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Modi government announces mega merger of public sector banks
Fri, Aug 30, 2019
Finance Minister Nirmala Sitharaman announced a mega-merger plan for public sector banks, with Union Bank of India, Andhra Bank and Corporation Bank getting merged into a single entity.
On lines of SBI, these PSUs to offer repo rate linked home, auto consumer loans soon
Tue, Aug 13, 2019
To address this complaint of customers, many government banks have now decided to offer repo rate linked products, in which the rate of interest will be on lines of RBI's rate cut.
Get SBI loan in just 59 minutes! How State Bank of India, other PSBs are looking to empower borrowers
Tue, Jul 23, 2019
Five of the largest banks in India including State Bank of India (SBI), Union Bank of India, Oriental Bank of Commerce, Corporation Bank, Andhra Bank have joined hands to offer ‘PSB Loans in 59 Minutes‘ scheme to empower the MSMEs.
Union Bank to raise Rs 6,000 crore this fiscal through securities
Wed, May 15, 2019
Union Bank of India (UBI) Wednesday said it plans to raise up to Rs 6,000 crore this fiscal through securities to meet its capital requirement.
Union Bank expects Rs 3,000 crore recoveries from three NCLT accounts: Rajkiran Rai, MD & CEO
Wed, May 15, 2019
During an interview with Zee Business, Rajkiran Rai G, Managing Director & CEO, Union Bank of India, speaks about additional provision following central bank’s inspection report, recovery situation and outlook on loan growth among others.
The Big Bank Theory! PNB + UBI + BOI merger next after BoB, Vijaya, Dena Bank?
Tue, Apr 30, 2019
Merging small banks is one of the ways in which the government is trying to tackle the NPA crisis.
Union Bank of India to raise up to Rs 600 cr by issuing shares to its employees
Thu, Jan 03, 2019
State-owned Union Bank of India Thursday said it would raise up to Rs 600 crore by issuing shares to its employees under the staff stock purchase scheme.
Did RBI just impose Rs 10 mn penalty on your bank? Check now
Fri, Sep 07, 2018
These banks were blamed for contravention of instructions contained in Master Circular on Fraud – Classification and Reporting issued by RBI.
Era Infra Engineering case: Banks ignored CDR red flags; Rs 10,000 cr debt recovery goes for a toss
Wed, Jul 18, 2018
The 18 lenders of Era Infra Engineering (EIEL) chose to miss every possible chance to recover more than Rs 10,000 crore debt from the Delhi-based infrastructure firm, it is now revealed.
Defaulter Rotomac owner Kothari says he will not leave the country
Mon, Feb 19, 2018
Kothari had taken a loan of more than Rs 800 crore from five state-owned banks
Now, Rotomac Pen's Rs 800 crore defaulter Vikram Kothari flees country
Sun, Feb 18, 2018
Allahabad Bank, Bank of India, Bank of Baroda, Indian Overseas Bank and Union Bank of India compromised their rules to sanction loans to Rotomac, the sources said.
RBI to resolve bad loans of nearly 1,500 accounts with PSBs
Mon, Jan 08, 2018
As of September 2017, PSBs' gross non-performing assets (GNPA) stood at Rs 7.34 lakh crore.
Punjab National Bank, Union Bank bad loan growth slows but provisions weigh
Fri, Nov 03, 2017
State-run lenders account for the bulk of India`s 9.5 trillion rupees in soured bank loans as of June. The surge in bad loans has choked new lending in an economy which needs more investment to help spur growth.
Indian Overseas Bank goes live with Bharat Bill Payment system
Sat, Jul 29, 2017
BBPS is an integrated bill payment system that offers inter-operable online bill payments to customers.
PSU Banks Rejig: Govt appoints heads of 7 banks; shifts MDs of Punjab National Bank, Bank of India
Sat, May 06, 2017
In a major restructuring of PSU banks, the government on Saturday has appointed heads of seven public sector unit (PSU) banks and carried out rejigs at Punjab National Bank (PNB) and Bank of India (BOI).
NPCI expects all public sector banks to join BHIM platform by end of February
Tue, Feb 07, 2017
NPCI expects all public sector banks to join its recently launched BHIM platform by the end of February this year.
Fino Paytech raises Rs 149 crore from ICICI Bank's insurance arms
Wed, Jan 11, 2017
Payments bank licensee Fino Paytech on Wednesday said it has raised Rs 149 crore from ICICI Lombard and ICICI Prudential, clearing the decks for it to seek Reserve Bank of India's (RBI) final nod as it becomes a majority domestic investors-owned entity.
Pain before gain for Indian banks after Narendra Modi's cash gamble
Mon, Dec 19, 2016
India`s shock move to abolish high-value banknotes was expected to deliver a windfall to lenders, and banks have indeed seen coffers swell after people deposited Rs 12,40,000 crore ($183 billion) in cash into the system.
Bank of India sells 18% stake in life insurance JV
Mon, Sep 26, 2016
The shareholding of Bank of India will decrease from 48% to 30%.
RBI caps refiners' dollar buying to settle Iran dues: Sources
Mon, May 30, 2016
Refiners that owed about $6.5 billion to Iran have so far cleared $770 million in euros for Iran through Turkey`s Halkbank.