Union Bank of India: News

Exporters flee country after cheating 6 banks; SBI files complaint

Three promoters of a Delhi-based basmati rice export firm have fled the country with over Rs. 400 crore in unpaid bank loans, officials said on Saturday.

30 Aug 2019

Punjab National Bank

Government to merge 10 major public sector banks into 4

In a major move, the Indian government has announced the plan to merge public sector banks.

11 Nov 2018


All you need to know about IRCTC Loyalty scheme

The Indian Railways Catering and Tourism Corporation (IRCTC), in collaboration with the State Bank of India (SBI) and Union Bank (UBI), operates the Loyalty scheme.

19 Jun 2018


Apple introduces zero-down-payment EMI offers for iPhone X, iPhone 8

Apple often hosts its iPhone fest sales on online channels like Amazon and Flipkart. But, the tech giant hasn't been so regular with its offline channel sales.

Over 23,000 bank-fraud cases involving Rs. 1-lakh-crore in 5 years

Over 23,000 cases of fraud involving a whopping Rs. 1-lakh-crore have been reported in the past five years in various banks, according to the Reserve Bank of India (RBI).

19 Apr 2018


PSBs among leading govt bodies in rejecting RTI pleas: Study

Public sector banks, which are reeling under a huge burden of growing non-performing assets and being probed by central agencies, have emerged as the leading public authorities in terms of rejecting RTI pleas, an analysis by a voluntary group shows.

Hyderabad firm under scanner, bank-fraud worth Rs.23,500cr uncovered in 2018

Yet another bank fraud has emerged, the third case to be reported in five days. The CBI has now registered a case against Hyderabad-based Totem Infrastructure Ltd for duping lenders of Rs. 1,394.43cr.

Rotomac's Vikram Kothari, son arrested for Rs. 3,695cr loan default

The CBI has arrested Rotomac Chairman Vikram Kothari and his son Rahul for siphoning off bank loans worth Rs. 3,695 cr.

19 Feb 2018


Rotomac chairman Vikram Kothari arrested for Rs. 800cr loan default

Amid rumors that Vikram Kothari had fled the country after defaulting on loans worth Rs. 800cr, the Rotomac chairman has been arrested, reports say.

18 Feb 2018


Indian banks may lose Rs. 19,000cr in PNB-fraud: I-T Dept

The Income Tax Department stated Indian banks could lose Rs. 17,632cr from loans and corporate guarantees provided to Punjab National Bank in the Rs. 11,400cr fraud.

17 Feb 2018


Nirav Modi case: CBI arrests PNB's ex-Deputy Manager, two others

The CBI has arrested Punjab National Bank's former Deputy Manager Gokulnath Shetty, Single Window Operator Manoj Kharat, and the authorized signatory of Nirav Modi Group of Firms Hemant Bhat in connection to the alleged Rs. 11,400cr banking fraud by Nirav Modi and Mehul Choksi.

30 Nov 2017


SC seeks response from BCCI on treasurer's threat to CFO

Supreme Court has asked the BCCI and its treasurer Anirudh Chaudhry to respond to allegations of threat from the latter to board's CFO Santosh Rangnekar.

09 Jun 2017

Narendra Modi

SBI cuts interest rate on home loans to 8.6%

SBI has now slashed down the interest-rate of home loans above Rs. 75 lakh by 10 basis points. From June 15, the rate for the same will be 8.55-8.6%.

08 May 2017

Narendra Modi

SBI home loan interest rates slashed by 0.25% from tomorrow

SBI has announced a 0.25% cut in interest rates for affordable home loans under Rs. 30 lakh.

17 Apr 2017


Union Bank's July 2016 crisis - $171mn hacked

In July'16, Union Bank of India faced a major crisis - hackers had swindled $171mn (Rs. 1,100cr) from its Nostro account (a bank's account holding foreign currency in another bank).

21 Mar 2017


NPCI: No vulnerability in BHIM, UPI apps

After "intensive testing" and "continuous monitoring", the National Payments Corporation of India has announced there is no "vulnerability of loopholes" in the BHIM or UPI apps.

09 Mar 2017

Narendra Modi

Going cashless costs money, debit card charges explained

There's been an increase in the digital transactions since Prime Minister Narendra Modi announced the demonetization of Rs. 500 and Rs. 1,000 notes last November.

21 Feb 2017


Bharat QR latest to join govt bouquet of payment apps

Giving another thrust to the drive towards a digital-economy, the government has launched a QR code-based payment system called BharatQR code.

02 Feb 2017


Vijay Shekhar: Budget 2017 will boost digital services

According to mobile e-wallet Paytm's founder Vijay Shekhar, budget measures will build a more inclusive economy and increase access to digital services.

01 Feb 2017


Bank stocks soar, Sensex over 485 cheering Jaitley's Budget

Public Sector Undertaking (PSU) bank stocks shot up as Finance Minister Arun Jaitley announced allocation of Rs. 10,000 crore towards recapitalization of public sector banks in Budget 2017-18.

15 Jan 2017

Tamil Nadu

45 people become lakhpatis under NPCI schemes

The Centre revealed that its incentives of announcing lucky draws to encourage electronic payments had already made 45 people 'lakhpatis'.

02 Jan 2017

Narendra Modi

"Affordable" housing for all: Banks cut lending rates

Following PM Narendra Modi's affordable housing announcement, home loan rates fell to their lowest in six years.