'UBI is a tricky subject.' 'Our worry is the government could get rid of UPA's social welfare schemes targeted at the poor.'
"There have been discussions on implementing UBI in J&K -- not just as a pilot in some districts, but in the entire state, according to Drabu's proposal in the state's Budget," said an official. "Finance Minister Arun Jaitley is also supportive of the idea. A presentation will now be made at the PMO."
Sources said a few other lenders were also contemplating a move to declare both Kingfisher Airlines and UBHL wilful defaulters.
Sources at the bank told Business Standard that talks were on with 2-3 vendors and the final decision is expected in the next 2-3 weeks.
Software firm dismisses charge, says Finacle has proven ability.
Home, auto and other retail loans from SBI and Union Bank of India will cost more, with the two public sector banks on Thursday announcing an identical 0.5 hike in their benchmark prime lending rates to protect margins.
Bhasker Sen, chairman and managing director of UBI, discusses the bank's plan in the areas of business growth and human resources with Parnika Sokhi and Manojit Saha.
Having turned around by posting profits for the last three years, United Bank of India is mulling returning the government capital worth Rs 800 crore and said there was no financial compulsion for it to go for an initial public offer.
The United Bank of India has decided to reduce by 25 to 50 basis points the interest rates on domestic term deposits of various tenures which would come into effect from December 8.
All transfers and promotions for next financial year will be decided by respective banks, not by the merged entity.
United Bank of India on Friday said it had decided to bring down interest rates on domestic term deposits of various tenures by 25 to 50 basis points with effect from Saturday.
Mulls ways to improve the bank's earnings, cut bad loans and step up credit recovery efforts
United Bank of India has asked Vijay Mallya and three other directors of grounded Kingfisher Airlines to appear before a panel of the bank at the head office in Kolkata on July 9.
Deepak Narang, executive director of United Bank of India, speaks on Vijay Mallya's 'wilful defaulter' status.
Two public sector banks, Union Bank of India and United Bank of India (UBI), on Monday cut lending rates by 25-50 basis points (bps) ahead of Finance Minister P Chidambaram's meeting with PSU bank chiefs.
Union Bank of India has received the Reserve Bank of India's permission for opening representative offices in Dubai and Doha.
The other two companies were Spanco Limited (Rs 37 crore or Rs 370 million) and Arch Pharma (Rs 56 crore or Rs 560 million).
Airbus recently bagged large orders from Indian airlines such as Indigo and Go Air.
Sebi asked to reconsider open offer nod as KFA was identified as wilful defaulter.
Four state-owned banks on Friday said the government has extended tenures of their top officials, including managing director and chief executive officers (MD and CEOs) of Punjab National Bank and Bank of Maharashtra. Besides, the government has extended the tenures of executive directors of Punjab National Bank (PNB), Union Bank of India and Central Bank of India. The government sent notifications to these banks on Thursday, informing them about the extensions given to the top-level officials.
Since March 31, 2022, the PSBs' market cap has risen 43.7 per cent, from Rs. 7.29 trillion to Rs. 10.47 trillion. It's time for the government, the majority owner of public sector banks, to reap the benefit of the rally in bank stocks, recommends Tamal Bandyopadhyay.
The Union Bank of India has revised downwards the interest rates applicable to its dollar-denominated FCNR (B) and NRE (Rupee) term deposits.
Alas, the 'basic income' schemes that have hit the headlines in the recent past are a far cry from the genuine article in terms of coverage and fiscal implications, says Vijay Joshi.
Subbarao said, short-term as well as medium-term prospects or Indian economy continue to be grim. Fiscal deficit is going to be much higher, the debt burden much larger and the financial sector will be in a worse shape.
United Bank of India on Tuesday said it has reduced the interest rate on its education loan upto Rs 200,000 from ten per cent to nine per cent effective May 1.
A special court here on Friday allowed 'restoration' of properties worth Rs 500 crore of fugitive jeweler Nirav Modi 's firms to Punjab National Bank (PNB). This is the third such order in a span of about two weeks, with the total value of properties owned by Nirav Modi's companies being restored in this manner now standing at approximately Rs 1,000 crore.
United Bank of India has drawn up plans to float an initial public offer in December this year, bank chairman and managing director S C Gupta said on Monday. The government had already approved the capital restructuring exercise of the bank, he said on the sidelines of the Ficci Banking Conclave in Kolkata.
The government on Monday approved restructuring of state-owned United Bank of India's capital, which includes reduction in paid-up equity by over 80 per cent to improve its financial parameters.
Shortly after the Reserve Bank of India cut its signaling rates and the announcement of stimulus package, leading lenders HDFC Bank and Union Bank of India on Monday reduced their benchmark prime lending rates (PLR).
The Survey estimated that a UBI that reduces poverty to 0.5 per cent would cost 4-5 per cent of GDP, assuming that those in the top 25 per cent income bracket are not part of the loop.
Kingfisher Airlines said it would "vigorously challenge" the bank's decision.
Universal basic income or social security? Economist Nitin Desai feels we need a blueprint for universal health care and pensions to help the vulnerable section.
Union Bank of India has inked a pact with SBI Life Insurance Company Ltd to offer a life insurance cover to the former's home loan customers on a group basis.
Union Bank of India has tied up with HDFC Standard Life Insurance Company Ltd to provide bank depositors an insurance cover under group policy with a target to bring in 50,000 customers under risk cover by March.
Analysts say loan growth, Casa ratio and exposure to sectors under pressure did not indicate any stress at United Bank.
While a serious damage to the banking system and the economy has been averted, the episode brings in front the hollowness of the reporting structure in banking.
The Finance Ministry has asked top rung exectives of United bank of India to furnish bad loan recovery report on daily basis.
'The cost of funds has come down, which will lower lending rates'.
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