Shares: The private lender's stock settled at Rs 115.75 on Tuesday, down 1.28 per cent, commanding a total market capitalization around Rs 88,000 crore.

Union Bank shares: MOFSL said Union Bank has been reporting a healthy performance, with earnings driven by healthy revenue and controlled provisions.

Union Bank of India has been reporting a healthy performance, with earnings driven by healthy revenue and controlled provisions. Fresh slippages have been under control, which, coupled with healthy recoveries and upgrades, has resulted in an improvement in asset quality ratios. Margins are also expected to remain in the guided range of ~2.8-3% despite the rate cut, supported by higher MCLR-linked loans. We reiterate our Buy rating with a target price of Rs 135