Sanctioning Russian oil would have led to a sharp surge in oil prices to above $80 per barrel levels, which would impact pump prices in the US ahead of midterm elections next year.
The best course for the government at this time would be to tighten the seat belt a little more, without compromising on its investments in creating better infrastructure and giving a push to privatisation, points out A K Bhattacharya.
A phone number and e-mail are often enough for a fraudster to trick a lender into pulling your report and disbursing a loan.
Contrary to the current trend of declining home loan rates, Union Bank of India has hiked interest rates for fresh home loans by 0.50 per cent across all maturities of fixed and floating rate options, effective January 1, 2004.
Union Bank of India has posted a 36.84 per cent increase in net profit at Rs 155.89 crore (Rs 1.56 billion) for the first quarter ended June 30, 2003, compared to Rs 113.91 crore (Rs 1.14 billion) in April-June 2002.
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.
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.
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.
Bad loans in the agriculture sector remain elevated, with several public-sector banks (PSBs) reporting higher slippages in the April-June quarter of FY26. For many banks, non-performing assets (NPAs) in farm lending were 5 per cent or more, with some nearing double digits.'
ICICI Bank has reversed its decision to raise the minimum monthly average balance (MAB) for new savings accounts in metro and urban locations to Rs 50,000, revising it instead to Rs 15,000, effective August 1. The MAB for new savings accounts in semi-urban locations has been revised from Rs 25,000 to Rs 7,500, and for rural locations from Rs 10,000 to Rs 2,500.
'Earnings growth will be the main driver of India's market in 2026, with profits expected to rise 9% to 10% in H2 FY26 and accelerate to 12% to 15% in FY27.'
'While we expand into other areas, banca remains our primary channel, and we continue to be a banca-led organisation.'
'I will not be surprised if there is a 7 per cent handle in front of the decimal place for the full financial year.'
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.
Amidst news of job squeeze tightening in India in 2012 we bring to you companies that are hiring in India.
The Supreme Court has restrained lower courts from releasing the accused in a digital arrest fraud case where a 72-year-old lawyer was duped of Rs 3.29 crore. The court expressed concern over the growing cybercrime and the targeting of elderly citizens.
A court in Antwerp on Friday cleared the extradition of fugitive diamantaire Mehul Choksi, noting that his arrest by the Belgian authorities on India's request was valid, officials in the know of the development said.
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.
'...not merely in managing fiscal mathematics, but in demonstrating conservatism and prudence within that framework.' 'Looking forward, we believe sufficient growth drivers exist -- ranging from government reforms to revival in consumption to favourable monsoons. Numerous factors support the Indian economy.'
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 National Democratic Alliance was set to sweep the Bihar assembly polls, surging ahead in over 200 of 243 seats on Friday with the Bharatiya Janata Party emerging as single largest party with about 90 per cent strike rate, reaffirming the popularity and campaign clout of Prime Minister Narendra Modi, who was the face of the ruling alliance through the poll battle in the highly sensitive political state.
The Congress party in India has accused the government of "impropriety" in the sudden termination of KV Subramanian's position as India's executive director at the IMF, alleging it was linked to the Union Bank of India's purchase of two lakh copies of his book. The party also questioned the government's stance on Pakistan's request for a loan from the IMF.
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.
The debate over working hours flared up after Infosys Co-founder N R Narayana Murthy called for 14-hour workdays.
Electoral fortunes of 1,302 candidates, including over half a dozen ministers in the Nitish Kumar government, will be sealed on Tuesday with 3.70 crore voters eligible to exercise their franchise across 122 assembly segments in the second and final phase of the Bihar polls.
'When the BJP wanted the election to focus on 'ghuspathiya' and promises that look like pies in the sky, we forced them to talk about jobs, giving free 125 units of power, and addressing women's indebtedness.'
The Bihar chief minister had a point to prove in the latest assembly elections, which were held amid speculations of a fatigue factor, if not downright anti-incumbency, made worse by rumours of his indifferent health.
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.
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.
While it is evident that the INDIA bloc has not shut its doors on Nitish Kumar, those within the NDA are hopeful that the JD-U's support base would benefit them as well
Opposition parties are questioning the Election Commission's intentions behind the second phase of special intensive revision of electoral rolls in 12 states and Union Territories. The BJP has slammed the Congress and called the opposition a 'herd of dissatisfied souls'.
'The (Maoist) organisation is in visible decline. Their senior leaders are ageing. Forest life is unforgiving -- older leaders simply cannot cope physically.' 'Earlier, they attracted educated youth from cities. That stream has dried up. Today's recruits largely come from poor village backgrounds and lack ideological depth.'
The Federation of Indian Chambers of Commerce and Industry (Ficci) has sought urgent steps to clear the huge backlog of income-tax appeals, simplify tax deducted at source (TDS) compliance, and ensure tax neutrality for fast-track demergers, during its consultation with Revenue Secretary Arvind Shrivastava ahead of the Union Budget 2026-27.
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 BJP has filed a complaint with the Election Commission against Rahul Gandhi for his alleged derogatory remarks against Prime Minister Narendra Modi during recent rallies in Bihar.
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.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances