Chief Economic Advisor V Anantha Nageswaran stated that India's economy is projected to return to a 7 per cent-plus growth trajectory by 2027-28 (FY28), or sooner if external conditions improve, despite near-term challenges from the West Asia crisis.
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.
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.
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.
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.
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 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.
Six police encounter in five days in Bihar, the first such action to deal with criminals in decades.
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.
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.
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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.
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.
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.
'Can you believe there are over 26,500 deaths linked to heatwave-driven ozone in 2024?'
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.
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.
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.
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.
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.
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.
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.
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.
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 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.
As of December 2010, the bank's total outlets, including branches, stood at 5,017. Its ATM network stood at 2,516 units.
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.
The bank expects Securities and Exchange Board of India approval for its proposed asset management company in the next few days, Raman said, adding once the approval is secured, the bank expects to start operations of the AMC in a couple of months.
After private banks - HDFC Bank and Axis bank - decided to charge own customers for more than five transactions at their ATMs, public sector lender Union Bank of India has also joined the bandwagon.
The Supreme Court has sought responses from the Centre, the CBI and others on a plea filed by a 78-year-old retired banker who was duped of Rs 23 crore after allegedly being put under "digital arrest" for nearly a month.
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.
Bharat Electronics, Reliance Industries, Mahindra & Mahindra, Larsen & Toubro, InterGlobe Aviation, ICICI Bank and UltraTech Cement were among the other major gainers. Axis Bank, Infosys, Tata Consultancy Services, Trent and Titan were the laggards.
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.
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.
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.
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.
