The CBI has booked the son of industrialist Anil Ambani, Jai Anmol Anil Ambani, and Reliance Home Finance Ltd. (RHFL) in a case of alleged cheating in Union Bank of India that caused a loss of Rs 228 crore to the public bank, officials said on Tuesday.
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.
Jharkhand police have uncovered an interstate cyber fraud network and arrested four individuals involved in fraudulent transactions across 24 states. The investigation was initiated following inputs from the Union Home Ministry's 'Samanvaya portal', leading to the discovery of a bank account in Ramgarh district used for the illicit activities.
The Reserve Bank of India on Friday proposed to allow banks to lend to Real Estate Investment Trusts (REITs) with certain prudential safeguards to deepen the financing pool for the real estate sector.
Six police encounter in five days in Bihar, the first such action to deal with criminals in decades.
Equity benchmark indices Sensex and Nifty ended higher in highly volatile trade on Tuesday, buoyed by heavy buying in bank and metal stocks, a firm trend in global markets and optimism over India-EU FTA. The 30-share BSE Sensex climbed 319.78 points, or 0.39 per cent, to settle at 81,857.48.
The banking sector could see better loan growth in the third quarter of financial year 2026 (Q3FY26) with improved net interest margins (NIMs), though the full impact of latest rate cuts will be largely felt in the fourth quarter. There may be lower slippage in unsecured loans and microfinance institutions (MFIs) along with steady recovery trends, which should lower credit cost.
Dark patterns are no longer just a consumer protection concern, but a broader macroeconomic challenge affecting the long-term sustainability of India's digital commerce ecosystem.
'Can you believe there are over 26,500 deaths linked to heatwave-driven ozone in 2024?'
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.
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.
BJD president Naveen Patnaik has requested Union Finance Minister Nirmala Sitharaman's intervention in a case where an Odisha tribal man was forced to exhume his sister's skeleton to prove her death to a rural bank. Patnaik seeks accountability for the incident, which has sparked public outrage.
Banking sector has witnessed healthy growth in advances in the third quarter of financial year 2026 (Q3FY26) against the same period last year, as the full impact of goods and service tax (GST) rate cuts drove growth. Most of the lenders saw their credit growth outpace the deposit growth in the quarter.
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.
Union Minister Pankaj Chaudhary stated that Prime Minister Narendra Modi strengthened the Enforcement Directorate to combat financial crimes like money laundering and corruption, dismissing allegations of it being used to target political opponents.
In a move aimed at curbing the mis-selling of financial products, the Reserve Bank of India (RBI) has proposed banning incentives paid to bank staffers by third parties such as insurance companies and mutual fund houses for selling their products and services. It has also proposed that banks must ensure their user interfaces do not deploy "dark patterns" to lure customers.
India's retail inflation, measured by the Consumer Price Index (CPI), increased to 3.48 per cent in April, up from 3.40 per cent in March, primarily due to a surge in prices of gold and silver jewellery, as well as certain kitchen staples like tomatoes and cauliflower.
The government on Friday received financial bids for the strategic disinvestment of IDBI Bank, the Department of Investment and Public Asset Management (Dipam) said in an official statement on X.
Rajasthan Police have issued an advisory warning citizens about potential cyber fraud attempts disguised as part of the ongoing digital census. Scammers may use various methods, including fake calls, messages, and in-person visits, to steal personal and financial information.
Finance Minister Nirmala Sitharaman on Thursday said the country needs big and world-class banks, and discussions are on with the Reserve Bank and lenders in this regard.
Union Education Minister Dharmendra Pradhan has directed officials to address issues faced by students regarding the CBSE examination system, following allegations of irregularities. The government has committed to transparency and accountability, assuring that all genuine concerns will be addressed effectively.
Bank unions on Friday deferred their two-day nationwide strike beginning Monday after they received positive assurance from both the finance ministry and the IBA on their demands, including a five-day work week and adequate recruitment in all cadres. The strike call for March 24 and 25 was given by United Forum of Bank Unions (UFBU), an umbrella organisation of nine bank employees' association.
Amidst news of job squeeze tightening in India in 2012 we bring to you companies that are hiring in India.
While tensions have eased at several friction points and mechanisms for managing the boundary have been reactivated, underlying differences persist. Disputes over naming practices in Arunachal Pradesh, continued infrastructure development on both sides, and unresolved questions regarding patrolling rights indicate that the structural gap remains, notes Dr Kumar.
A 45-year-old man was found murdered with his throat slit in Ballia district, Uttar Pradesh. Police have launched an investigation and are searching for the perpetrators.
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 Central Information Commission has ruled that the Board of Control for Cricket in India does not qualify as a 'public authority' under the Right to Information Act, effectively placing it outside the scope of RTI disclosures.
West Bengal Chief Minister Suvendu Adhikari has announced a new border security initiative, including land transfer to the BSF and a 'detect, delete and deport' policy targeting infiltrators.
A special court in Nagpur sentenced two men to five years of rigorous imprisonment for allegedly making threat calls to Union minister Nitin Gadkari in 2023 from a jail in Karnataka.
Union Minister Pankaj Chaudhary stated that Prime Minister Narendra Modi strengthened the Enforcement Directorate (ED) to combat financial crimes like money laundering and corruption, dismissing allegations of it being used to target political opponents.
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 Centre has announced that the Viksit Bharat -- Guarantee for Rozgar and Ajeevika Mission (Gramin) Act will come into force across the country from July 1, replacing the Mahatma Gandhi National Rural Employment Guarantee Act.
Finance Minister Nirmala Sitharaman on Tuesday allayed apprehension that privatisation of state-owned banks would hurt financial inclusion and national interest. She said the bank nationalisation done in 1969 has not yielded the desired result as far as financial inclusion was concerned.
The DMK criticised its former allies, VCK and IUML, for joining the TVK government, leading to a heated exchange and prompting DMK chief M K Stalin to call for restraint.
Batting for further consolidation in public sector banking, the executives of top public sector banks (PSBs) said there should be at least two Indian banking entities among the top 20 global banks.
Residents of 31 villages in Delhi will soon receive ownership rights to their residential land within 'Lal Dora' limits, according to South Delhi BJP MP Ramvir Singh Bidhuri. Property cards will be issued to landowners, enabling them to secure bank loans.
