Finance Minister Nirmala Sitharaman's biggest challenge will be to find a new growth driver, particularly against the backdrop of a global economy ravaged by heightened uncertainty and fragmentation, financial markets on a precipice, and global commodity prices on a continued uptrend.
Standard & Poor's on Wednesday lowered the stand-alone credit profile of two government-owned lenders- the State Bank of India and Union Bank of India citing concerns over their asset quality and high credit cost.
Investors and startup executives are calling for extending the period for an entity to be recognised as a startup from 10 to 15 years for deep-tech companies.
The banks offer FCNR deposits in six currencies -- US dollar, euro, pound sterling, Canadian dollar, Australian dollar and Japanese yen. In the FCNR deposit category, SBI has raised rates by 12-21 basis points on US dollar deposits across various maturities. The new rate for the one and less than two years category is 3.12 per cent (2.98 per cent). Five-year FCNR (B) deposits carry a higher rate across various maturities at 3.66 per cent as against 3.45 per cent earlier.
This is the second-worst performance by the pack during this period over the last five years since CY20.
'When markets go into a budget with excessive optimism, the risk of disappointment is higher.'
The Indian economy is likely to grow at 7.4 per cent in 2025-26, up from 6.5 per cent in the previous fiscal, mainly on account of better performance of manufacturing and services sectors, as per the government data released on Wednesday.
Reliance Group Chairman Anil Ambani on Tuesday appeared before the Enforcement Directorate here for questioning in a money laundering case linked to alleged multiple bank loan fraud cases worth crores of rupees against his group companies, official sources said.
An Iranian delegation is expected to visit India this weekend to discuss an arrangement under which Union Bank will make payments to Halk Bank in Turkey.
Union Bank of India inked an agreement with The New India Assurance Co to market its non life insurance products in its quest to become a single point provider of financial service to its customers.
Three additional vehicle makers and five more auto component makers will begin availing financial incentives under the production-linked incentive (PLI) scheme for the automobile sector from 2026-27 (FY27) onwards, Hanif Qureshi, additional secretary at the Ministry of Heavy Industries (MHI), said on Wednesday.
India, the world's fourth largest economy, is set to maintain the 'goldilocks' phase with tailwinds of good growth, low inflation and robust banking performance as well as reform initiatives poised to sustain the economic pace witnessed during 2025.
Some public sector banks, including State Bank of India (SBI), Union Bank of India, Canara Bank, and Bank of India, are increasing the spread on home loans for new customers to protect margins.
'We believe the truth is in the middle, and that India is at an important crossroads.'
Three laws passed in Parliament could boost central revenues, reshape GST cess flows, shift MGNREGA costs to states and create new budget headroom ahead of the 2026-2027 Union Budget, points out A K Bhattacharya.
Engineering major Larsen & Toubro will pick up nearly a 10 per cent stake in the Kumbakonam-based City Union Bank for Rs 45 crore.
The "huge mountain of debt" in developed economies and the risk of a possible unravelling is a matter of concern for India, Union Minister for Railways, Information & Broadcasting, Electronics & Information Technology Ashwini Vaishnaw said on Wednesday, pointing to the recent spike in Japanese bond yields.
Union Bank of India on Wednesday reported a 28.83 per cent jump in net profit for the year ended March 31, 2004 at Rs 712.05 crore (Rs 7.12 billion) as compared to Rs 552.69 crore (Rs 5.53 billion) in the corresponding period of the previous year.
Union Home Minister Amit Shah accuses West Bengal Chief Minister Mamata Banerjee of facilitating illegal immigration from Bangladesh, leading to demographic changes. He promises to end infiltration if BJP wins the upcoming elections.
State-run Union Bank of India on Tuesday said it is hiring 5,000 employees this fiscal, including 300 specialised officers for its micro, small and medium business.
I am inclined to believe that the Venezuela adventure is not an indication of American strength, alas, but rather of American weakness, points out Rajeev Srinivasan.
Canadian firm Manulife and Mahindra & Mahindra (M&M), an Indian automaker with interests in financial services, have signed an agreement to form a 50:50 life insurance joint venture (JV) with a total capital commitment of up to Rs 3,600 crore each totalling Rs 7,200 crore.
Union Bank of India plans to distribute mutual fund products of DSP Merrill Lynch Mutual Fund as a part of its strategy to increase fee based income.
The Supreme Court has directed the CBI to conduct a pan-India investigation into digital arrest scams and questioned the RBI about its lack of AI usage in detecting and freezing accounts used by cybercriminals.
Public sector lender Union Bank of India on Tuesday announced interest rates for new home loans up to Rs 50 lakh at 8 per cent for one year.
At a time when retrenchment has almost become synonymous with financial companies, state-run Union Bank of India is looking to hire 5,000 people at different levels to support its branch expansion plans.
Rural India outpaced urban centres in passenger vehicle sales in 2025, recording a growth of 12 per cent compared with 8 per cent in cities.
Public sector banks (PSBs) have seen a sharp drop in household deposits from 70.6 per cent to 63 per cent in contrast with private banks, which witnessed a surge from 27.1 per cent to 34.1 per cent.
The government has infused over Rs 3,100 crore into women-led startups over the past six years, through its three schemes including the Fund of Funds for Startups (FFS), Startup India Seed Fund Scheme (SISFS), and Credit Guarantee Scheme for Startups (CGSS) to boost female entrepreneurship across the country, according to an update shared by the Ministry of Commerce and Industry.
Despite sharp interest rate cuts expected in this financial year amid easy liquidity conditions, state-run banks are treading cautiously on their loan growth projections for FY26. Most large banks are projecting loan growth at 11-13 per cent, almost similar to the previous financial year.
Union Bank of India has posted a 4.49 per cent rise in net profit at Rs 150.04 crore (Rs 1.50 billion) for the third quarter ended December 31, 2003, compared to Rs 143.58 crore (Rs 1.43 billion) reported for the same period in the previous fiscal.
The Indian government has introduced a bill in the Lok Sabha to ban online games played with money, aiming to curb addiction, money laundering, and financial fraud. The bill also targets advertisements and financial transactions related to such games.
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.
The next generation GST reforms would 'absolutely' set an economy open and transparent with further reduction in compliance burden and benefiting small businesses, Union Finance Minister Nirmala Sitharaman said on Tuesday.
The loan facility will be available at all branches of Union Bank of India and 329 sales touch-points of Tata Motors. UBI offers car loans up to 85 per cent of invoice, for tenure ranging up to five years, at a rate of 11-11.25 per cent, Tata Motors said.
A phone number and e-mail are often enough for a fraudster to trick a lender into pulling your report and disbursing a loan.
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